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Machine Learning vs Predictive Analytics - the data science in insurance

Machine learning and predictive analytics both employ various approaches to problem-solving. Since machine learning is a technology that improves in intelligence over time, it serves as the face of artificial intelligence. Algorithms that are fed data and permitted to handle it on their own are the foundation of machine learning. It is independent useable. ML models develop, test, and build their own hypotheses without any scripting.

Machine learning is one tool in the arsenal of predictive analytics, along with data mining and predictive modelling. In order to predict future results, it uses both historical and contemporary data. What client behaviours, for example, are most likely to appear in specific circumstances or even potential changes in the company.

Source URL: - https://www.simplesolve.com/blog/predictive-analytics-in-insurance

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