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GlossarySeveral terms are used when discussing the business of predictive analytics. Below are some common terms you will come across and definitions from Valen's perspective. You can access a full glossary of insurance terminology at www.iii.org/media/glossary
Business IntelligenceBusiness intelligence is a broad category of applications and technologies for gathering, providing access to and analyzing data to help users make better business decisions. Data Mining and AnalysisData mining & analysis is the science of extracting and exploring useful information from large data sets or databases. Predictive AnalyticsPredictive analytics is the area of business intelligence and data mining focused on forecasting probabilities and trends. Predictive ModelingPredictive modeling is a process used in predictive analytics to create a statistical model of future behavior. You can access a full glossary of insurance terminology at: http://www.iii.org/media/glossary/ |
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