Assignment task:
Introduction:
What predictive analytics is and the main methods used in predictive analytics. We also learned about descriptive statistics.
Analyze the role of statistics in predictive analytics, and provide examples. Note that statistical techniques can be used in predictive analytics. However, they may have other use.
Directions:
Illustrate the specificity of using statistics for predictive analytics. Provide at least two real-world or academic examples of predictive analytics methods that will be described by:
- Source of data
- What is being predicted
- Statistical methods used for prediction.
- Reference to the case description (how you have learned about it).
Please, do not use the cases provided in education literature or websites showing examples of predictive analytics. Use real examples, and not one that cannot be verified.