Process and application

Overview

For any organization, predictive analytics is fast becoming an essential component of organizational success. Discovering the application of predictive analytics for various fields and exploring the process and roles involved.

Objectives

• illustrate an application of predictive analytics from the perspective of marketing or sales
• illustrate an application of predictive analytics from the perspective of banking or insurance activities
• illustrate an application of predictive analytics from a technological or medical perspective
• illustrate an application of predictive analytics from the perspective governmental or academic
• enumerating the characteristics of a predictive analytics project
• identifying stakeholders and roles of a project
• identifying predictive analytics considerations for a project
• recognizing important considerations for preparing data for model development
• describing the process of developing and training a predictive model
• identification of the main considerations and tools for the implementation of predictive analytics
• recognition of the important considerations for the usefulness of the models and the main characteristics of the application ii knowledge