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Predictive modeling

Dataconomy

Predictive modeling is a mathematical process that focuses on utilizing historical and current data to predict future outcomes. By identifying patterns within the data, it helps organizations anticipate trends or events, making it a vital component of predictive analytics.

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Artificial Neural Network: A Comprehensive Guide

Pickl AI

For instance, they are employed in financial forecasting, where they analyse past market trends to predict future stock prices. Similarly, in healthcare, ANNs can predict patient outcomes based on historical medical data. They may employ neural networks to enhance predictive analytics and improve business outcomes.