An Overview of Predictive Analytic Modeling Techniques and Methodologies
Predictive analytics is the area of data mining concerned with the prediction of future probabilities and trends. It brings together management, information technology and modeling that indicates a focus on making predictions. In today’s data hungry world, it provides a key to success by making predictions and deals with forecasting by employing techniques that have been used for decades. Predictive analytics is data science, a multidisciplinary skill set essential for success in business, non-profit organization and government. Predictive analytics, like much of statistics, involves searching for meaningful relationships among variables and representing those relationships in models. In this work, we will discuss predictive analytics and modeling with a brief overview of literature review.
Index Terms - Data Mining, Predictive Analytics, Predictive Modeling, CRISP-DM, Supervised learning.