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Practical Predictive Analytics by Ralph Winters

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Predictive Analytics in other industries

Other examples can be found in just about every other industry. Here are just a few:

  • Finance:
    • Fraud detection is a huge area. Financial institutions are able to monitor client's internal and external transactions for fraud, through pattern recognition and other machine learning algorithms, and then alert a customer concerning suspicious activity. Analytics are often performed in real time. This is a big advantage, as criminals can be very sophisticated and be one step ahead of the previous analysis.
    • Wall street program trading. Trading algorithms will predict intraday highs and lows, and will decide when to buy and sell securities.
  • Sports management:
    • Sports management analytics is able to predict ...

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