What is residuals in SAP BI-RA-PA - SAP Predictive Analytics?

SAP Term: residuals

• Component: BI-RA-PA

• Component Name: SAP Predictive Analytics

• Description: What is left when the trend, the cycles, and the fluctuation have been extracted from the signal. It is called white noise and made of random elements that cannot be modeled.

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• Key Concepts: 
  Residuals are the differences between the predicted values and the actual values in a predictive analytics model. They are used to measure the accuracy of the model and to identify any outliers or errors in the data.
  
  How to use it: 
  In SAP Predictive Analytics, residuals can be used to evaluate the accuracy of a predictive model. The residuals are calculated by subtracting the predicted values from the actual values. The residuals can then be plotted on a graph to visualize any outliers or errors in the data.
  
  Tips & Tricks: 
  When evaluating a predictive model, it is important to look at both the residuals and the accuracy of the model. If there are any outliers or errors in the data, they should be addressed before using the model for predictions.
  
  Related Information: 
  For more information on residuals and how to use them in SAP Predictive Analytics, please refer to SAP's documentation on predictive analytics.