What is detected profit in SAP BI-RA-PA - SAP Predictive Analytics?

SAP Term: detected profit

• Component: BI-RA-PA

• Component Name: SAP Predictive Analytics

• Description: Profit type that allows you to examine the percentage of observations belonging to the target category of the target variable. This means the least frequent category, as a function of the proportion of observations selected from the entire data set.

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• Key Concepts: 
  Detected profit is a term used in SAP Predictive Analytics to refer to the amount of profit that can be predicted from a given set of data. It is calculated by taking into account the cost of goods sold, the cost of services, and other factors such as taxes and discounts. The detected profit is then used to make decisions about how to best use the data to maximize profits.
  
  How to use it: 
  In order to use detected profit in SAP Predictive Analytics, you must first collect and analyze the relevant data. This includes sales data, cost of goods sold, cost of services, taxes, discounts, and other factors. Once the data has been collected and analyzed, you can then use the detected profit to make decisions about how to best use the data to maximize profits.
  
  Tips & Tricks: 
  When using detected profit in SAP Predictive Analytics, it is important to remember that it is only an estimate of potential profits. Therefore, it is important to consider other factors such as customer satisfaction and market trends when making decisions about how to best use the data. Additionally, it is important to keep in mind that detected profit can be affected by changes in the market or other external factors.
  
  Related Information: 
  SAP Predictive Analytics also offers other features such as predictive modeling and machine learning algorithms that can be used to further analyze data and make more accurate predictions about potential profits. Additionally, SAP Predictive Analytics can be used in conjunction with other SAP products such as SAP Business Intelligence (BI) and SAP HANA for more comprehensive analysis and decision-making.