Hands-On Data Science for Marketing

Predictive analytics in marketing

Predictive analytics is a process of analyzing and extracting information from historical data to identify patterns and make predictions about future outcomes. Numerous statistical and machine learning models are typically used to find the relationship between the attributes or features in the dataset and the target variable or behavior that you would like to predict. Predictive analytics can be utilized and applied in many different industries.

For example, it is often used in the financial industry for fraud detection, where machine learning models are trained to detect and prevent potential fraudulent transactions. The healthcare industry can also benefit from predictive analytics to help physicians in ...