Go beyond learning what happened and why ..to discovering insights about the future
Predictive analytics encompasses a variety of statistical techniques from predictive modelling, machine learning, and data mining that analyse current and historical facts to make predictions about the future .
Predictive models exploit patterns found in historical and transactional data to identify risks and opportunities. It provides a predictive score (probability) for each individual (customer, employee, healthcare patient, product SKU, vehicle, component, machine, or other organisational unit) in order to inform decisions / business processes across large numbers of individuals, such as in marketing, credit risk assessment, fraud detection, manufacturing, healthcare, and government operations.
Organisation’s today are recognising that it is essential to be an innovator in order to increase value.