Real-Time Prediction

Real-time prediction refers to the process of predicting an outcome or result in the present moment, rather than using historical data to make predictions about the future. Real-time prediction can be useful in a variety of situations, such as predicting traffic patterns to optimize transportation routes, forecasting demand for products or services to adjust inventory levels, or detecting fraudulent activity in real-time to prevent it from occurring.

There are several approaches to real-time prediction, depending on the type of data being used and the desired outcome. Some common methods include:

1. Statistical models: These models use statistical techniques, such as regression analysis or time series forecasting, to make predictions based on past data.
2. Machine learning models: These models use algorithms to learn patterns in data and make predictions based on those patterns.
3. Neural networks: These models use a set of interconnected nodes, similar to the structure of the human brain, to analyze data and make predictions.

What does Prediction mean in Machine Learning?

After successfully building a Machine Learning/Deep Learning/Time series model, the primary question arises,?How to use the model in real-time?

Well, we perform predictions on the built model. “Prediction” refers to the output of an algorithm after it has been trained on a historical dataset and applied to new data when forecasting the likelihood of a particular outcome, such as whether or not a customer will churn in 30 days.

The word "Prediction" itself can be quite misleading. Most of the time we would not be trying to predict the future outcome but to see the outcome of the inputs that are unseen during the model training process. For example, whether or not an already occurred transaction is a fraudulent transaction or not.

In our platform, we bring in the concept of APIs to perform predictions on a model.

How to set up real-time predictions on our platform?

1. Give Project Name- The title of the project
2. Project Type- The type of the project which distinguishes the project between AI, Discovery Projects, and Smart Model
3. Status?Tells if the project is Online or Offline

• Online indicates that an API has been created already for the project and the API is up and running.
• Offline indicates that no API has been created for the project

4. Port?Tells on which port the API is hosted.

5. Actions?The Actions column provides the users with three options

• Create API?button creates and reserves a new port for the project
• Use API?button to spin up the API in the reserved port
• The delete API?button deletes the reserved port. A new port can be created using the?Create API?button if needed.

Check out our website:?

Check out our features on:?