Scribd
Upload
4 views9 pages

CAD Phase2

Uploaded by

sugunapandiyarajan
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
4 views9 pages

CAD Phase2

Uploaded by

sugunapandiyarajan
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
You are on page 1/ 9

Incorporating advanced analytics tools or machine

learning models for predictive analysis within the


data warehouse

Submitted by:

P. Suguna Devi
920121104045
B.E( CSE)
Bharath Niketan Engineering
College

Introduction:
In warehousing, predictive analytics consists of applying a set of
techniques and technologies such as data analysis, artificial intelligence and
machine learning to optimise logistics processes, understand customer
behaviour and anticipate market changes before they occur. Mecalux applies
predictive analytics to plan demand and configure scenarios to help
companies adapt to changing environments
database focuses on updating real-time data while a data warehouse has a
broader scope, capturing current and historical data for predictive analytics,
machine learning, and other advanced types of analysis.

Predictive Analytics:
Predictive analytics is the process of using data to forecast future
outcomes. The process uses data analysis, machine learning, artificial
intelligence, and statistical models to find patterns that might predict future
behavior.
Predictive analytics in warehousing:

Future-ready logistics:

BUSINESS FOCUS
In warehousing, predictive analytics consists of applying a set of techniques
and technologies such as data analysis, artificial intelligence and machine
learning to optimise logistics processes, understand customer behaviour and
anticipate market changes before they occur. Mecalux applies predictive
analytics to plan demand and configure scenarios to help companies adapt
to changing environments.
Logistics is becoming increasingly demanding: companies have to
adopt flexible strategies to cope with market fluctuations, adapt
to changes in consumer habits, ensure deliveries in the shortest
time possible and maximise efficiency in all operations, among
other challenges.

Predictive analytics uses historical warehouse data


to forecast scenarios and facilitate strategic
decision-making:

A report from the MIT Center for Transportation & Logistics contains
examples of organisations that are successfully embedding predictive
analytics in their supply chains. These include a transport agency capable of
predicting when containers will be unloaded and when carriers will be ready
for the next load, and a company that has managed to anticipate the ideal
time to ship orders. With predictive analytics, businesses look to minimise
risks in their supply chains and avoid possible interruptions and delays.

Predictive analytics: the power of data:


 Data drive companies’ economic growth. By measuring all
processes, organisations obtain a detailed map of their situation
and of the quality level of their logistics facilities. Predictive
analytics provides greater control over operations and lets
businesses apply measures that are conducive to optimal processes
to adapt to changing environments.
 With all the information generated in a warehouse on a daily basis,
predictive analytics has enormous potential for assessing current
business models and introducing strategic improvements to cope
with any possible market changes. Mecalux works with predictive
analytics to help its customers modernise their supply chains and
adapt them to new needs more effectively and successfully.

Predictive Analysis in Data Mining:

Predictive analysis is a form of data analysis that uses statistical


algorithms and machine learning techniques to identify the likelihood of
future outcomes based on historical data. This method of analysis is used to
make informed decisions, forecast future trends, and mitigate risks by
predicting the likelihood of various outcomes. Predictive analysis is used in a
variety of industries, including finance, healthcare, retail, and marketing.
The workflow for building predictive analytics
frameworks follows five basic steps:

1.Define the problem:

A prediction starts with a good thesis and set of requirements. For


instance, can a predictive analytics model detect fraud? Determine optimal
inventory levels for the holiday shopping season? Identify potential flood
levels from severe weather? A distinct problem to solve will help determine
what method of predictive analytics should be used.

2.Acquire and organize data:

An organization may have decades of data to draw upon, or a


continual flood of data from customer interactions. Before predictive
analytics models can be developed, data flows must be identified, and then
datasets can be organized in a repository such as a data warehouse like
BigQuery.

3.Pre-process data:

Raw data is only nominally useful by itself. To prepare the data for
the predictive analytics models, it should be cleaned to remove anomalies,
missing data points, or extreme outliers, any of which might be the result of
input or measurement errors.

4.Develop predictive models:

Data scientists have a variety of tools and techniques to develop


predictive models depending on the problem to be solved and nature of the
dataset. Machine learning, regression models, and decision trees are some of
the most common types of predictive models.

5.Validate and deploy results:


Check on the accuracy of the model and adjust accordingly. Once
acceptable results have been achieved, make them available to stakeholders
via an app, website, or data dashboard.

Predictive analytics techniques:


In general, there are two types of predictive analytics models:
classification and regression models. Classification models attempt to put
data objects (such as customers or potential outcomes) into one category or
another. For instance, if a retailer has a lot of data on different types of
customers, they may try to predict what types of customers will be receptive
to market emails. Regression models try to predict continuous data, such as
how much revenue that customer will generate during their relationship with
the company.

Predictive analytics tends to be performed with


three main types of techniques:
Regression analysis:

Regression is a statistical analysis technique that estimates


relationships between variables. Regression is useful to determine patterns
in large datasets to determine the correlation between inputs. It is best
employed on continuous data that follows a known distribution. Regression is
often used to determine how one or more independent variables affects
another, such as how a price increase will affect the sale of a product.

Decision trees:

Decision trees are classification models that place data into different
categories based on distinct variables. The method is best used when trying
to understand an individual's decisions. The model looks like a tree, with
each branch representing a potential choice, with the leaf of the branch
representing the result of the decision. Decision trees are typically easy to
understand and work well when a dataset has several missing variables.
Neural networks:

Neural networks are machine learning methods that are useful in


predictive analytics when modeling very complex relationships. Essentially,
they are powerhouse pattern recognition engines. Neural networks are best
used to determine nonlinear relationships in datasets, especially when no
known mathematical formula exists to analyze the data. Neural networks can
be used to validate the results of decision trees and regression models.

Uses and examples of predictive analytics:


Predictive analytics can be used to streamline operations, boost
revenue, and mitigate risk for almost any business or industry, including
banking, retail, utilities, public sector, healthcare, and manufacturing.
Sometimes augmented analytics are used, which uses big data machine
learning. Here are some more use case examples, including data lake
analytics.

Examples of predictive analytics:


Predictive analytics is applicable and valuable to nearly every industry
– from financial services to aerospace. Predictive models are used for
forecasting inventory, managing resources, setting ticket prices, managing
equipment maintenance, developing credit risk models, and much more.
They help companies reduce risks, optimise operations, and increase
revenue.

 Predictive analytics in HR
 Predictive analytics in healthcare
 Predictive analytics in retail
 Predictive analytics in marketing
 Predictive analytics in supply chain

Predictive analysis branch of advanced analysis:


Predictive analytics, a branch of advanced analytics, is the
method or technique of using data to model forecasts about the likelihood of
potential future outcomes in your business.

Conclusion:
A data warehouse is a centralized storage system that allows for the
storing, analyzing, and interpreting of data in order to facilitate better
decision-making. Transactional systems, relational databases, and other
sources provide data into data warehouses on a regular basis.

You might also like