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Predictive Analytics

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What Is Predictive Analytics?

Predictive analytics is a form of advanced analytics that uses historical data, statistical modeling, data mining techniques and machine learning to uncover patterns and form predictions about future outcomes. Predictive analytics allows companies to utilize multidimensional factors to identify growth opportunities and risks, particularly when used to examine insights found within big data.

Where Can I Use Predictive Analytics?

  • Marketing and e-commerce
  • Financial forecasting
  • Long and short-term lending
  • Insurance
  • Healthcare
  • Company operations and logistics
  • Meteorology and weather forecasts

Related Reading on Built In5 Probability Questions to Test Your Data Skills

 

What Is Predictive Analytics Used For?

Predictive analytics is used to heighten competitive advantage and increase revenue by using insights uncovered from data.

Predictive analytics can be exceptionally useful in a number of areas, including:

  • Recommending similar purchases to shoppers 
  • Developing algorithms to suggest relevant content based on user interests and preferences
  • Fraud detection and risk reduction
  • Determining whether to extend credit to a person or organization by using previous credit history and income factors to determine the likelihood of defaulting on a loan
  • Predicting when and why patients may be readmitted to the hospital
  • Creating and optimizing marketing campaigns to account for factors such as seasonality, customer behavior and cross-selling opportunities
  • Improving operations within a company by using forecasting models to determine the best allocation of resources

These are just a few areas in which predictive analytics are routinely employed. There are many, many more.

The Fundamentals of Predictive Analytics. | Video: Decisive Data

 

What Does a Predictive Analyst Do?

Predictive analysts examine data and build analytical models that predict future outcomes of ongoing events or trends.

Predictive analysts are responsible for analyzing data volumes and uncovering insights that can be proven based on trends in data. These analysts then build predictive forecasting models to predict how these trends will expand over time and what threats companies should be aware of. 

Becoming a predictive analyst, sometimes referred to as an operations research analyst depending on the context, requires all of the prerequisites for becoming a data scientist, such as a bachelor’s degree in math, science or a similar field, a master’s degree in data science or statistics, and extensive data training and experience.

According to the Bureau of Labor Statistics, the median annual wage for operations research analysts was $86,200 in May 2020, with the lowest ten percent earning less than $48,050 and the highest ten percent earning more than $144,330. For more salary information submitted directly by industry professionals, see Built In’s salary tool.

Courses

Expand Your Predictive Analytics Career Opportunities

Learn predictive analytics fundamentals and other data science skills with expert-led courses from Udemy.

Udemy

Topic:

Learn how to build Predictive and Prescriptive Models using Numerical Data

 

What you'll learn:

  • Understand the difference between Cross sectional and Longitudinal…

4.2
(8)
Udemy

 Topic:

Manipulate, analyze, and visualize your data with powerful Python libraries - Pandas and scikit-learn

 

What you'll learn:

  • Learn to read different…

4.3
(99)
Udemy

Topic:

Learn how different domains can apply predictive analytics .Quick guide for analytics & machine learning professionals.

 

What you'll learn:

  • predictive…

3.7
(8)
Udemy

Topic:

Understand the concept of ARIMA model and how to make sense of it in business

 

What you'll learn:

  • Will learn the concept of ARIMA model

  • How…

3.3
(19)
Certifications

Predictive Analytics Certifications + Programs

Help your resume stand out from the rest with data science certifications from Udacity.

General Assembly’s Data Science part-time course is a practical introduction to the interdisciplinary field of data science and machine learning, which lies at the intersection of computer science, statistics, and business. You will learn to use the Python programming language to acquire, parse, and model data for informing business strategy. 

This is a fast-paced course with some prerequisites. Students should be comfortable with programming fundamentals, core Python syntax, and basic statistics. There is an option to complete up to 25 hours of online preparatory lessons. Talk to the General Assembly Admissions team to discuss your background and confirm if this is the right fit for you..

 

What you'll accomplish

A significant portion of the course is a hands- on approach to fundamental modeling techniques and machine learning algorithms. You’ll also practice communicating your results and insights by compiling technical documentation and a stakeholder presentation. Throughout this expert-designed program, you’ll:

  • Perform exploratory data analysis with Python.
  • Build and refine machine learning models to predict patterns
  • from data sets.
  • Communicate data-driven insights to technical and non-technical audiences alike.
  • Apply what you’ve learned to create a portfolio project: a predictive model that addresses a real-world data problem.

