CASE STUDY: PREDICTIVE ANALYSIS
MOUNIKA ENUGALA
NORTHEASTERN UNIVERSITY INTRODUCTION
Predictive analysis is the process in the advanced analytics field which predicts the unknown scenarios in future. It uses lot of techniques like machine learning, data mining, probability and statistics, IT, data management etc. It brings down the results of previous input data searches and manages to understand the connections between the data thus identifying all the opportunities and risks of future which is unknown. It is a process of seven steps which helps an organization to be anticipate and behave accordingly for the better outcomes in future. The steps include:
Defining Project
The whole project and resources for the project making is for …show more content…
Modelling
It is a way to create appropriate predictive models for unknown future scenarios. By creating the models, there is also a choice for comparing one model with another and check for the best one.
Deployment
By automating the decisions based on predictive modeling, there will be an option for us to deploy the analytical outcomes in every day decision making procedure.
Model Monitoring
All the models derived are monitored and assessed if it is producing the expected outcome for that particular scenario.
Predictive Analysis Process
PayPal is a payment transactional company which has grown to a very big powerhouse in its own field. The main reason of its success is the efficient way PayPal uses its data. Couple of years back PayPal started to use Hadoop for helping eBay which is its parents company and few small merchants. PayPal uses a blend of Hadoop and its database to explore, clean and format the data and use it very efficiently. The procedure starts with the collection of raw data and pass it through Hadoop which cleans up the data and use for the predetermined jobs like BI and in the analytics projects. The data we got is stored in the cloud for allowing the employees to use it. This massive collection of data is used for future benefits It uses Graph processing to help data scientist to collect and check the patterns …show more content…
We can take the examples of common scenarios such as online banking services - Banks have all the customer data to provide a better service such as blocking the lost credit card or protecting bank details in lost mobile. Organizations need to integrate data and optimize the procedures for a quick decision making in order to successfully retain the customers they already have and get new customers. Hence although the current trend of collecting data appears as inevitable part of our society’s technology, it is important that they collect our data to make our work easier as all of us want to save our quality time and effort. For example, in retail business transactional information is very important and if used properly can create lot of procedures and make operations easy for merchants. They can make shopping and the availability of products we are interested
MOUNIKA ENUGALA
NORTHEASTERN UNIVERSITY INTRODUCTION
Predictive analysis is the process in the advanced analytics field which predicts the unknown scenarios in future. It uses lot of techniques like machine learning, data mining, probability and statistics, IT, data management etc. It brings down the results of previous input data searches and manages to understand the connections between the data thus identifying all the opportunities and risks of future which is unknown. It is a process of seven steps which helps an organization to be anticipate and behave accordingly for the better outcomes in future. The steps include:
Defining Project
The whole project and resources for the project making is for …show more content…
Modelling
It is a way to create appropriate predictive models for unknown future scenarios. By creating the models, there is also a choice for comparing one model with another and check for the best one.
Deployment
By automating the decisions based on predictive modeling, there will be an option for us to deploy the analytical outcomes in every day decision making procedure.
Model Monitoring
All the models derived are monitored and assessed if it is producing the expected outcome for that particular scenario.
Predictive Analysis Process
PayPal is a payment transactional company which has grown to a very big powerhouse in its own field. The main reason of its success is the efficient way PayPal uses its data. Couple of years back PayPal started to use Hadoop for helping eBay which is its parents company and few small merchants. PayPal uses a blend of Hadoop and its database to explore, clean and format the data and use it very efficiently. The procedure starts with the collection of raw data and pass it through Hadoop which cleans up the data and use for the predetermined jobs like BI and in the analytics projects. The data we got is stored in the cloud for allowing the employees to use it. This massive collection of data is used for future benefits It uses Graph processing to help data scientist to collect and check the patterns …show more content…
We can take the examples of common scenarios such as online banking services - Banks have all the customer data to provide a better service such as blocking the lost credit card or protecting bank details in lost mobile. Organizations need to integrate data and optimize the procedures for a quick decision making in order to successfully retain the customers they already have and get new customers. Hence although the current trend of collecting data appears as inevitable part of our society’s technology, it is important that they collect our data to make our work easier as all of us want to save our quality time and effort. For example, in retail business transactional information is very important and if used properly can create lot of procedures and make operations easy for merchants. They can make shopping and the availability of products we are interested