How Much Data Do I Need For Predictive Analytics?

Before beginning any predictive analytics project, its essential to investigate the breadth and depth of data available. However, at what point is it acceptable to say you have enough data to start?
The politically correct answer to this question is that it depends. Depends on what though?
Well for starters, certain types of data science and predictive analysis projects require more specific data requirements. In an extreme case, predicting survival rates of people or machines may require data spanning their entire lifespan. However, in most cases, data requirements are less stringent.
In most cases taking a snapshot of 3 to 5 years worth of data can yield a breadth of patterns surrounding consumer and business behavior. Why? (more…)

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