MATH 534 Week 7 Discussion; Predictive Analytics (Keller)

Predictiveanalyticsisaninnovativeanalyticsdivisionthatuseshistoricaldatacombinedwith mathematical simulation, data mining techniques and machine learning to makeforecasts about future results.In order to detect threats and prospects, businessesemploy predictiveanalytics tofindtrendsin thisknowledge. Regression analysis refers to a process of mathematically sorting out which factorscouldhaveaneffect.Forasmallenterprise,thevalueofregressionanalysis isthatithelps decide which variables matter most, which it may neglect, and how thosevariables communicate with each other. Regression analysis is important because itoffers a powerful statistical approach that helps an organization to analyze therelationshipbetweentwo ormore variablesof interest.