4 Process Steps of Predictive Analytics

Predictive analytics is a crystal ball for businesses, helping them anticipate future events and trends based on historical data. The first four process steps of this are:

Data Collection: Gather data from various sources such as sales records, customer interactions, etc.

Data Cleaning: Ensure the data is accurate and free from errors or inconsistencies.

Data Analysis: Use statistical methods and algorithms to find patterns and correlations in the data.

Model Building: Develop predictive models using machine learning algorithms. This involves training the model on historical data so it can learn the patterns.

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