Predictive Analytics will help your organisation reveal and predict trends, anticipate business change, and drive moire emprirical strategic decision making with using a range of predictive analysis software.
Predictive analytics can be used to describe any approach to data mining with five attributes:
- Prediction (rather than description, classification or clustering),
- Agile and rapid analysis measured in hours or days
- Highly business relevant e.g. why did we sell x many widgets in New York (no complex ivory tower analyses)
- Easy to use
- Highly visual analytical results (no complex tables / data)
In our experience the way to suceed with Predictive Analysis is to Empower a C-Level Predictive Analytics Champion. Recently we have worked with a large retail organisation with a CFO who was hugely keen on predictive analysis to help drive business growth and spot new market opportunties.