What is predictive model in SAP BI-RA-PA - SAP Predictive Analytics?

SAP Term: predictive model

• Component: BI-RA-PA

• Component Name: SAP Predictive Analytics

• Description: A reusable mathematical description created by training an algorithm using historical data. It describes and explains the relationships between input data explanatory variables and output data one or more target variables. It allows you to predict, explain, or describe phenomena.

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• Key Concepts: 
  A predictive model is a mathematical model used to predict future outcomes based on past data. In the context of SAP Predictive Analytics, predictive models are used to analyze large amounts of data and identify patterns that can be used to make predictions about future events. 
  
  How to use it: 
  SAP Predictive Analytics provides a suite of tools for creating and deploying predictive models. These tools include data mining, machine learning, and statistical analysis. The software also provides a graphical user interface for creating and managing predictive models. 
  
  Tips & Tricks: 
  When creating a predictive model, it is important to consider the data sources that will be used. It is also important to consider the accuracy of the model and how it will be used in practice. Additionally, it is important to consider the cost of deploying the model and any potential risks associated with its use. 
  
  Related Information: 
  SAP Predictive Analytics also provides a range of other features such as automated machine learning, natural language processing, and text analytics. Additionally, SAP Predictive Analytics can be integrated with other SAP products such as SAP HANA and SAP BusinessObjects.