Tag "Predictive Analytics"

What is Predictive Analytics and Can it Help You Achieve Business Objectives?

The process of predictive analytics has come far in the past decade. No longer is this process the sole responsibility of data scientists or IT staff. Today’s self-serve predictive analytics and forecasting tools are designed to support business users and

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Predictive Analytics for the Pharmaceutical Industry

As of late, Amazon and Microsoft have utilized predictive analytics to suggest products and as a digital assistant to anticipate what could hold any importance with customers. The pharmaceutical business is completely fit for leading exploration, clinical preliminaries, producing the

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Implementing A Successful Predictive Analytics Strategy

Predictive analytics demands a successful plan of design, creation, validation and implementation for variety of applications in the industries. There is a need for predictive analytics to converge with the business goals which helps each step to be related to

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Deploying Predictive Analytics into Action to Keep up with Energy Demand

The energy sector that forms an integral part of our daily lives collects magnanimous amounts of data on a continuous basis through sensors, network communication, wireless transmission, and cloud computing technologies. The amount of data collected on a daily basis

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Econometric Modelling: How It Can Help In Business

Econometric modelling has become a colloquial buzzword, more so with the advent of the big data age. It is applied in all the fields extensively, be it for academic or commercial purposes. Though the term is used commonly, there are

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Top 10 Predictive Analytics Tools in 2017

The use of data, statistical techniques and machine learning algorithms to extract information to predict trends and behavior patterns and consequently the likelihood of future outcomes is known as predictive analytics. Development tools like application programming interfaces (APIs), predictive model

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6 types of regressions, did you know?

Regression is a branch of statistics that has a major applicability in predictive analytics. Regression analysis is used to measure the relationship between a dependent variable with one or more predictor variables. The goal of regression analysis is to predict

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How analytics can be used in train delay prediction system

Train delay prediction systems have been used since a long time. These systems are static and are operated with human assistance. Most of these systems do not consider historical train journey data collected from various information sources. As a result,

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What makes “The Weather Channel” the best forecaster in the world

The Weather Company, an IBM Business was named as the most accurate forecaster by ForecastWatch in 2016. ForecastWatch evaluated eleven different providers and analyzed more than 139.3 million forecasts in three different geographic regions namely the US, Europe, and Asia-Pacific.

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How to choose the right forecasting method

Forecasting is used in almost every area of business today. It is an essential tool for managing an organization of any size. In business meetings and conferences executives often hear about forecasts for the next quarter or year from their

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