Data Science: Predictive Modelling

Data Science: Predictive Modelling

                What  is  Predictive Model?image2


                                                             Predictive Modelling


Predictive analytics is not only describes what’s happening, they predict what WILL happen in the future.Predictive modelling is the process of creating, testing and validating a model to best predict the probability of an out come.


                                                         Predictive Model Life Cycle


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                                                 Define Business Problem/ opportunity


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                                                Key metrics and data procurement




                                                         Analyze and enrich the data


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                                                          Model building and validation


                                                                  Model Deployment


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                                                                 Monitor and Improve




Sexiest job of the century? Data Analytics

Sexiest job of the century? Data Analytics

Sexiest job of the 21st century is Data Scientist

But What skills you should attire if you are “Aspiring Data Scientist”?

Most of us are now quite familiar with terms like Big Data , Analytics, Data Science and Data Scientist.

But to be a data scientist you should have right mix of knowledge on business, technology and statistical methods.

Technical Skills :

Start Learning R and Python and Jasper, Tableau : R and Python are the two most widely used programming languages used by lot of analytics professionals along with SAS. having these languages in your armory is going to be a huge advantage for you.

Statistical knowledge :

You need expertise in supervised, unsupervised machine learning algorithms.

Example: logistic regression, cluster, factor, decision trees, CHAID, neural networks. Time series and forecasting models.

Business understanding :

Understanding business is key to be a successful data scientist. How do you gain this?

1. Learn From Peers : Lot of professionals in data analytics field are posting their work on their blogs, or sharing the links of their git-hub repositories. You can find many useful posts on blogs like
R-Bloggers , FiveThirtyEight ,Revolutions and websites like Kdnuggets.

Join Data Science Competitions : There are lots of different forums like KaggleCrowdAnalyticx , DrivenData etc. where you can participate in data science competition. You gain lot by applying knowledge on real data sets and also comparing yourself against your peers. There are lot of useful forums and discussion boards on these platforms where you can learn new techniques and approaches.

Develop the Ability of Story Telling : Data Scientist is someone who is not just required to understand the technical and business aspects of the problem, but also needs to explain the end results to top management and CXOs in the form of a story that will enable them to take right business decisions. So start practicing explaining complex business problem and its solution to a person who don’t know anything about it.

Write Blogs , Share Articles : Writing blogs about your work and sharing with it with others is a great way to showcase your work as well as to help others to learn from you. Writing a solution to a complex analytics problem you solved and explaining it in the form of a story can be a great practice to your story telling skills as well.