What is Predictive Modeling and How Does it Work?
Learn how historical data becomes forecasts, where predictive models are used, and what can undermine their usefulness.
Summary
The speaker explains how predictive models use current or historical data to identify patterns and forecast outcomes, outlining how analysts prepare data, train algorithms and apply models. The talk covers methods such as decision trees and linear regression, applications from advertising to fraud detection, and practical considerations including data preparation, overfitting and business relevance.
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