From two churn models with the similar performance, we chose the one the_____
Answer(s): D
The principle of parsimony states that from two models with similar performance, we choose the one with the fewest number of predictors. This is because a simpler model is easier to understand, maintain, and deploy.
https://academy.pega.com/module/predictive- analytics/topic/evaluating-predictive-models
Acquiring new customers can be more costly than retaining active customers. U+ Bank uses Pega Customer Decision Hub for its customer engagement and wants to reduce the churn rate by identifying high churn risk customers and making them a retention offer. To meet this requirement, which two artifacts created by a data scientist allow the NBA specialist to implement the decision strategy? (Choose Two)
Answer(s): B,C
According to the Data Scientist Student Guide1, page 18, the correct answer is B. A predictive model and C. A control group. A predictive model is a mathematical representation of a real-world process that can be used to predict an outcome based on input data. A control group is a subset of customers who are not exposed to a treatment (such as an offer) and are used to measure the effectiveness of the treatment by comparing their behavior with the treated group.
A legal firm wants to use text analytics for easier and faster access to information to helo with compliance related issues. The legal firm needs a taxonomy of legal concepts.What is a taxonomy?
A taxonomy is a list of valid categories that can be used to classify text documents or entities. A taxonomy can be hierarchical or flat, depending on the level of detail required.
https://academy.pega.com/module/text-analytics/topic/creating-taxonomy
The likelihood that an action will be accepted by the customer is stored in the Strategy property called_______
The pyPropensity property stores the likelihood that an action will be accepted by the customer. It is calculated by a predictive model or an adaptive model and used in decision strategies to prioritize actions.
https://academy.pega.com/module/creating-and-understanding-decision- strategies-archived/topic/using-predictions-decision
When you build a decision strategy, what property do you use to access the output of a prediction that is driven by a predictive model markup language (PMML) model?
Answer(s): B
The pxResult property is used to access the output of a prediction that is driven by a PMML model. It contains the predicted value or class for each record in the input data set.
https://academy.pega.com/module/predictive-analytics/topic/using-pmml-models
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