Algorithms forecast outcomes from "summary" of Predictive Analytics by Eric Siegel
Algorithms forecast outcomes by finding patterns in data. They automatically learn from existing data to anticipate future events or behaviors. This is how Netflix predicts which movies you might enjoy watching. This is how credit card companies flag potentially fraudulent transactions. This is how hospitals anticipate patient admissions. In all cases, predictive analytics leverages patterns in data to forecast what will happen next. Predictive analytics is the branch of advanced analytics used to make predictions about unknown future events. It's a broad field that encompasses a variety of techniques, including data mining, machine learning, and artificial intelligence. The primary goal is to forecast outcomes based on historical data. These forecasts drive decision-making and shape strategies across indus...
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