Predictive Modeling Algorithms

Definition updated on November 2023

What are Predictive Modeling Algorithms?

By examining patterns in a particular collection of input data, predictive modeling is a mathematical technique used to forecast future events or results. It is an essential part of predictive analytics, a sort of data analytics that makes use of both recent and old data to anticipate future behavior, trends, and activities. Predictive modeling applications include determining the caliber of a sales lead, the possibility of spam, or the likelihood that a person will click a link or make a purchase. To troubleshoot and enhance performance, it is important to understand the mechanics of predictive modeling since these capabilities are frequently built into a variety of business applications. Predictive modeling is capable of predicting outcomes, such as the likelihood that a transaction is fraudulent, even if the term suggests a focus on the future.

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