How do you carry out predictive analytics?

Question

Accepted Answer

Predictive analytics involves using data, statistical algorithms, and machine learning to identify future outcomes based on historical data.

Define the problem: Identify what you want to predict, e.g., customer churn.
Collect data: Gather historical data relevant to the prediction, such as customer behavior.
Data preprocessing: Clean and prepare the data for analysis, handling missing values and outliers.
Choose a model: Select appropriate algorithms, like regression or decision trees, based on the problem type.
Train the model: Use historical data to train the model, adjusting parameters for accuracy.
Validate the model: Test the model on unseen data to evaluate its predictive power.
Deploy and monitor: Implement the model in a real-world scenario and continuously monitor its performance.

Popular interview questions of IT System Analyst