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Predictive analytics have been used by different industries for years to solve difficult problems that range from detecting credit card fraud to determining patient risk levels for medical conditions.... more
Over the past decade, a powerful new approach to development - open source software - has risen to prominence, dramatically increasing the opportunity to re-use existing software.
Predictive analytics have been used by different industries for years to solve difficult problems that range from detecting credit card fraud to determining patient risk levels for medical conditions. It combines data mining and machine-learning technologies to create statistical models based on historical data. It then uses these models to predict future events. Extracting the power from the data requires powerful algorithms behind predictive analytics.