What is predictive model in SAP CEC-MKT-ML-PRE - Predictive Studio?

SAP Term: predictive model

• Component: CEC-MKT-ML-PRE

• Component Name: Predictive Studio

• Description: The specification of a predictive scenario including the training set, the target object, and the target variable.

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• Key Concepts: 
  Predictive models are algorithms used to predict future outcomes based on past data. Predictive models are used in a variety of industries, including marketing, finance, and healthcare. The CEC-MKT-ML-PRE Predictive Studio is a predictive modeling tool from SAP that enables users to create and deploy predictive models quickly and easily. 
  
  How to use it: 
  The CEC-MKT-ML-PRE Predictive Studio provides users with a graphical user interface (GUI) that allows them to create and deploy predictive models without having to write code. The GUI includes a library of pre-built models that can be used as a starting point for creating custom models. The GUI also provides tools for data exploration, model selection, and model evaluation. 
  
  Tips & Tricks: 
  When using the CEC-MKT-ML-PRE Predictive Studio, it is important to understand the data that is being used to create the model. It is also important to understand the different types of predictive models and how they can be used in different scenarios. Additionally, it is important to evaluate the performance of the model before deploying it in production. 
  
  Related Information: 
  For more information about predictive modeling and the CEC-MKT-ML-PRE Predictive Studio, please refer to SAP's documentation on predictive modeling and machine learning. Additionally, there are many online resources available that provide tutorials and best practices for using predictive models.