 

Why General Assembly

Since 2011, General Assembly has graduated more than 40,000 students worldwide from the full time & part time courses. During the 2020 hiring shutdown, GA's students, instructors, and career coaches never lost focus, and the KPMG-validated numbers in their Outcomes report reflect it. *For students who graduated in 2020 — the peak of the pandemic — 74.4% of those who participated in GA's full-time Career Services program landed jobs within six months of graduation. General Assembly is proud of their grads + teams' relentless dedication and to see those numbers rising. Download the report here.

 

Your next step? Submit an application to talk to the General Assembly Admissions team


 

Note: reviews are referenced from Career Karma - https://careerkarma.com/schools/general-assembly

 

General Assembly

General Assembly’s Data Analytics Immersive is designed for you to harness Excel, SQL, and Tableau to tell compelling stories with a data driven strategy. This program was created for analysts, digital marketers, sales managers, product managers, and data novices looking to learn the essentials of data analysis. 

 

What you'll accomplish

You will learn to use industry tools, Excel, and SQL to analyze large real world data sets and create data dashboards and visualizations to share your findings. The Data Analytics Accelerator culminates in a.

Throughout this expert-designed program, you’ll:

  • Use Excel, SQL, and Tableau to collect, clean, and analyze large data sets.
  • Present data-driven insights to key stakeholders using data visualization and dashboards.
  • Tell compelling stories with your data.
  • Graduate with a professional portfolio of projects that includes a capstone project applying rigorous data analysis techniques to solve a real-world problem

 

Why General Assembly

Since 2011, General Assembly has graduated more than 40,000 students worldwide from the full time & part time courses. During the 2020 hiring shutdown, GA's students, instructors, and career coaches never lost focus, and the KPMG-validated numbers in their Outcomes report reflect it. *For students who graduated in 2020 — the peak of the pandemic — 74.4% of those who participated in GA's full-time Career Services program landed jobs within six months of graduation. General Assembly is proud of their grads + teams' relentless dedication and to see those numbers rising. Download the report here.

 

Your next step? Submit an application to talk to the General Assembly Admissions team


 

Note: reviews are referenced from Career Karma - https://careerkarma.com/schools/general-assembly

 

General Assembly

General Assembly’s Data Science Immersive is a transformative course designed for you to get the necessary skills for a data scientist role in three months. 

The Data Science bootcamp is led by instructors who are expert practitioners in their field, supported by career coaches that work with you since day one and enhanced by a career services team that is constantly in talks with employers about their tech hiring needs.

 

What you'll accomplish

As a graduate, you will be ready to succeed in a variety of data science and advanced analytics roles, creating predictive models that drive decision-making and strategy throughout organizations of all kinds. Throughout this expert-designed program, you’ll:

  • Collect, extract, query, clean, and aggregate data for analysis.
  • Gather, store and organize data using SQL and Git.
  • Perform visual and statistical analysis on data using Python and its associated libraries and tools.
  • Craft and share compelling narratives through data visualization.
  • Build and implement appropriate machine learning models and algorithms to evaluate data science problems spanning finance, public policy, and more.
  • Compile clear stakeholder reports to communicate the nuances of your analyses.
  • Apply question, modeling, and validation problem-solving processes to data sets from various industries to provide insight into real-world problems and solutions.
  • Prepare for the world of work, compiling a professional-grade portfolio of solo, group, and client projects.

 

Why General Assembly

Since 2011, General Assembly has graduated more than 40,000 students worldwide from the full time & part time courses. During the 2020 hiring shutdown, GA's students, instructors, and career coaches never lost focus, and the KPMG-validated numbers in their Outcomes report reflect it. *For students who graduated in 2020 — the peak of the pandemic — 74.4% of those who participated in GA's full-time Career Services program landed jobs within six months of graduation. General Assembly is proud of their grads + teams' relentless dedication and to see those numbers rising. Download the report here.

 

Your next step? Submit an application to talk to the General Assembly Admissions team


 

Note: reviews are referenced from Career Karma - https://careerkarma.com/schools/general-assembly

 

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