It’s a common misconception that predictive analytics and machine learning are the same. While machine learning and predictive analytics can both leverage data to make future predictions, they do so in different ways.
What is machine learning? It is a methodology where algorithms perform a specific task without explicit instructions or predetermined rules, relying on patterns and inference instead to make predictions and recalibrate as needed.
Machine learning is divided into two types of tasks: supervised and unsupervised. In supervised learning, the machine learning model building process is guided by a dedicated response variable. In contrast, unsupervised learning uses all variables equally as it has no dedicated target.
What is predictive analytics? It is a category of data analytics aimed at making predictions about future outcomes based on historical data and analytics techniques. Predictive analytics uses a variety of statistical techniques (including data mining, machine learning, and predictive modeling) to understand future occurrences.
Our proprietary, best-in-class machine learning algorithms have the power to provide deeper insights in your data.
– Linear Discriminant Analysis (LDA)
– Quadratic Discriminant Analysis (QDA)
– Logistic Regression
– Classification Trees
– Partial Least Squares
– Regression Trees
– Regression with Life Data
– Warranty Prediction
Time Series Methods
– Cluster Observations
– Cluster Variables
– Cluster K-means
– Factor Analysis
– Principal Component Analysis
– Factor Analysis
One of the most popular tools in modern data mining, this tree-based algorithm discovers how to split data into smaller segments, then selects the best performing splits repeatedly until an optimal collection is found.
Based on a collection of CART Trees, this algorithm uses repetition, randomization, sampling, and ensemble learning while simultaneously bringing together independent trees to determine the overall prediction of the forest.
Our most flexible, award-winning and powerful machine learning tool is known for its superb and consistent predictive accuracy due to its iterative structure that corrects combined errors of the ensemble as it builds.
Use this automated tool to easily confirm you’re using the best predictive model to answer your question. Perfect for those new to predictive analytics who need recommendations and experts looking for a second opinion.
Minitab’s Predictive Analytics Module is just part of what we have to offer around predictive analytics and machine learning.
MARS® Capture nearly undiscoverable essential nonlinearities and interactions with the machine learning model most similar to traditional regression.
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PO Box 334155
Dubai – United Arab Emirates
Phone: +971(4) 2780994