Predictive Analytics and Predictive Modeling
Q1 Essay. 2-4 pages context, excluding headings
Please select one industry from the list and present a use case for applying predictive analytics and predictive modeling.
1. Retail
2. Healthcare
3. Sports
4. Weather
5. Insurance
6. Energy
7. Social Media
8. Financial Services
Guidelines below
I. Use Case: Briefly describe a use case for applying predictive analytics in the industry you have selected form the list above. What predictive analytics strategy works best for this use case? (social network, location-based, text, speech, and facial or visual analyses, for example)
II. Predictive Modeling. Explain how predictive modeling can be used in this case to help determine the optimal outcome for the scenario in the use case. Which predictive modeling technique best fits the use case for predicting favorable outcomes? (linear regression, decision tree, or clustering, for example)
III. Data Mining: Describe one data mining technique that would be useful for collecting the data required to support the model which needs to be developed to predict the most suitable results to the use case (generalization, characterization, pattern matching, data visualization, evolution, or meta rule-guided mining, for example).
Question 2 word document
What is the role of natural language processing in text mining? ( at least 300 words )
Question 3 word document
Please discuss the capabilities and limitations of NLP in the context of text mining. ( at least 300 words )