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Predictive Analytics Fundamentals

Predictive analytics is a set of techniques used to gain new knowledge from large amounts of raw data by combining data mining, statistics, and modeling. Predictive analytics goes beyond insight (knowing why things happen) to foresight (knowing what is likely to happen in the future). Predictive models use patterns in historical data to identify and quantify probabilities of future opportunities and risks. Virtually every industry—insurance, telecommunications, financial services, retail, healthcare, pharmaceuticals, and many more—uses predictive analytics for applications such as marketing, customer relationship management, fraud detection, collections, cross-sell and up-sell, and risk management.

This course introduces predictive analytics skills, which encompass a variety of statistical modeling techniques, including linear and logistic regression, time-series analysis, classification and decision trees, and machine-learning techniques. Beyond statistics skills, predictive analytics requires knowledge of problem framing, data profiling, data preparation, and model evaluation.

You Will Learn

  • Definitions, concepts, and terminology of predictive analytics
  • Common applications of predictive analytics
  • How and where predictive analytics fits into a BI program and the relationships with business metrics, performance management, and data mining
  • To distinguish among various predictive model types and understand the purpose and statistical foundations of each
  • Organizational considerations for predictive analytics, including roles, responsibilities, and the need for business, technical, and management skills

Geared To

BI program managers, architects, and project managers; business analysts who want to extend from gaining insight to providing foresight; business managers who need new tools to help them shape the future of the business; anyone interested in the basics of predictive analytics

Technical resources.

Harnessing the power of Bilytica Consulting Services

Seeing and Understanding your data is the key to competitive advantage in this era. See why Industry Leaders Trust Bilytica consulting solutions.

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Best practices for adopting secure, governed self-service analytics

Find out how Bilytica advanced analytics allows business users and IT to transform the way they used to see their valuable information.

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Industry Leaders Trust Bilytica

         
         
         
         
         
           

Put the most powerful analytics platform to work for your business.

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About Bilytica

We work with our clients in improving business performance, increasing profitability to reducing costs and making better use of people and resources. Since 2007, Bilytica and its brilliant team are connecting people, data and advanced analytics together.

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