What is predictive modelling in data science?

Question

Could someone tell me what is predictive modeling in Data Science?

Answer 1

Predictive modelling is a process of building a model through training from known values and datasets, to use it to forecast future outcomes. Now, this type of modelling is used in predictive analytics, data mining techniques, all the other methods to deduce the possibility of what might happen?

This is extensively used in Data Science in the final stages to be more accurate, to try and predict the future of the business operations or any processes from the training sets of data. It is very important for businesses present today, to scale their operations based on these modelling insights. Predictive modelling is of two types, one is parametric and the other is non-parametric modelling.

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