Big Data

Predictive Analytics: Bringing the Tools to the Data

Date Added: Sep 2010
Format: PDF

Predictive analytics that predict the present are based on existing data, preferably as much as possible. Through data mining and all other applicable techniques, patterns are detected and rules are derived. Within the bounds of its present S-curve, there is predictive value. Not towards the future, but towards similar occurrences. For instance, if Customer A buys a pair of trousers, there is a large chance he or she is also interested in socks. Or if there are expense items with the name of a fashion brand on a corporate credit card, it is an irregular transaction. The analytics take place as deep in the process and as real-time as possible.