Prediction

Prediction is the process of making informed guesses about future events based on historical data, patterns, and statistical models. It plays a crucial role in various fields, including finance, weather forecasting, and machine learning. Predictions can be categorized into estimation, which occurs after an event, and forecasting, which explicitly incorporates a temporal dimension to anticipate future occurrences. By leveraging algorithms and domain knowledge, predictions aim to provide insights that guide decision-making and strategic planning. Understanding the principles of prediction can enhance accuracy and reliability, ultimately improving outcomes in both personal and professional contexts.

Probabilistic Predictions

 Towards Data Science

In data science, the traditional approach to dealing with prediction error reminds me of the iceberg metaphor. Our models cannot predict the future perfectly, so we optimize them to push the…

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Estimation, Prediction and Forecasting

 Towards Data Science

Estimation implies finding the optimal parameter using historical data whereas prediction uses the data to compute the random value of the unseen data. Estimation is the process of optimizing the…

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A Theory of Prediction

 Towards Data Science

The Signal and the Noise is probably the most informative non-technical book about the art of predicting ever written. It outlines what is best described as Nate Silver’s “Theory of Prediction”…

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From prediction to decision making

 Towards Data Science

Prediction (correlation) does not imply causation, and it is not sufficient to correctly inform decision and policy makers.

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Python Predicts PUBG Mobile

 Towards Data Science

It is impossible to predict the Future! ( Unless you have a time stone -:) ). But predicting the immediate future is not very hard for us (Humans). We do it in the real life quite often — while…

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Predicting Probabilities — Logit Model Analysis

 Analytics Vidhya

Purpose: Predicting which applicants will complete their application for admission. The result will help focus recruitment efforts more effectively and efficiently; especially helpful in a time…

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Regression

 Towards Data Science

Regression is an incredibly powerful statistical tool that, when used correctly, has the ability to help you predict certain values. Prediction is a big deal for data analysis. Some would argue that…

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Making Prophecies with Data

 Towards Data Science

Forecasting is a problem common to many industries and is often deployed in scenarios such as financial planning, sales/demand forecasting, marketing campaign analysis, predictive maintenance, and…

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The Art of Explaining Predictions

 Towards Data Science

How to explain your model in a human-friendly way Continue reading on Towards Data Science

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The Art of Making Better Predictions

 Towards Data Science

The day-to-day work of a data scientist can involve very complex concepts, but at its core we find a simple premise: if we look at enough (reliable) information from the past, we might be able to say ...

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Making Predictions with Sequences

 Machine Learning Mastery

Last Updated on August 14, 2019 Sequence prediction is different from other types of supervised learning problems. The sequence imposes an order on the observations that must be preserved when trainin...

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Predictive Models

 Analytics Vidhya

The above image of a basketball player would have made you to think what a basketball player had to do with predictive models in ML. But this is what we will be focussing on in this story, where I…

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