Predictive Analytics is the art and science of using data to make better informed decisions. Predictive analytics helps you uncover hidden patterns and relationships in your data that can help you predict with greater confidence what may happen in the future, and provide you with valuable, actionable insights for your organization.
Our goal was to make this complex subject as practical as possible, in a way that appeals to everyone from technological experts to non-technical level business strategists.
The subject is complex because it is not really just one subject. It is the combination of at least a few multifaceted fields: data mining, statistics and mathematics.
Data mining requires an understanding of machine learning and information retrieval. On top of this, mathematics and statistics must be applied to your business domain; be it marketing, actuary service, fraud, crime, or banking.
Most of the current materials on predictive analytics are pretty difficult to read if you don't already have a background in some of the aforementioned subjects. They are filled with complex mathematical equations and modeling techniques. Or, they are at a high level with specific use cases but with little guidance regarding implementation. We tried to include both, while trying to keep a wide spectrum of readers engaged.
The focus of this book will be developing a roadmap for implementing predictive analytics within your organization. Its intended audience is ...