The rise of machine learning (ML) and its use in various applications allows businesses to significantly improve their operations. In addition, the use of ML contributes to the development of the business, the reduction of operating costs and the improvement of its services.
To achieve the above, it is necessary to create a custom algorithm (predictive algorithm), which is trained with the data of each company. The algorithm works as an enterprise application and produces a forecast file. During this process, the factors (predictors) that play the most significant correlation in the variable examined by the company are identified (eg churn, up-selling, cross-selling, hardware failure etc.). This information helps those in charge, to make decisions easier and quicker, as well as to make more targeted moves.
Prediction algorithms serve to: