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All Blog Posts Tagged 'predictive' (44)

Cross-validation in R: a do-it-yourself and a black box approach

In my previous post, we saw that R-squared  can lead to a misleading interpretation of the quality of our regression fit, in terms of prediction power. One thing that R-squared offers no protection against is overfitting. On the other hand, cross validation, by allowing us to have cases in our testing set that are different from the cases in our training set,  inherently offers protection against overfittting.

1.Do-it-yourself leave-one-out cross validation in R.

In this type…

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Added by Theophano Mitsa on May 22, 2013 at 8:06am — 2 Comments

Use PRESS, not R squared to judge predictive power of regression

R squared, also known as coefficient of determination, is a popular measure of quality of fit in regression. However, it does not offer any significant insights into how well our regression model can predict future values. Instead, the PRESS statistic (the predicted residual sum of squares) can be used as a measure of predictive power. The PRESS statistic can be computed in the leave-one-out cross validation…

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Added by Theophano Mitsa on May 12, 2013 at 9:00am — 4 Comments

Predictive Analytics in Campaign Management

One of the most popular application of predictive analytics is optimization of marketing campaign management. I've implemented it several times for clients in four different industries and here is my solution.

Introduction to campaign management

Marketing departments are usually responsible for management the marketing campaigns. Campaigns always have some triggers - may be planned, triggered by customer events and various alerts. Campaigns are run for a…

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Added by Jozo Kovac on May 7, 2013 at 7:00pm — No Comments

Predicting Lying and Predicting Dying

Who benefits by predicting your behavior? Organizations do—companies, governments, hospitals, and political campaigns. They employ predictive analytics, technology that learns from data to render per-person predictions, one individual at a time.

 

People have been struck by the final words in the title of my new book on this subject, Predictive Analytics: The Power to Predict Who Will Click, Buy, Lie, or Die (…

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Added by Eric Siegel on April 4, 2013 at 1:53pm — No Comments

Get "Predictive Analytics" - the Book - and Enjoy Free Online Training

Predictive Analytics: GET THE BOOK AND RECEIVE FREE ONLINE TRAINING

April 3rd is "Predictive Analytics" Day - not the science, the book! To build awareness of Eric Siegel's new, acclaimed book, "Predictive Analytics: The Power to Predict Who Will Click, Buy, Lie, or Die" (published by Wiley Feb. 19), we're providing an offer ya can't refuse.

ORDER THE BOOK ON APRIL 3 VIA AMAZON (under $15) FOR:

1. Free access to the first of four modules of the…

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Added by Eric Siegel on March 12, 2013 at 11:04am — No Comments

Deathwatch: Five Reasons Organizations Predict When You Will Die

This article was also published on Smart Blogs



Eric Siegel, Ph.D.



Retirement kills more people than hard work ever did.

—Malcolm Forbes



I'm not afraid of death; I just don't want to be there when it happens.

—Woody Allen



Who benefits by predicting your behavior? Organizations do—companies, government agencies,…

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Added by Eric Siegel on March 4, 2013 at 12:08pm — No Comments

Applying Data Analysis Techniques to Solve Big Data Challenges

A recent article entitled "Nate Silver on big data's future: It's about attitude" appeared on fcw.com (The Business of Federal Technology).   The full article along with the points made below can be read here:

http://www.scoop.it/t/big-data-technology-applications-and-analytics

In the meantime, what came to mind has to do with different analytic approaches being used together to solve a…

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Added by Tony Agresta on February 26, 2013 at 1:22pm — No Comments

The Future of Prediction: Predictive Analytics in 2020

What's next is what's next… Predictive analytics is where business intelligence is going.

— Rick Whiting, InformationWeek



Ten Predictions for the First Hour of 2020



Good morning. It's January 2, 2020, the first workday of the year. As you drive to the office, the only thing predictive analytics doesn't do for you is steer the car (yet that's coming soon as well).



1. Anti-theft. As you enter your car, a predictive model establishes your…

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Added by Eric Siegel on February 26, 2013 at 9:34am — No Comments

Team Obama Mastered the Science of Mass Persuasion - and Won

Last October, a colleague and I speculated on how a special, powerful form of predictive analytics would revolutionize presidential campaigning—and, if successful, how it might be poorly received by the public thereafter. In our work, he and I focus more on financial, marketing, and online applications of this technology. But we bet the story would break within politics by 2016 or 2020.



