Predictive modelingUsed when you seek to predict a target (outcome) variable (feature) using records (cases) where the target is known. Statistical or machine learning models are “trained” using the known data, then applied to data where the outcome variable is unknown. Includes both classification (where the outcome is categorical, often binary) and prediction (where the outcome is continuous).
Explore Data & Analytics Statistics
- 53 percent of companies are adopting big data analytics
- 21 percent of investment professionals use web traffic to derive data.
- 70 percent of investment professionals use “alternative data” or plan to do so in the next year.
- In 2025, the IoT data analyzed and used to change business processes will be as much as all of the data created in 2020.
- By 2020, there will be 2.7 million job postings for data science and analytics roles.
- In the banking sector, investments in big data analytics were estimated at $20.8 billion in 2016.
- 50 percent of businesses say data and analytics significantly impacted new entrants launching data and analytics businesses that undermine traditional competitors’ value propositions.
- 29 percent of investment professionals use expert networks to derive data.
- 95 percent of businesses need to manage unstructured data.
- More than 150 zettabytes (150 trillion gigabytes) of data will need analysis by 2025.
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