Talk:Predictive analytics

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[edit] Predictive analytics vs. predictive modelling

Predictive analtytics, a sister science to predictive modelling, is seperate and distinct as it is an insurance industry term which specifically refers to making realtime live judgements about the likelihood that a particular insured is going to have an accident or is lying on an insurance claim. —The preceding unsigned comment was added by 69.27.2.186 (talk • contribs) .

Yes, I left a comment in the redirect to that effect. I've put the above text as a stub for now instead of the redirect, although I think the field of predictive analytics is broader than that insurance industry view. – Doug Bell ^{talk•contrib} 20:33, 21 February 2006 (UTC)

[edit] What is "Excel Miner"?

I searched google for "Excel Miner" and came up with nothing.

I'm guessing that this must be a reference to the "XLMiner" product http://www.xlminer.net/ --NorthernBloke 10:02, 9 September 2006 (UTC)

[edit] Merge with forecasting?

I propose a merger with forecasting. Predictive analytics is the more complete article, but I think forecasting is the term that is more likely to be searched for. Apdevries 20:54, 2 September 2006 (UTC)

I totally agree with you. KT Forecast Manager 4 September 2006

I took a look at forecasting and I think you guys are probably right.CommodiCast 19:48, 5 September 2006 (UTC)

I am not so sure that I would take this view. There are three types of predictive analytics listed in the article and I am not sure that the term forecasting would encompass the descriptive and decision types. I also think that forecasting is a relatively generic term used in many disiplines while predictive analytics is a term for family of statistical procedures.--Jparrishucf 01:04, 7 September 2006 (UTC)

On the whole I agree with the last post. In my experience the term "forecasting" is predominately used where time/chronology are factors in the modelling process. Hence i would support the argument that "forecasting" is a form/subset of "predictive analytics". i also think that "predicting" is perhaps a more commonly used term than "forecasting".--John McConnell 10:23, 9 September 2006 (UTC)

The two should definitely not be merged. Forecasting will predict how many ice cream cones will be purchased. Predictive analytics will predict which customers are likely to buy an ice cream cone. For each individual element (customer), predictive analytics makes a prediction (score). That is, the primary use of the term predictive analytics refers to an application of predictive modeling (usually in a business context), where the model applies over individual elements. (Therefore, predictive analytics could generate an overall forecast, although it may not be the most accurate way to forecast volume, if the overall/high-level forecast/volume-count is your goal). (Eric Siegel, Ph.D., consultant in predictive analytics)

It looks like the arguments against merger are pretty good. I am removing the merge tag.CommodiCast 15:38, 15 September 2006 (UTC)

Yes, I agree. I plan to improve the forecasting article, and will then make a more explicit reference to forecasting from the predictive analytics page. Apdevries 21:51, 15 September 2006 (UTC)