Surprise: There's no wait! After Obama's win in November, we've learned they already did this.…

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Added by Eric Siegel on February 20, 2013 at 8:47am — No Comments

Read the Preface for Siegel’s Book – Predictive Analytics

Read the Preface for Siegel’s Book – Predictive Analytics



Here is the preface for Predictive Analytics: The Power to Predict Who Will Click, Buy, Lie, or Die



By Eric Siegel, with a foreword from Tom Davenport

(Wiley, February 2013)

 

To order the book:…

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Added by Eric Siegel on February 8, 2013 at 6:30am — No Comments

Digesting Big Data

Big Data holds a big promise. But has that promise paid out already? Or are you heading for Big Dollar Disaster? Many take inventory of their data and find out they have terabytes of data lying around. Surely something should be done with that, so here’s how we see a lot of companies going about implementing ‘something’ for their Big Data.

  • Buy hardware, set up a cluster and install some flavor of Hadoop.
  • Break their brains to figure out how to run map-reduce…
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Added by Jos Verwoerd on November 13, 2012 at 4:04am — No Comments

Let's Predict the Next "Voice of..." Finalists!

The Voice is a very successful show that runs in 28 countries around the globe. The basic concept in each version is the same: Four famous singers act as coaches. They have to select a team of vocalists through an audition process. The teams compete internally through a process of competitive elimination, until one vocalist per coach enters the Finals. There, the best vocalist of the four is declared 'The…

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Added by Jos Verwoerd on September 26, 2012 at 6:25am — No Comments

Reading 43,388 Stories to Find a Trend

GlobalGiving used BigML to find trends in 43,388 stories. What’s the story behind that?

GlobalGiving is an online marketplace that connects givers…

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Added by Jos Verwoerd on September 5, 2012 at 6:30am — No Comments

Article: MORE Frequently-Asked Questions about Data Mining

Another recent article from Discovery Corps, Inc. president Tim Graettinger:   Grab Bag 2:  More Frequently-Asked Questions about Data Mining.  

"While helping present a monthly webinar on Data Mining, I'm asked some challenging and really pivotal questions about DM and predictive analytics:  

  1. How much data do I need? 
  2. Why doesn't my predictive model perform as well on new data as it did on the training data?
  3. Are new DM algorithms needed to…
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Added by Daniel Graettinger on January 23, 2012 at 1:26pm — 1 Comment

Hypatia Research Chairing "Customer & Marketing Analytics" Conf. Boston Nov 10-11

Call for end-user speakers! Customer & Marketing Analytics Conf. Nov 10, Boston, MA. Vendors--contact me privately! [email protected]

Added by Leslie Ament on September 30, 2011 at 11:18am — No Comments

Cross/Up-Sell & Next Best Offer

Today global markets are within reach of every organization & there is a lot of pressure in increasing the revenues and market share.  Business leaders demand to know how customers and prospects are most likely to transact with them in the near and long term.  
The explosive growth of various mediums to reach customers has made marketing an easy but costly affair.
 
Typical sales & marketing analytics will involve…
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Added by Sandeep Raut on September 12, 2011 at 7:51pm — No Comments

Another article from my company: Going Green with Data Mining

I thought I'd post another article from my company's president, Tim Graettinger.  Here's a little intro:  "More and more individuals and firms are taking steps to reduce their carbon footprints.  What about data mining - can it contribute to a company's efforts to have a positive impact on the environment?  My answer is an unequivocal 'yes', and in this article you'll learn the reasons why.  We'll explore a sampler platter of data mining applications that can benefit you, your company, your… Continue

Added by Daniel Graettinger on June 20, 2011 at 8:09pm — No Comments

Fitzgerald Analytics Named to the Inc. 5000 List: Data-Driven Businesses Continue to Thrive

This is a great accolade, and well-deserved by all of my hard working colleagues.

For more information, please see our site at www.fitzgerald-analytics.com.

Added by Gabriel Hoff on September 7, 2010 at 3:18pm — No Comments

Gartner Identifies the Top 10 Strategic Technologies for 2010

I'm sure this is probably already old news here, but wanted to share a recent report from the Gartner Group. Advanced Analytics and Cloud Computing - the top two forecasted strategic technology trends.
http://www.gartner.com/it/page.jsp?id=1210613
How many organizations are not yet taking advantage of either or both of these technologies?

Added by Stanley Barton on November 10, 2009 at 1:40pm — No Comments

Invitation to join Predictive Model Markup Language (PMML) interest group on LinkedIn

The primary focus of this forum is to create more awareness for the PMML data mining standard among practitioners, business users and IT stakeholders. We encourage discussions related to technology, IT benefits, but most of all, practical applications and business value.



Predictive Model Markup Language (PMML) group:

http://www.linkedin.com/groupRegistration?gid=2328634



Thanks… Continue

Added by Michael Zeller on October 7, 2009 at 8:00pm — No Comments

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