How Machine Learning Can Be Used To Improve Predictive Analytics
How Machine Learning Can Be Used To Improve Predictive Analytics
How Machine Learning Can Be Used To Improve Predictive Analytics
https://doi.org/10.22214/ijraset.2022.48432
International Journal for Research in Applied Science & Engineering Technology (IJRASET)
ISSN: 2321-9653; IC Value: 45.98; SJ Impact Factor: 7.538
Volume 10 Issue XII Dec 2022- Available at www.ijraset.com
Abstract: Machine learning algorithms are being used to improve predictive analytics. These algorithms are getting better at
predicting future data. This is a great thing. But there are a few things you need to know before you begin to use these
algorithms. Machine learning is an important part of predictive analytics and can increase the speed of data analysis and
processing. It also allows predictive analytics algorithms to learn on larger data sets and conduct deep analysis on multiple
variables.
As a result, machine learning has become an important part of many businesses. Though there is still some controversy
regarding its use, many industries are successfully implementing it. This technique has a long history of use in the financial
sector, particularly in banking and investing, E-commerce, Customer service, Medical Diagnosis, Sales and Marketing,
Financial Services, Cybersecurity and can help organizations forecast asset values. Additionally, it can help users understand
the relationships between variables.
The latest advances in predictive analytics use neural networks, which simulate the functions of the human brain. Machine
learning algorithms can be used by businesses for several applications, including healthcare. For example, predictive analytics
can help organizations save money by optimizing staff schedules, identifying patients at risk of readmission, and improving
pharmaceutical and supply management. The first step is finding datasets for the machine learning model. This can be done
through various methods, including data discovery and data augmentation. Data discovery involves using existing datasets or
searching for new ones. Data augmentation refers to using crowd-sourced datasets to complete machine-learning tasks. In this
article we'll cover: automated machine learning and data-driven predictive analytics.
Keywords: Machine Learning, Predictive Analytics, Algorithm, XGBoost, Naive Bayes, K-fold, Variables, Time series,
Scalability, Automated, Cybersecurity, Decision making.
I. INTRODUCTION
A machine-learning model can be trained by using a training dataset and a test dataset. The trained model can then predict the
dependent variable for each instance of data. The dependent variable can be categorical. The difference between the predicted and
actual category is called the generalization error. The underlying machine learning model can then be evaluated by comparing the
values of the predicted and test data. Machine learning algorithms are often the basis for predictive analytics. These algorithms
allow companies to make informed decisions based on data. In today's business environment, predictive analytics is increasingly
becoming a vital component of a business' success. By understanding the data underlying customer behavior, predictive analytics
algorithms can help companies make better decisions based on those insights. Machine learning models are often used to solve
classification problems, but they can also be applied to project analytics. Unlike traditional statistical methods, machine learning
models can identify significant features despite the collinearity and distribution of data. However, current studies of machine
learning in project analytics have been relatively limited. Most have focused on project cost estimation and risk prediction, although
some have used machine learning to improve the optimisation of existing processes. Machine learning models can be used to learn
about data by training them with unsupervised or supervised learning methods. The former requires labels on training data, while the
latter requires unlabeled data. Research has shown that using unlabeled data can improve learning accuracy.
©IJRASET: All Rights are Reserved | SJ Impact Factor 7.538 | ISRA Journal Impact Factor 7.894 | 2199
International Journal for Research in Applied Science & Engineering Technology (IJRASET)
ISSN: 2321-9653; IC Value: 45.98; SJ Impact Factor: 7.538
Volume 10 Issue XII Dec 2022- Available at www.ijraset.com
A. Machine Learning
Machine learning is a powerful analytical tool that uses data and mathematical models to predict the likely future behavior of things
or people. This can help in a variety of areas, from predicting future sales to predicting the maintenance needs of machines. In
addition, predictive analytics can help detect network intrusions. It can also help businesses better understand the behaviors of their
customers (Ongsulee, et al., 2018).
B. Predictive Analytics
Machine learning can help to improve predictive analytics in many ways. First, it can help to build an architecture for the
application of predictive analytics. Secondly, it is essential to have quality data to learn from. This data should be centralized,
unified, and in a consistent format. Additionally, it is essential to know what problems you want to solve with the data, since this
will help you determine the best model to use. Finally, predictive analytics can help to improve efficiency across all stages of a
business (Peterson, 2019).
E. Customer Segmentation
One way to improve customer segmentation is to use machine learning algorithms. These algorithms cluster datasets based on
certain patterns and are capable of dividing customers into highly specific groups. They also require little or no human supervision.
Hence, they can be used for predictive analytics without hiring a data scientist (Zhang, Chen & Hong, 2022).
F. Cost-benefit Analysis
The adoption of predictive analytics in healthcare has the potential to transform the healthcare industry by delivering highly
personalized patient care. Increasing pressure on health care providers to improve coordination of care, improve patient outcomes,
and drive positive business results has led to the development of machine learning algorithms to process real-time and historical data
(Henrys, 2021). These algorithms can help physicians to detect warning signs and potentially life-threatening conditions before they
occur.
G. E-Commerce
Machine learning algorithms can learn patterns and trends from data through pattern recognition. They can also apply those patterns
and trends to new data. Supervised machine learning involves labeled data to make predictions; unsupervised machine learning uses
unlabeled data to find patterns (Antoniou, et al., 2022).
H. Medical Diagnosis
Machine Learning algorithms can be programmed to use past patient data to predict future outcomes. This can help healthcare
professionals make more informed decisions about a patient's risk for serious complications and mortality. These techniques can be
used to improve patient outcomes, as well as improve the efficiency of the healthcare system (Buchanan & Fan, 2017).
©IJRASET: All Rights are Reserved | SJ Impact Factor 7.538 | ISRA Journal Impact Factor 7.894 | 2200
International Journal for Research in Applied Science & Engineering Technology (IJRASET)
ISSN: 2321-9653; IC Value: 45.98; SJ Impact Factor: 7.538
Volume 10 Issue XII Dec 2022- Available at www.ijraset.com
For example, machine Learning models have been developed and evaluated for predictive analytics. Typically, they are used for
classification problems but can also be applied in project analytics. In these cases, it is necessary to convert non-categorical
objective variables into categorical variables. For example, a project cost may be categorized into two possible values. Then, a
machine learning model can be developed that can make correct predictions (Peterson, 2019).
J. Cybersecurity
Predictive analytics can be used to help cybersecurity practitioners detect and prevent threats. These analytics can make
cybersecurity easier, less expensive, and more effective. But to make these tools effective, they need a complete picture of data.
Machine learning algorithms require rich data from everywhere and must be able to represent as many potential outcomes as
possible. Machine learning algorithms are becoming increasingly useful in cybersecurity, because they can help cybersecurity teams
identify threats and respond to security incidents more quickly and effectively. These algorithms are already built into many security
tools, and they are gradually replacing traditional methods of inference. A popular machine learning algorithm is regression, which
seeks to identify correlations between datasets (Leung, et al., 2020). For example, a regression algorithm can be used to predict the
next system call of an operating system process, and then compare the predicted call to the actual call. Using machine learning
techniques, a cybersecurity expert can create a model of network behavior and predict potential attacks. Then, he can determine
which areas of the network are more vulnerable to attacks. This type of analysis can improve cybersecurity by identifying which
areas are most susceptible to attacks and assessing the likelihood of each attack occurring. Machine learning algorithms can improve
email spam detection, malware detection, and social engineering detection. They can also characterize email threats by reading the
body and header data and detecting common patterns (Nichol, Batten & Cho, 2021).
©IJRASET: All Rights are Reserved | SJ Impact Factor 7.538 | ISRA Journal Impact Factor 7.894 | 2201
International Journal for Research in Applied Science & Engineering Technology (IJRASET)
ISSN: 2321-9653; IC Value: 45.98; SJ Impact Factor: 7.538
Volume 10 Issue XII Dec 2022- Available at www.ijraset.com
5) Scalability of Machine Learning: Scalability is critical when deploying machine learning for predictive analytics. Machine
learning applications must scale as users increase, and the number of models increases. Otherwise, the processing requirements
may outgrow the capacity of the model. The LinkedIn article provides an example of how this can result in the incorrect
recommendation of products or services (Leung, et al., 2020). Scalability is a critical issue for machine learning because a
system must be scalable in both space and time. Even though some simple systems can operate on a single computer, more
complex models require a distributed architecture. The data must be available on dozens or hundreds of servers.
6) Impact on Decision Makers: Machine learning has several benefits for decision makers. It can make better predictions and
reduce the need for human intervention. It can also speed up the decision making process. In many cases, it can make decisions
that were once considered impossible. This technology can be a powerful tool for businesses of all sizes and sectors (Nichol,
Batten & Cho, 2021).
7) Predictive Analytics is a Growing Field: Predictive analytics is a growing field that is taking advantage of machine learning and
AI algorithms. These algorithms analyze massive data sets to identify trends and patterns. They can predict things like riskiness
of mortgage applicants, interest rates and loan size, and can even detect fraud (Antoniou, et al., 2022).
V. CONCLUSION
Machine Learning is an advanced analytics method that uses algorithms to generate and interpret data. It has many uses in
businesses and is increasingly popular for commercial use. It is a powerful tool for organizations to gain hidden insights from
historical data. It can identify and predict trends in consumer behavior. Predictive analytics is also used in the health industry to
better identify and respond to high-risk customers. It can also be used in insurance claim collection and fraud detection. It can help
optimize marketing campaigns and promotions, as well as evaluate customer behavior and identify up-sell and cross-sell
opportunities. The education sector, for example, collects mountains of data. Data sampling can help organizations build better
predictive models using existing student records. For instance, schools can use records from past students to create algorithms that
predict new students' performance.
©IJRASET: All Rights are Reserved | SJ Impact Factor 7.538 | ISRA Journal Impact Factor 7.894 | 2202
International Journal for Research in Applied Science & Engineering Technology (IJRASET)
ISSN: 2321-9653; IC Value: 45.98; SJ Impact Factor: 7.538
Volume 10 Issue XII Dec 2022- Available at www.ijraset.com
These insights can help improve student outcomes and improve the operation of institutions. Machine Learning is an artificial
intelligence (AI) technology that uses historical data to predict future values. The most popular application of machine learning is in
recommendation engines, but it is also used in spam filtering, fraud detection, malware detection, and business process automation.
“Finally, machine learning is an important tool for predictive analytics. Its algorithms can learn from vast data troves, making
predictive models more accurate and adaptive over time. With the right machine learning model, companies can improve their
business operations and generate more revenue, increase competitive advantage, and reduce costs.”
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