I have been pleasantly surprised about the new startups which have emerged on predictive analytics This year, i would be covering a wide range of predictive analytical tools and its usage techniques. We no longer need PHDs to understand statistics and to start using predictive models. We have to know how to use the tools and need not know anything about how the models work. As the world is moving towards more abstraction, it is only a matter of time before such powerful tools are used by business analysts..
One such tool i recently learnt about is BigML. I believe BigML have created the first step in making predictive analytical tool user friendly and to produce results in minutes.
The tool is currently limited to tree visualization and is based on how decision trees work to gain insights into predictive models. But it has huge potential in delivering fast and accessible models.
Its a 4 step process in getting to the insights
1. Setting up Data Source
2. Creating the data set
3. Create Models
4. Generate Predictions
You can also play around with the interactive models in the gallery section of the site.
