A predictive model is a mathematical or statistical model used in artificial intelligence and machine learning to predict the value of a variable of interest based on historical data and observed patterns. Usually the event to be predicted is future, however predictive modeling can be applied to unknown events regardless of time.
Predictive models are used in a variety of applications, such as risk analysis, fraud detection, demand prediction, image classification, among others. These models are trained using a historical data set containing information about the relevant variables and the corresponding outputs.
Once trained, the predictive model can be used to make predictions about new observations. To do this, the model is provided with an input containing values of the input variables, and the model uses these values to make a prediction about the corresponding output value.
The predictive model thus gives rise to forecasts which, however, should be considered as probabilities and not as certain predictions, which will necessarily materialize. The plausibility of the results of the predictive models must be reported statistically. Then, their probability is conceivable depending on the size of the data set studied. Thus, the larger the number of data analyzed, the more the results of prognostic models can be considered as conceivable and accurate results.
Predictive models are built using supervised learning techniques, which require the existence of a labeled data set for model training. The accuracy of a predictive model is evaluated using error metrics such as precision, mean square error or ROC curve.
You are probably wondering, what is surety insurance and how does it help your company? In today's economic environment, [...]
Read More »OpenAI is a technology company created by the main leaders in artificial intelligence that, in its beginnings, defined itself as an organization that [...]
Read More »The fad coming from the USA that will force the incorporation of AI in the process Surely it is only recently that we have started to hear a new concept in [...]
Read More »A few days ago we were able to attend a pioneering event in the world of Retail, the Retail Future 2022 fair. In its fifth edition, and under the slogan "Challenge [...]
Read More »Here you can edit your cookie preferences for this website.
Advertising cookies are used to deliver relevant advertisements and marketing campaigns to visitors. These cookies track visitors across all websites and collect information to deliver personalized advertisements.
Analytical cookies are used to understand how visitors interact with the website. These cookies help provide information on metrics such as number of visitors, bounce rate, traffic source, etc.
Functional cookies help to perform certain functionalities such as sharing website content on social media platforms, collecting feedback and other third party features.
Necessary cookies are absolutely essential for the website to function properly. These cookies ensure the basic functionalities and security features of the website, anonymously.
Other non-categorized cookies are those that are being analyzed and have not yet been classified in a category.