Predictive analysis

Predictive analytics is the practice of extracting information from existing current and historical data sets in order to determine patterns and predict future outcomes and trends by statistical techniques from modeling, machine learning, and data mining. Predictive analytics does not tell you what will happen in the future.

  • Understanding the problem
  • Tying prediction variables to the problem
  • Choosing statistical models relevant to the problem
  • Preparing the input data for application of the models
  • Validating the models with test data
  • Apply real life data, observing accuracy over time and making adjustments