Forecasting is the process of making prediction of the future based on past and present data.
In many cases…Continue
Developed at MIT’s Sloan School of Management in 1950s system dynamics is a methodological approach to model the behavior of complex systems, where change in one component leads to change in others (like the dominos effect with feedback loops added). This approach is widely applied in industries such as healthcare, disease research, public transportation, business management and revenue forecasting. The most famous application of system dynamics probably is in…Continue
Added by Mab Alam on April 23, 2018 at 5:30pm — No Comments
We are dealing with plethora of data and information in the world today and expectation is to predict and forecast how we can gain competitive advantage based on the information that we have, to act in advance. We look forward to define and furnish various methods based on our gut feel, past historical data, simple mathematical averages, and many more to get an incredibly precise prediction. With advanced analytics and data science, we develop “always-on” forecasting…
Whether you love it or hate it, predictive analytics has already helped elect presidents, discover new energy sources, score consumer credit, assess health risks, detect fraud and target prospective buyers.
Predictive analytics is business intelligence technology that produces a predictive…Continue
Added by Anuj Tripathi on February 18, 2016 at 12:00am — No Comments
This article describes the approach undertaken by data scientists at Axibase to calculate the Cloud Cover using satellite imagery from the Japanese Himawari 8 satellite.
Today, cloud cover is measured using automated weather stations, specifically the ceilometer and the sky imager instruments. The ceilometer is an upward pointed laser that calculates the time required for the laser to reflect from the clouds, determining the height of the cloud base.…Continue
Added by Axibase Corp on October 20, 2015 at 6:21am — No Comments
Leonard Baum and Lloyd Welch designed a probabilistic modelling algorithm to detect patterns in Hidden Markov Processes. They built upon the theory of probabilistic functions of a …Continue
One important goal of data science is to help decision makers make better decisions. Markov…Continue