Monday, May 27, 2019

Predictive Analytics


  • Lyric Analysis: Predictive Analytics using Machine Learning with R

Use a variety of machine learning (ML) classification algorithms to build models step-by-step that predict the genre of a song and whether it will be successful on the Billboard charts - based entirely on lyrics
This tutorial explains and provides a musical use case for a form of supervised learning, specifically classification, that is based on the lyrics of a variety of artists (and a couple of book authors).
In this tutorial, you have built a model to predict the genre of a song based entirely on lyrics. You used supervised machine learning classification algorithms and trained models on a set of five different artists and five different genres. By using the mlr framework, you created tasks, learners and resampling strategies to train and then tune a model(s). Then you ran your model against an unseen test dataset of different artists. You were able to identify which algorithms work better with the default settings, and eventually, predict the genre of new songs that your model has never seen
https://www.datacamp.com/community/tutorials/predictive-analytics-machine-learning



  • Machine Learning vs Predictive Analytics – 7 Useful Differences


Predictive analytics is also a part of machine learning domain which is limited to predict future outcome from data based on previous patterns.
While predictive analytics has been in use since more than two decades mainly in banking and finance sector, application of machine learning has taken prominence in recent time with algorithms like object detection from images, text classification, and recommendation systems.

Machine learning internally uses statistics, mathematics, and computer science fundamentals to build logic for algorithms that can do classification, prediction, and optimization in both real times as well as batch mode.

Classification
we tend to classify an object based on its various properties into one or more classes.
There are many standard machine learning algorithms which are used to solve classification problem. Logistic regression is one such method, probably most widely used and most well know, also the oldest. Apart from that we also have some of the most advanced and complicated models ranging from decision tree to random forest, AdaBoost, XP boost, support vector machines, naïve baize and neural network. Since the last couple of years, deep learning is running at the forefront. Typically neural network and deep learning are used to classify images. If there are hundred thousand images of cats and dog and you want to write a code that can automatically separate images of cats and dog, you may want to go for deep learning methods like a convolutional neural network.

Regression
Regression is another class of problem in machine learning where we try to predict a continuous value of a variable instead of a class unlike in classification problem.  Regression techniques are generally used to predict the share price of a stock, sale price of a house or car, a demand for a certain item etc.

Predictive Analytics
There are some areas of overlap between machine learning and predictive analytics. While common techniques like logistic and linear regression come under both machine learning and predictive analytics, advanced algorithms like a decision tree, random forest etc. are essentially machine learning. Under predictive analytics, the goal of the problems remains very narrow where the intent is to compute a value of a particular variable at a future point of time. Predictive analytics is heavily statistics loaded while machine learning is more of a blend of statistics, programming, and mathematics.
https://www.educba.com/machine-learning-vs-predictive-analytics/



  • Big Data

Big Data has emerged over the last years as a concept to handle data that requires new data modeling concepts, data structures, algorithms and/or large-scale distributed clusters.

OLTP has been around for a long time and focuses on transaction processing. When the concept of OLTP emerged it has been usually a synonym for simply using relational databases to store various information related to an application – most people forgot that it was related to processing of transactions. Additionally, it was not about technical database transactions, but business transactions, such as ordering products or receiving money. Nevertheless, most relational databases secure business transactions via technical transactions by adhering to the ACID criteria.
Today OLTP is relevant given its numerous implementations in enterprise systems, such as Enterprise Resource Management systems, Customer Relationship Management systems or Supply Chain Management systems

OLAP has been around nearly as long as OLTP, because most analysis have been done on historized transactional data. Due to the historization and different analysis needs the amount of data is significant higher than in OLTP systems. However, OLAP has a different access pattern: Less concurrent users, but they are interested in the whole set of data, because they want to generate aggregated statistics for them. Hence, a lot of data is usually transferred into an OLAP system from different source systems and afterwards it is only read very often

Going beyond OLTP and OLAP
Aspect 1: Predictive Analytics
Data scientists employing predictive analytics are using statistic and machine learning techniques to predict how a situation may evolve in the future.
Some of these techniques exist already since decades, but only since recently they make more sense, because more data can be processed with Big Data technologies.
However, current Big Data technologies, such as Hadoop, are not transparent to the end user. This is not really an issue with the Big Data technologies themselves, but with the tools used for accessing and processing the data, such as R, Matlab or SAS.

https://jornfranke.wordpress.com/2015/06/28/big-data-what-is-next-oltp-olap-predictive-analytics-sampling-and-probabilistic-databases/

  • Advanced Analytics

Advanced Analytics is the autonomous or semi-autonomous examination of data or content using sophisticated techniques and tools, typically beyond those of traditional business intelligence (BI), to discover deeper insights, make predictions, or generate recommendations. Advanced analytic techniques include those such as data/text mining, machine learning, pattern matching, forecasting, visualization, semantic analysis, sentiment analysis, network and cluster analysis, multivariate statistics, graph analysis, simulation, complex event processing, neural networks.
https://www.gartner.com/it-glossary/advanced-analytics/



  • What is advanced analytics compared to business intelligence?


Business Intelligence – traditionally focuses on using a consistent set of metrics to measure past performance and guide business planning. Business Intelligence consists of querying, reporting, OLAP (online analytical processing), and can answer questions including “what happened,” “how many,” and “how often.”

Advanced Analytics – goes beyond Business Intelligence by using sophisticated modeling techniques to predict future events or discover patterns which cannot be detected otherwise. Advanced Analytics can answer questions including “why is this happening,” “what if these trends continue,” “what will happen next” (prediction), “what is the best that can happen” (optimization).

Advanced Analytics vs BI
Where Business Intelligence is focused on reporting and querying, Advanced Analytics is about optimizing, correlating, and predicting the next best action or the next most likely action
https://rapidminer.com/glossary/advanced-analytics-vs-bi/


  • What is Advanced and Predictive Analytics?

Advanced analytics describes data analysis that goes beyond simple mathematical calculations such as sums and averages, or filtering and sorting. Advanced analyses use mathematical and statistical formulas and algorithms to generate new information, to recognize patterns, and also to predict outcomes and their respective probabilities.
Predictive analytics is a sub-division of advanced analytics and focuses on the identification of future events and values with their respective probabilities.
https://bi-survey.com/predictive-analytics

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