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Predictive analytics is a set of business intelligence (BI) technologies that uncovers relationships and patterns within large volumes of data that can be used to predict behavior and events. Unlike other BI technologies, predictive analytics is forward-looking, using past events to anticipate the future. [ 3 ]
Big data analytics has been used in healthcare in providing personalized medicine and prescriptive analytics, clinical risk intervention and predictive analytics, waste and care variability reduction, automated external and internal reporting of patient data, standardized medical terms and patient registries.
The materials in the Data Science and Predictive Analytics (DSPA) textbook have been peer-reviewed in the Journal of the American Statistical Association, [5] International Statistical Institute’s ISI Review Journal, [3] and the Journal of the American Library Association. [4] Many scholarly publications reference the DSPA textbook. [6] [7]
We are seeing many potent use cases for AI to drive operational efficiency including data classification, predictive and scenario analytics, fraud detection, compliance testing, and contract analysis.
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]
It is the most widely-used analytics model. [2] In 2015, IBM released a new methodology called Analytics Solutions Unified Method for Data Mining/Predictive Analytics [3] [4] (also known as ASUM-DM), which refines and extends CRISP-DM.
Data mining is a particular data analysis technique that focuses on statistical modeling and knowledge discovery for predictive rather than purely descriptive purposes, while business intelligence covers data analysis that relies heavily on aggregation, focusing mainly on business information. [4]
Pages in category "Big data" The following 64 pages are in this category, out of 64 total. ... Predictive analytics; Astroinformatics; B. Big data ethics; Big Data ...
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