There has been growing interest in the value and the application of “big data” in recent years. To meet this interest, a workshop was held to discuss the possibility and the future of prediction analysis, which is the next big step in data mining after big data.
On February 25 in COEX, Seoul, the Department of Knowledge Service Engineering at KAIST held the 4th knowledge service workshop on “Techniques in Prediction Analysis for the Industry.”
Predication analysis is a technique that can predict the future based on the understanding of the past and the present through analyzing “big data.” If “big data” is fuel in figurative sense, the prediction analysis serves as the engine.
The Department seeks to help those companies interested in data mining by introducing fundamentals and some application examples to the executives of companies who are interested in implementation of the technique.
The lecture was delivered by six professors from the Department of Knowledge Service Engineering and the Department of Industrial and Systems Engineering at KAIST.
Thomas Miller, the author of Modeling Techniques in Predictive Analytics, covered the contents of his book at the event. Professor Moon-Yong Yi, Chair of the Department of Knowledge Service Engineering, said, “This conference will be important to companies that are considering the implementation of the prediction analysis as well as to students who are interested in the field.”
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