Business applications of predictive analysis
Forecasting is using data trends and cycles to predict future values. For example, claims, sales, and expenses data have seasonality and trends. When we count their cycles and trends, we can predict their future values reasonably well. There are two commonly used forecasting techniques: regression analysis and time series analysis. In terms of regression analysis, MicroStrategy supports linear regression, exponential regression, tree regression, and logistic regression. Logistic regression generally applies to predicting categorical target variables, while other regressions models generally apply to predicting numerical target variables.
In this section, we will demonstrate MicroStrategy's predictive analysis capabilities with several business applications. You will see that MicroStrategy has simplified the work to the extent that using different types of data mining model is simply a single mouse click away.
