Titlebook: Applying Predictive Analytics; Finding Value in Dat Richard V. McCarthy,Mary M. McCarthy,Wendy Ceccucc Textbook 2022Latest edition The Edit

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Model Comparisons and Scoring,to be developed and utilized. Chapter . begins by examining some of the newer predictive analytics techniques. It then covers a more in-depth discussion for evaluating different predictive models by evaluating fit statistics. The chapter then concludes with a review of scoring, the process used to a

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build and analyze a complex analytics model and utilize it to predict future outcomes. The new edition includes chapters on clusters and associations and text mining to support predictive models. An additional case is also included that can be used with each chapter or as a semester project..978-3-030-83072-4978-3-030-83070-0

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What Do Descriptive Statistics Tell Us,e of understanding what if anything will need to be done to the data to prepare it for analysis. There are many statistical tests that can be utilized. This chapter focuses on a review of descriptive statistical analysis that is used to prepare and support predictive analytics. It reviews methods to

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The Second of the Big 3: Decision Trees,ble to provide an easy method to determine which input variables have an important impact on a target variable. In this chapter, decision trees are defined and then demonstrated to show how they can be used as an important predictive modeling tool. Both classification and regression decision trees w

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The Third of the Big 3: Neural Networks, advances in computing speed, memory, and data storage that have enabled their more current widespread use. In this chapter a variety of different neural network architectures will be described. Next an analysis of how to optimize and evaluate neural networks will be presented, followed by using a d

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Model Comparisons and Scoring,hese are not the only methods available to us. Other methods have been developed, and their use has begun to become more widespread. The predictive analytics landscape has had a significant growth as we see more opportunities to apply these techniques in new and interesting applications. Business pr

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Finding Associations in Data Through Cluster Analysis,s, with each member of the cluster having more in common with members of the same cluster than with members of the other clusters. Cluster analysis is an exploratory data analysis tool which aims at sorting different objects into groups in a way to maximize the degree of association between objects