Price: $47.00
(as of Dec 27,2024 16:14:46 UTC – Details)
Publisher : Bentham Science Publishers (December 9, 2020)
Language : English
Paperback : 123 pages
ISBN-10 : 9811490503
ISBN-13 : 978-9811490507
Item Weight : 11 ounces
Dimensions : 7 x 0.29 x 10 inches
Predictive Analytics Using Statistics and Big Data: Concepts and Modeling
In today’s data-driven world, the ability to predict future outcomes based on historical data is becoming increasingly important. This is where predictive analytics comes into play, utilizing statistical techniques and big data to forecast trends and make informed decisions.
Predictive analytics involves the use of statistical models to analyze large datasets and identify patterns that can help predict future events or behaviors. By leveraging the power of big data, organizations can gain valuable insights into customer behavior, market trends, and other key variables that impact their business.
One of the key concepts in predictive analytics is the use of regression analysis, which allows analysts to identify relationships between variables and make predictions based on those relationships. By understanding how different factors influence outcomes, organizations can make more accurate forecasts and optimize their decision-making processes.
Machine learning algorithms are also commonly used in predictive analytics, allowing organizations to build predictive models that can adapt and improve over time. By continuously analyzing new data and refining their models, organizations can enhance the accuracy of their predictions and stay ahead of the competition.
Overall, predictive analytics is a powerful tool that can help organizations make more informed decisions and drive better business outcomes. By combining statistical techniques with big data, organizations can unlock valuable insights and gain a competitive edge in today’s fast-paced business environment.
#Predictive #Analytics #Statistics #Big #Data #Concepts #Modeling
Leave a Reply
You must be logged in to post a comment.