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Predictive Modelling Techniques

oboloo Glossary

Predictive Modelling Techniques

Predictive modelling techniques are methods used to help anticipate future events from data generated by past events. These methods, which draw on statistical and machine learning algorithms, analyze various forms of input data to provide accurate predictions about the likelihood of certain outcomes, such as customer purchases or product defect rates. Predictive modelling can provide a powerful tool for businesses looking to maximize the value of their data and gain an edge over competitors. By using predictive models to better understand customer behaviour, businesses can identify opportunities to generate greater returns and optimize operations.

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