Coding for Predictive Modeling
20.1.1 The Scope of This Chapter
Many data mining analyses deal with predictive modeling tasks. Either the occurrence of an event or a value has to be predicted. Examples of predictive modeling business questions include the prediction of a contract cancellation, the delinquency of a customer’s loan, or the claim amount for an insurance customer.
Data mining analysis not only starts with the creation of a predictive model, it also deals with creating and preparing meaningful derived variables. In earlier chapters we saw a ...