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CRASH COURSE TO PREDICTIVE ANALYTICS
From the faculty at DexLab Analytics
PREDICTIVE ANALYSIS CONSISTS OF THREE DISTINCT YET INTERRELATED PARTS:
Capture data Predict outcomesAct on the insights gathered
HOW TO CAPTURE DATA?
Before we get on about how to capture data, what actually is data?
For this we need to use the data triangle methodology to know about data and its various aspects.
Data Triangl
e
UNDERSTANDING THE PARTS OF A DATA TRIANGLE:
Data TriangleMethodology
Sources of Data: traditional, relational, database,
flat files, excel spreadsheets etc. Also includes Big Data sources.
Different Forms of Data: Data at rest, Data in motion
Types of Data:Structured data (stored in
rows & columns)Unstructured data (free-form
texts, videos, pics)
How to capture Data:
THIS IS THE FIRST STEP IN PREDICTIVE MODELLING
HOW TO PREDICT?Steps included in Predictive Analytics are:
1. Data Mining2. Text Mining 3. Statistical Analysis
To learn more about these steps in R predictive modeling in detail, view our brochure on R programming certification.
THE THIRD AND FINAL STEP
Is to act on those insights gathered from the predictions.
If you don’t act on those insights, then know that it’ll be a fallacy similar to that of jumping off from an airplane without deploying the parachute strapped on your back!
TRADITIONAL MARKETING IS TOO MUCH OF HIT-OR-MISS!
Without actions, predictive analysis will be pointless and will only bring about unintended results.
PREDICTIVE ANALYTICS HELPS TARGET A FRACTION OF PEOPLE AND GET NEARLY SIMILAR RESULTS AS TRADITIONAL MARKETING.
SO WHY WAIT WHEN INFINITE INSIGHTS AWAIT
YOU?
Learn predictive modelling at http://www.dexlabanalytics.com
THANKS FOR WATCHING!
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