Predictive analytics

Concept and definition

Predictive analytics

What is Predictive analytics?

Predictive analytics is a technique used in artificial intelligence and machine learning to predict the outcome of a future event. This technique involves the use of machine learning algorithms to analyse historical data and create models that can predict how a variable will behave in the future.

Predictive analytics is commonly used in a variety of applications, such as fraud detection, business decision making, process optimisation and prediction of future events. This technique can be useful in situations where a decision needs to be made based on data about a future event, but complete information about the event is not available.

Techniques used in predictive analytics include supervised learning, which involves the use of labelled historical data to train a machine learning model that can predict future outcomes, and unsupervised learning, which involves the use of clustering and association techniques to identify patterns in the data and make predictions based on those patterns.

Predictive analytics can also include the use of statistical models to make predictions and decisions based on the data. These models may be linear or non-linear, and may include techniques such as regression, time series analysis and survival analysis.

« Back to glossary

Do you want to get in touch?

CDRs contain data that a telecommunications company collects about phone calls, such as time and length of call. This data can be used in analytical applications.
Fill the form
Share:
What is chargeback? Find out how it affects your business

Chargeback refers to refunds that occur when, at the request of a cardholder, the bank requests a refund on his or her behalf [...].

Read More »
Types of analysis performed with Big Data

Big data analytics is the process of analyzing large and complex data sources to uncover trends, patterns, customer behaviors, and other data sources [...]

Read More »
Artificial intelligence applied to the semantic web 

The semantic web or "internet of knowledge" is an extension of the current web. Unlike the latter, the semantic web is based on proportional [...]

Read More »
Which companies can Artificial Intelligence help?

Artificial Intelligence is transforming the way in which companies relate to their customers, how work is managed, the way they work, the way in which [...]

Read More »
See more entries
© Gamco 2021, All Rights Reserved - Legal notice - Privacy - Cookies