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Predictive Analytics & Machine Learning


Machine learning and predictive analytics are terms we hear, but what do they mean and how are they related?

Machine Learning and Predictive Analytics

It's a common misconception that predictive analytics and machine learning are the same. While machine learning and predictive analytics can both leverage data to make future predictions, they do so in different ways.

What is machine learning? It is a methodology where algorithms perform a specific task without explicit instructions or predetermined rules, relying on patterns and inference instead to make predictions and recalibrate as needed.

Machine learning is divided into two types of tasks: supervised and unsupervised. In supervised learning, the machine learning model building process is guided by a dedicated response variable. In contrast, unsupervised learning uses all variables equally as it has no dedicated target.

What is predictive analytics? It is a category of data analytics aimed at making predictions about future outcomes based on historical data and analytics techniques. Predictive analytics uses a variety of statistical techniques (including data mining, machine learning, and predictive modeling) to understand future occurrences.

Minitab's Predictive Analytics Solutions

 

Our proprietary, best-in-class machine learning algorithms have the power to provide deeper insights in your data.

CART® (Classification & Regression Trees)

One of the most popular tools in modern data mining, this tree-based algorithm discovers how to split data into smaller segments, then selects the best performing splits repeatedly until an optimal collection is found.

Discover CART

Random Forests®

Based on a collection of CART Trees, this algorithm uses repetition, randomization, sampling, and ensemble learning while simultaneously bringing together independent trees to determine the overall prediction of the forest.

Discover Random Forests

TreeNet® (Gradient Boosting)

Our most flexible, award-winning and powerful machine learning tool is known for its superb and consistent predictive accuracy due to its iterative structure that corrects combined errors of the ensemble as it builds.

Discover TreeNet

Automated Machine Learning

Use this automated tool to easily confirm you're using the best predictive model to answer your question. Perfect for those new to predictive analytics who need recommendations and experts looking for a second opinion.

Discover Automated Machine Learning

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Machine Learning Algorithms at Minitab

Supervised Algorithms

 

Classification:

- Linear Discriminant Analysis (LDA)
- Quadratic Discriminant Analysis (QDA)
- Logistic Regression
- Classification Trees
 

Regression:

- Simple
- Polynomial
- Multiple
- Nonlinear
- Partial Least Squares
- Regression Trees
- Regression with Life Data
- Warranty Prediction

Time Series Methods

Unsupervised Algorithms

 

Clustering:

- Cluster Observations
- Cluster Variables
- Cluster K-means
- Factor Analysis
 

Data Reduction:

- Principal Component Analysis
- Factor Analysis

Additional Tools and Resources

MARS

MARS®

Capture nearly undiscoverable essential nonlinearities and interactions with the machine learning model most similar to traditional regression.

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