Predictive Analytics & Machine Learning
Machine learning and predictive analytics are terms we hear, but what do they mean and how are they related?
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 important and popular tools in modern data mining, CART is a tree-based algorithm that discovers ways to split data into smaller segments, then selects the best performing splits recursively until an optimal collection is found.
Discover CART
Note: The latest version of Minitab Statistical Software automatically includes 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 ForestsTreeNet® (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 LearningMachine 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 Predictive Analytics Tools and Resources
Minitab's Predictive Analytics Module is just part of what we have to offer around predictive analytics and machine learning.
MARS
MARS® Capture nearly undiscoverable essential nonlinearities and interactions with the machine learning model most similar to traditional regression.
Feature Engineering
Better your predictive analytics and machine learning models with feature engineering, the way to process and prepare your data before you begin.
The Minitab Blog
Access best practices, success stories, real-life examples, and how-to advice as you enter the world of machine learning and predictive analytics.
