Close Menu

    Subscribe to Updates

    Get the latest creative news from FooBar about art, design and business.

    What's Hot

    Beyond Automation: The March Towards Autonomous Process Orchestration

    July 8, 2025

    Could the Future of AI be Event Driven?

    July 3, 2025

    The Future of Work is Now: Are We Ready for Digital Employee Experience (DEX)?

    July 3, 2025
    LinkedIn
    AixOutlook Wednesday, July 9
    LinkedIn
    Get In Touch
    • About Us
    • AI Perspectives
    • Domains
      • Conversational AI
      • Generative AI (GenAI) & AI Services
      • Data Science & Machine Learning (DSML)
      • AI in Industry Verticals
      • AI in Business Process Management (BPM)
      • Data & Analytics Services (DMAS)
    AixOutlook
    Home » Processes Involved in Predictive Analytics
    Uncategorized

    Processes Involved in Predictive Analytics

    Aix OutlookBy Aix OutlookOctober 4, 2021
    LinkedIn Email

    Businesses perceive to grow exponentially over time. It is believed “if one doesn’t perceive something, how can they achieve it?”. However, it is not just about perceiving growth and development, but also about following through the right processes to drive businesses towards success.  

    Businesses need to make predictions about their future and upcoming market scenarios. For instance, the businesses which understood the need to establish online services before the Covid-19 situation arose, didn’t get affected as compared to those which got set up after the covid situation. 

    Predictive analytics being a subset of advanced analytics is one such method or solution to predict the future outcomes for organizations. Each organization has an abundance of data, predictive analytics model uses the chronicle and transactional data underlying within organizations both new and the old one.  

    Predictive analytics uses automated methods to detect, cleanse, use, and interpret the data to predict future outcomes. These automated methods involve statistics, modeling, data mining, artificial intelligence, machine learning, and deep learning.  

    Predictive Analytics Processes 

    Predictive Analytics works as a business astrologer for an organization, by involving various processes within its analytics model. These include:  

    Project Specification and Data Organization 

    Organizations need to pinpoint the use cases for the predictive analytics model before its implementation. Understanding the business objectives in detail and spotting out the results of the analytics project form up a crucial part in the productive analytic process as the whole model depends upon the project specification.  

    Organizations are required to keep proper track of their valuable data, and vigorously check for any alterations. Although, the predictive analytics model may not necessarily involve data management tools. However, It is mandatory to complete the missing data and keep it organized, as it affects the overall efficiency of the predictive analytics model. 

    To organize the data, organizations must explore multiple data management tools.  

    Data Collection

    The predictive analytics model inculcates the collection of data in a sizeable magnitude. For the prediction of future outcomes, it consumes a significant proportion of data to understand the business processes and ongoing trends.
    In addition, through using automated machine learning algorithms, predictive analytics models are cable of understanding the data in large volumes for multiple data formats involving structured, semi-structured, and unstructured data, depending upon the predictive analytics model used.

    Data Cleansing

    The data cleansing method burnishes the overall data collected within the predictive analytics model. It scrutinizes the data and checks for missing information if any. Data cleansing methods help predictive analytics tools to become precise and effective.

    Data Mining

    Organizations have a mammoth amount of data stored within them. However, it becomes difficult for organizations to extract meaningful data from a large amount of raw data that exists.
    Data mining refers to a process involving the alteration and extraction of useful data patterns, trends, and relationships from huge raw data sets. Data mining helps to keep an insight over data analysis.
    Moreover, Data mining involves the transfiguration of raw data to obtain knowledge. It works through a specified selection and filtration of data. Also, it detects and interprets missing values within the created or chosen data pattern.

    Predictive Model Development

    The predictive analytics model can be controlled or determined through the use of various models influenced by the complexity of the specified project. These are differentiated from the data mining tools, as the statistical procedures involved in predictive model types tend to create a single or specified relationship.
    Predictive model development uses various models involving the regression models using linear regression as well as the advanced models using neural networks.

    Avatar
    Aix Outlook

    Related Posts

    The Evolution of Task Mining: From Data Capture to Autonomous Optimization

    June 27, 2025

    Advanced AI and NLP Technologies Catering to Global Industries

    January 2, 2023

    Bridgepointe obtained CX leader PPT Solutions

    January 2, 2023

    Comments are closed.

    Demo
    Top Posts

    Beyond Automation: The March Towards Autonomous Process Orchestration

    July 8, 2025

    PromoMii Releases AI-powered Video Search and Creation Tool

    June 14, 2021

    Moody’s Analytics with Citi to Provide Data and Cash Flow Analytics

    June 14, 2021

    Element451 and Lingk Partners to Empower Administrative and IT Staff

    June 14, 2021
    Don't Miss

    Beyond Automation: The March Towards Autonomous Process Orchestration

    July 8, 20255 Mins Read

    Automation has come a long way since the early RPA bots quietly started replacing repetitive…

    Could the Future of AI be Event Driven?

    July 3, 2025

    The Future of Work is Now: Are We Ready for Digital Employee Experience (DEX)?

    July 3, 2025

    The Future of Analytics: Trends Reshaping Business Intelligence

    July 2, 2025
    Stay In Touch
    • LinkedIn

    Subscribe to Updates

    Get the latest creative news from SmartMag about art & design.

    Demo
    About Us
    About Us

    AI Unfiltered. Beyond Buzzwords. Independent

    LinkedIn
    Quick Links
    • About Us
    • AI Perspectives
    • Domains
      • Conversational AI
      • Generative AI (GenAI) & AI Services
      • Data Science & Machine Learning (DSML)
      • AI in Industry Verticals
      • AI in Business Process Management (BPM)
      • Data & Analytics Services (DMAS)
    Most Popular

    Beyond Automation: The March Towards Autonomous Process Orchestration

    July 8, 2025

    PromoMii Releases AI-powered Video Search and Creation Tool

    June 14, 2021

    Moody’s Analytics with Citi to Provide Data and Cash Flow Analytics

    June 14, 2021
    • Home
    • About Us
    © 2025 Designed by TechBuzz.Media | All Right Reserved.

    Type above and press Enter to search. Press Esc to cancel.