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Predictive Analytics: Seeing a pattern
Analytics company uses high-tech software to mine data

Monday, December 26, 2011

Predictive analytics, also known as data mining, is widespread in the field of business intelligence. But Elad has managed to find a new twist, said Tom Davenport, professor of information technology and management at Babson College in Massachusetts.

Most analytics use regression, a statistical technique that's been around for a century, which helps explain the relationship between variables, he said.

What Elad is doing is pattern matching, which is more complicated and relies on artificial intelligence, Davenport said. By establishing that something has taken place in the past, it predicts what will happen in the future, he said.

Read more on the new approach to predictive analytics here. Sourced by Delaware Onlne

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