2. Learning Objectives
At the end of this topic, student should be able to:
1. Predict the data that have been captured in the system and do analysis
3. What is Predictive analytics
Predictive Analytics is the branch of the advanced analytics which is used to
make predictions about unknown future events. Predictive analytics uses
many techniques from data mining, statistics, modelling and machine learning
to analyze current data to make predictions about future.
Using predictive analytics is like driving your car and watching the traffic
through the windshield, anticipating traffic, making course corrections to avoid
traffic jams and getting to the location faster and safer
4.
5.
6.
7. Benefits of Analytics and
Predictive Analytics
➢ Benefits of analytics: productivity gains through improved data-gathering
processes results in less time required for producing reports and metrics
➢ Benefits of predictive analytics: process improvement gains through
improve revenue generation & cost structures leading to enhanced decision
making
➢ Takeaway: Both types of gains are beneficial but improvements in analytics
are NOT as scalable as to the benefits in predictive analytics which are
repeatable, virtuous and scalable
8. Features in Predictive Analytics
Data
analysis and
manipulation
Visualization
Statistics
Hypothesis
testing
9. Conclusions
Predictive analytics is the analytical ability to see relationship between
business drivers and performance also the ability to model the relationship
performed by people to improve organizational visibility
