Prediction System

A Prediction System is a decision system that can solve a prediction task (by implementing a prediction algorithm).

• Context:
  • It can range from being a Heuristic Prediction System to being a Data-Driven Prediction System (such as a supervised prediction system).
  • It can be created by a Prediction System Creation Task, which might involve a Model Training Phase.
  • It can be evaluated by a Prediction System Evaluation Task (and a prediction system performance measure).
  • ...
• Example(s):
  • a Classification System.
  • a Forecasting System.
  • an Estimation System.
  • a Data-Driven Link Prediction System.
  • a Predictive Ranking System, such as a recommender system.
  • …
• Counter-Example(s):
  • an Association Mining System.
  • a Clustering System.
• See: Prediction Event, Item Recommendation System, Credit Scoring System.

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References

2018

• (Agrawal, Gans and Goldfarb, 2018) ⇒ Ajay Agrawal, Joshua Gans, and Avi Goldfarb. (2018). “Prediction Machines: The Simple Economics of Artificial Intelligence.” Harvard Business Press.

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