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Predictive, Descriptive, Prescriptive Analytics

@machinelearnbot

The goal of Data Analytics (big and small) is to get actionable insights resulting in smarter decisions and better business outcomes. How you architect business technologies and design data analytics processes to get valuable, actionable insights varies. It is critical to design and build a data warehouse / business intelligence (BI) architecture that provides a flexible, multi-faceted analytical ecosystem, optimized for efficient ingestion and analysis of large and diverse datasets. There are three types of data analysis: Predictive (forecasting) Descriptive (business intelligence and data mining) Prescriptive (optimization and simulation) Predictive Analytics Predictive analytics turns data into valuable, actionable information. Predictive analytics uses data to determine the probable future outcome of an event or a likelihood of a situation occurring.


artificial-intelligence-is-the-new-business-intelligence

#artificialintelligence

Let's tackle those fears and myths by understanding more realistically what AI can and cannot do to enable business applications: To understand AI in ways that drive business, we must start with something that business is familiar with -- business intelligence (BI). Simply defined, predictive analytics use your existing data to predict data that you don't, or can't, have. Prescriptive analytics in advanced BI can recommend actions to optimize business processes, marketing effectiveness, ad targeting and many other business operations. Machine learning can now train models to produce results that closely match those obtained by human experts.



Understanding Machine Learning 04-08

#artificialintelligence

Machine learning is "[…] the branch of AI that explores ways to get computers to improve their performance based on experience". Source: Berkeley Let's break that down to set some foundations on which to build our machine learning knowledge. Branch of AI: Artificial intelligence is the study and development by which a computer and its systems are given the ability to successfully accomplish tasks that would typically require a human's intelligent behavior. Machine learning is a part of that process. It's the technology and process by which we train the computer to accomplish the said task. Explores ways: Machine learning techniques are still emerging. Some models for training a computer are already recognized and used (as we will see below), but it is expected that more will be developed with time.


A Non-Technical Guide To Understanding Machine Learning

#artificialintelligence

Machine learning is "[…] the branch of AI that explores ways to get computers to improve their performance based on experience". Let's break that down to set some foundations on which to build our machine learning knowledge. Branch of Artificial Intelligence: Artificial intelligence is the study and development by which a computer and its systems are given the ability to successfully accomplish tasks that would typically require a human's intelligent behavior. Machine learning is a part of that process. It's the technology and process by which we train the computer to accomplish the said task.