Effective Predictive Analytics and Modeling Based on Historical Data

Abstract

Advances in all the fields of everyday life, in the past decade have laid a foundational block for production of huge amount of data. In this age of algorithms where everything is within the finger tips, this huge amount of data is of no use unless and until it is not converted to a form which is beneficial and meaningful for the recipient to do something beneficial. This is taken care of by the Predictive analytics, which involves use of various statistical models, data mining techniques, artificial intelligence, machine learning and others to extract meaningful insights from data. Business ventures are constantly being flooded with huge amount of data that is generated from time to time. So there is a need to develop new approaches to foresee the time series data. This research paper presents the predictive analytics of time series data by taking real world data, to build an effective model for prediction. The results obtained were quite interesting.