Predictive Analytics in Business Analytics: Decision Tree

Abstract

Purpose: Business Analytics was defined as one of the most important aspects of combinations of skills, technologies and practices which scrutinize a corporation's data and performance to transpire data-driven decision-making analytics for a corporation's future direction and investment plans.In this paper, much of the focus will be given to predictive analytics, which is a branch of business analytics that scrutinize the application of input data, statistical combinations and intelligence machine learning statistics on predicting the plausibility of a particular event happening, forecast future trends or outcomes utilizing on-hand data with the final objective of improving the performance of the corporation.While it has been around for decades, predictive analytics has gained much attention in the late 20th century.This technique includes data mining and big data analytics.Last but not least, the decision tree methodology, a supervised simple classification tool for predictive analytics, is fully scrutinized below for applying predictive business analytics and decision tree in business applications. Design/ Methodology/Approach:A systematic literature review was conducted in predictive analytics and decision tree.The literature review explains various fields' latest predictive analytics and decision trees.All the research papers are obtained from two databases: Web of Science and Scopus, which are widely acknowledged by the scientific and research communities that contain top-quality peer-reviewed journals.Findings: This study reviews the application of predictive analytics and decision tree in business decision-making across various fields.Practical implications: This paper will strongly contribute to providing significant inputs to analysts or researchers in business analytics, predictive analytics and decision tree as it presents recent evidence of the applications of various fields.This review will be in the interest of academics and practitioners in business analytics, especially predictive analytics.

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