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When developing a predictive model, the outcome value of a continuous model type can represent the purchase value of an offer.

To predict if a customer is likely to churn, you use a model of type decision tree. A decision tree is a type of predictive model that uses a set of rules to classify customers into different categories based on their attributes and behavior. A decision tree can predict a binary outcome (such as churn or not churn) or a multi-class outcome (such as low risk, medium risk, or high risk). References: https://academy.pega.com/module/predictive-analytics/topic/using-decision-tree-models

The use of an imported third-party model in a decision strategy is similar to the use of a model built with Pega machine learning. You can use a predictive model component in a decision strategy to reference an imported third-party model and pass the input parameters and receive the output score. You do not need to convert the third-party model into a Pega machine learning model or Pega markup language. References: https://community.pega.com/sites/default/files/help_v82/procomhelpmain.htm#rule-/rule-decision-/rule-decision-predictivemodel/main.htm

An adaptive model instance is created when you execute a strategy containing the adaptive model component. The adaptive model component references an adaptive model rule that defines the predictors and the outcome of the model. The adaptive model instance stores the data and the statistics of the model for a specific context and action. References: https://community.pega.com/sites/default/files/help_v82/procomhelpmain.htm#rule-/rule-decision-/rule-decision-adaptivemodel/main.htm

An adaptive model is different from a predictive model as it can use strategy properties as predictors. Strategy properties are dynamic values that are calculated or derived during the execution of a decision strategy. They can capture customer context, such as channel, location, time, etc. References: https://academy.pega.com/module/predicting-customer-behavior-using-real-time-data-archived/topic/adaptive-models-overview

In a decision strategy, the Adaptive Model decision component belongs to the Decision Analytics category. This category contains components that use advanced analytics techniques, such as adaptive models, predictive models, text analytics models, etc., to make predictions or recommendations. References: https://academy.pega.com/module/creating-and-understanding-decision-strategies-archived/topic/decision-analytics-components

A predictive model is a mathematical function that estimates the probability of an outcome based on input data. When building a predictive model, the use of testing and validation samples increases the accuracy of models123. Testing and validation samples are subsets of data that are used to evaluate how well a model performs on new data that was not used to train the model. Testing and validation samples help prevent overfitting, which is when a model learns too much from the training data and fails to generalize to new data.

Predictive models need historical data to be created. Predictive models are statistical models that use historical data to learn patterns and trends and make predictions for future outcomes. Predictive models can be built with Pega machine learning or imported from third-party tools such as PMML or H2O. References: https://community.pega.com/sites/default/files/help_v82/procomhelpmain.htm#rule-/rule-decision-/rule-decision-predictivemodel/main.htm

Predictive analytics is a branch of data science that uses statistical techniques and machine learning algorithms to find repeatable patterns in data and make predictions about future outcomes or behaviors. References: https://academy.pega.com/module/predictive-analytics/topic/predictive-analytics-overview