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Predictive analytics is a form of business analytics applying machine learning to generate a predictive model for certain business applications. As such, it encompasses a variety of statistical techniques from predictive modeling and machine learning that analyze current and historical facts to make predictions about future or otherwise unknown events. [1]
Predictive modelling uses statistics to predict outcomes. [1] Most often the event one wants to predict is in the future, but predictive modelling can be applied to any type of unknown event, regardless of when it occurred. For example, predictive models are often used to detect crimes and identify suspects, after the crime has taken place. [2]
v. t. e. Decision tree learning is a supervised learning approach used in statistics, data mining and machine learning. In this formalism, a classification or regression decision tree is used as a predictive model to draw conclusions about a set of observations. Tree models where the target variable can take a discrete set of values are called ...
A machine learning model is a type of mathematical model that, after being "trained" on a given dataset, can be used to make predictions or classifications on new data. During training, a learning algorithm iteratively adjusts the model's internal parameters to minimize errors in its predictions. [ 86 ]
Predictive learning is a machine learning technique where an artificial intelligence model is fed new data to develop an understanding of its environment, capabilities, and limitations. The fields of neuroscience, business, robotics, computer vision, and other fields employ this technique extensively. This concept was developed and expanded by ...
Ensemble learning trains two or more Machine Learning algorithms to a specific classification or regression task. The algorithms within the ensemble learning model are generally referred as "base models", "base learners" or "weak learners" in literature. The base models can be constructed using a single modelling algorithm or several different ...
Machine learning involves the study and construction of algorithms that can learn from and make predictions on data. [3] These algorithms operate by building a model from an example training set of input observations to make data-driven predictions or decisions expressed as outputs, rather than following strictly static program instructions.
A training data set is a data set of examples used during the learning process and is used to fit the parameters (e.g., weights) of, for example, a classifier. [9] [10]For classification tasks, a supervised learning algorithm looks at the training data set to determine, or learn, the optimal combinations of variables that will generate a good predictive model. [11]