What is Machine Learning? Machine Learning for Predictive Analytics

Data Analytics has evolved over some time. Technological advancement plays a vital role in data science. Type of data analytics is categorized basis the purpose.

Descriptive Analytics

Quick data mining technique to summarize the historical data with a comparison of the trends; commonly used in publishing the metrics or performances.

Examples: Sales Trend, Customer Satisfaction Score, and KPIs.

Exploratory Analytics:

Detailed data analysis method to identify the hidden truth from the data; helps to identify the patterns and significance in any particular category.

Examples: To identify the contributing regions for sales dip;

Machine Learning for Predictive Analytics

Predicting the metrics is key to success for any business. Machine learning contributes a lot to predictive data analytics. There are different types of machine learning algorithms are being used by data scientists to predict the data.

Examples: Sales forecast, Predictive maintenance schedules

What is Machine Learning?

Machine learning is a set of algorithms that help develop predictive models based on historical data to provide solutions or predict the future.

It is a kind of artificial intelligence. How our human brain is deciding based on past experiences? In the same way, the computer also can be trained based on past data to derive solutions.

Prescriptive analytics

Expectations keep changing now prescriptive analytics are helping a lot in our day to day life. Now, the analytics can recommend solutions/services/products basis on the data pattern.

We could have seen advertisements are popping up during our web search. Google map suggests the fastest route on a peak traffic time.

#Machinelearning #Analytics #Predictiveanlaytics #Prescriptiveanalytics