Complete SAS Programming Guide - Learn SAS and Become a Data Ninja - Business Applications of Predictive Modeling

The video discusses the applications of predictive modeling within business analytics, highlighting its use in various industries such as banking, retail, medical, and social networks. It covers specific applications like credit scoring, fraud detection, and recommendation engines. The video also touches on the challenges faced in implementing predictive modeling in business contexts.

What is predictive modeling a part of in the business context?

• Human resources

• Financial analysis

• Market research

• Business analytics

Which of the following is NOT an application of predictive modeling in the banking industry?

• Credit scoring

• Fraud detection

• Patient health prediction

• Price optimization

In the retail industry, predictive modeling is used for:

• Inventory management

• Cross selling and upselling

• Customer service

• Employee training

How do social networks like Facebook use predictive modeling?

• To improve user interface design

• To suggest friends and recommend ads

• To enhance data security

• To develop new features

What is a potential reason why not all businesses use predictive modeling?

• Lack of data

• High cost

• Limited applications

• Analytics challenges