Data preparation for predictive analytics is both an art and a science. Each data set and business objective can be unique with varied data preparation challenges. One should have a clear objective for building a predictive analysis model. There are several objectives such as risk and fraud management, forecast revenue, financial modelling, social media influencers, manage marketing campaigns, operational efficiency and many more, the only thing is we need to choose accordingly. It is very crucial to define the goals based on the objectives.
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