What is 'prediction range' in SAP BI-RA-PA - SAP Predictive Analytics?

prediction range - Overview

• Component: BI-RA-PA

• Component Name: SAP Predictive Analytics

• Description: Estimate of an interval in which future observations will fall, with a certain probability, given what has already been observed. The formula used to compute the extreme values of the prediction range are {TargetMean - sqrtTargetVariance; TargetMean + sqrtTargetVariance}.

prediction range - Details

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  Key Concepts: 
  Prediction range is a feature of SAP Predictive Analytics that allows users to create a range of predictions based on their data. This range can be used to identify trends and patterns in the data, as well as to make more accurate predictions. The prediction range is created by using a combination of algorithms and statistical methods to analyze the data. 
  
  How to use it: 
  To use the prediction range feature, users must first select the data they want to analyze. They can then select the algorithms and statistical methods they want to use to create the prediction range. Once the range is created, users can view the results and make adjustments as needed. 
  
  Tips & Tricks: 
  When creating a prediction range, it is important to consider the type of data being analyzed and the algorithms and statistical methods being used. Different types of data may require different algorithms and methods, so it is important to choose the right ones for the job. Additionally, it is important to consider how much data is being used in order to ensure that the results are accurate. 
  
  Related Information: 
  SAP Predictive Analytics also offers other features such as predictive modeling, machine learning, and text analytics. These features can be used in conjunction with the prediction range feature to create more accurate predictions and better understand trends