Predictive Analytics - Process and Development of Predictive Models

This master's degree thesis focuses on predictive analytics. This type of analysis uses historical data and predictive models to predict future phenomenon. The main goal of this thesis is to describe predictive analytics and its process from theoretical as well as practical point of view. Secondary goal is to implement project of predictive analytics in an important insurance company operating in the Czech market and to improve the current state of detection of fraudulent insurance claims. Thesis is divided into theoretical and practical part. The process of predictive analytics and selected types of predictive models are described in the theoretical part of the thesis. Practical part describes the implementation of predictive analytics in a company. First described are techniques of data organization used in datamart development. Predictive models are then implemented based on the data from the prepared datamart. Thesis includes examples and problems with their solutions. The main contribution of this thesis is the detailed description of the project implementation. The field of the predictive analytics is better understandable thanks to the level of detail. Another contribution of successfully implemented predictive analytics is the improvement of the detection of fraudulent insurance claims.