A process[4] used in predictive analytics[1] to create a statistical model[5] of future behavior. Predictive analytics[3] is the area of data mining[2] concerned with forecasting probabilities and trends.
A range of analytical and statistical techniques used for developing models that may be used to predict future events or behaviors.
Process that finds relationships and patterns within a large amount of data stored in a database. The process uses tools based on algorithms to sift through mounds of data to find relationships.
The mechanism through which the data are transformed, manipulated and created into output such as a report, a decision etc. A series of activities that need to be carried out to accomplish some sort of organizational goal. A sequence of events or activities that are triggered by something happening and results in something being achieved.
