BACHELOR OF BUSINESS ADMINISTRATION

Detailed explanation-1: -Predictive analytics is a branch of advanced analytics that makes predictions about future outcomes using historical data combined with statistical modeling, data mining techniques and machine learning.

Detailed explanation-2: -Three of the most widely used predictive modeling techniques are decision trees, regression and neural networks. Regression (linear and logistic) is one of the most popular method in statistics. Regression analysis estimates relationships among variables.

Detailed explanation-3: -Prescriptive analytics uses statistical models and machine learning algorithms to determine possibilities and recommend actions.

Detailed explanation-4: -Predictive analytics and machine learning go hand-in-hand, as predictive models typically include a machine learning algorithm. These models can be trained over time to respond to new data or values, delivering the results the business needs. Predictive modelling largely overlaps with the field of machine learning.

Detailed explanation-5: -Neural networks. The most complex area of predictive modeling is the neural network. This type of machine learning model independently reviews large volumes of labeled data in search of correlations between variables in the data.