A Review on Predictive Analytics

Authors(3) :-Prof. A. A.Dande, Ashwini R. Gujar, Shubhangi S. Rajput

Authors and Affiliations

Prof. A. A.Dande
Department of Computer Science and Engineering, AEC, Chikhali, Maharashtra, India
Ashwini R. Gujar
Department of Computer Science and Engineering, AEC, Chikhali, Maharashtra, India
Shubhangi S. Rajput
Department of Computer Science and Engineering, AEC, Chikhali, Maharashtra, India

At its core, predictive analytics hold a variety of statistical techniques including machine learning, predictive modelling and data mining and uses statistics both historical and current to estimate, or ‘predict’, future outcomes. These results might be behaviors a customer is likely to exhibit or possible changes in the market, for example. Predictive analytics help us to understand possible future events by analyzing the past. The most widely used predictive models are Decision trees are a simple, but powerful form of multiple variable analysis. Regression is one of the most popular methods in statistics. Neural networks Patterned after the operation of neurons in the human brain, neural networks also called artificial neural networks are a variety of deep learning technologies. The algorithms are defined as ‘classifiers’, identifying which set of classification data belongs to. Other classifiers are Time Series Algorithms, Clustering Algorithms, Outlier Detection Algorithms, Ensemble Models, Factor Analysis, Naïve Bayes, Support vector machines. Typically, an organization’s data scientists and IT experts ar e tasked with the development of choosing the right predictive models – or building their own to meet the organization’s needs. Today, however, predictive analytics and machine learning is no longer just the domain of mathematicians, statisticians and data scientists, but also that of business analysts and consultants. More and more of a business’ employees are using it to develop understanding and improve business operations – but problems arise when employees do not know what model to use, how to place it, or need information right away. Applications of predictive analytics are Banking and Financial Services, Security, Retail.

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Publication Details

Published in : Volume 5 | Issue 6 | January-February 2020
Date of Publication : 2020-02-17
License:  This work is licensed under a Creative Commons Attribution 4.0 International License.
Page(s) : 19-24
Manuscript Number : IJSRST20564
Publisher : Technoscience Academy

Print ISSN : 2395-6011, Online ISSN : 2395-602X

Cite This Article :

Prof. A. A.Dande, Ashwini R. Gujar, Shubhangi S. Rajput, " A Review on Predictive Analytics", International Journal of Scientific Research in Science and Technology(IJSRST), Print ISSN : 2395-6011, Online ISSN : 2395-602X, Volume 5, Issue 6, pp.19-24, January-February-2020.
Journal URL : https://ijsrst.com/IJSRST20564
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