Deakin University - Predictive Modelling in Business and Economics 

For individuals with an economics foundation and those eager to explore predictive modeling without prior economic knowledge

You’ll learn how to identify and evaluate optimal predictive models to improve your economic and business decision-making and achieve your organisation’s outcomes

You’ll understand why it is important to prepare data for predictive modelling in economics

You’ll also explore what could potentially go wrong with predictive modelling to understand how to overcome these challenges within your organisation

You’ll delve into decision trees to help you aid group discussions and explore every potential output for a specific input

Predictive modeling in business and economics involves using statistical and machine learning techniques to analyze historical data and make forecasts about future trends and outcomes

This approach helps organizations anticipate changes in the market, consumer behavior, and economic conditions, enabling them to make more informed decisions

By identifying patterns and relationships in data, predictive models can estimate the potential impact of various factors on business performance, such as sales, customer churn, or economic growth

These models are essential for strategic planning, risk management, and optimizing operations, providing businesses and policymakers with actionable insights to drive growth and efficiency