Types
Generally, the term predictive analytics is used to mean predictive modeling, "scoring" data with predictive models, and forecasting. However, people are increasingly using the term to refer to related analytical disciplines, such as descriptive modeling and decision modeling or optimization. These disciplines also involve rigorous data analysis, and are widely used in business for segmentation and decision making, but have different purposes and the statistical techniques underlying them vary.
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Famous quotes containing the word types:
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