Chapter 17 Prediction
Prediction is a key goal of modeling, but also the goal of learning.
We aim to develop predictive algorithms/models that solve different predictive tasks: A predictive algorithm provides a rule that either (a) classifies an entity, or (b) predicts a value on some scale.
A key component of any predictive enterprise consists in evaluating predictive performance.
Recommended background readings for this chapter include:
- What is the purpose of science?
- What is the difference between explanation and prediction?
- What is less/more difficult and less/more useful?
- What would we like to predict?