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What is Predictive Modelling

Chapter 6
Integration Challenges for Analytics, Business Intelligence, and Data Mining
It is a process related to models creation concerning data usage and processing with aim business items, events and processes to be predicted.
Published in Chapter:
Modelling in Support of Decision Making in Business Intelligence
Roumiana Ilieva (Technical University of Sofia, Bulgaria), Malinka Ivanova (Technical University of Sofia, Bulgaria), Tzvetilina Peycheva (IBS, Bulgaria), and Yoto Nikolov (Technical University of Sofia, Bulgaria)
Copyright: © 2021 |Pages: 30
DOI: 10.4018/978-1-7998-5781-5.ch006
Abstract
Modelling in support of decision making in business intelligence (BI) starts with exploring the BI systems, driven by artificial intelligence (AI). The purpose why AI will be the core of next-gen analytics and why BI will be empowered by it are determined. The role of AI and machine learning (ML) in business processes automation is analyzed. The benefits from AI integration in BI platforms are summarized. Then analysis goes through predictive modeling in the domain of e-commerce. The use of ML for predictive modeling is overviewed. Construction of predictive and clustering models is proposed. After that the importance of self-services in BI platforms is outlined. In this context the self-service BI is defined and what are the key steps to create successful self-service BI model are sketched. The effects of potential threads which are the results of the big data in the business world are examined and some suggestions for the future have been made. Lastly, game-changer trends in BI and future research directions are traced.
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Chapter 10
U.S. Unemployment Rate Prediction by Economic Indices in the COVID-19 Pandemic Using Neural Network, Random Forest, and Generalized Linear Regression
A widely used statistical and mathematical methodology for data analysis. It predicts possible future events based on data mining process of historical data.
Published in Chapter: U.S. Unemployment Rate Prediction by Economic Indices in the COVID-19 Pandemic Using Neural Network, Random Forest, and Generalized Linear Regression; From: Biomedical and Business Applications Using Artificial Neural Networks and Machine Learning
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Chapter 402
Eight Tips for the Theme, “Data and Forecasts”
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Chapter 18
Identifying Patterns in Fresh Produce Purchases: The Application of Machine Learning Techniques
A process of using data mining or machine learning techniques to predict outcomes of interest. Once variables that are likely to influence the outcomes are identified and the relevant data is collected, a model is formulated and tested.
Published in Chapter: Identifying Patterns in Fresh Produce Purchases: The Application of Machine Learning Techniques; From: Handbook of Research on Big Data Clustering and Machine Learning
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