Share, , Google Plus, Pinterest,

Print

Posted in:

Predictive Analytics For Business Users

The value of data is driven by the expression of its context. Using machine learning to drive better context increases the value of and leverages the data organizations are creating and aggregating today.

The state of deployment for SMB is minimal due to the complexity of using predictive analytics. The future is promising as new solutions now embrace the concepts of “approachable analytics”

John Ryan, ORM Technologies

Predictive Analytics driven sales forecasting is quickly becoming the next competitive accelerator for organizations. Some of the fastest growing companies have already adopted AI-powered sales insights.

Analytics tools have become easy to use and inexpensive. Coupled with advances in Big Data, we are seeing the business user now doing work that previously required a data scientist.

Reliable data will become a key enabler in using predictive analytics and machine learning for informed business decisions with next best actions, recommendations for product design and customer engagement.

Recently, we saw the rapid growth of predictive analytics applications in every vertical from retail to healthcare. With the advent of the Internet of Things, businesses will be able to capture data from all types of interactions and predict even more outcomes.

Predictive comes in a variety of flavors. Today, tech-savvy companies can distinguish between bolt-on predictive analytics to solutions with PA baked in – only the latter are true game changers for businesses.

Predictive analytics is no longer just about the demographic and general interests of consumers anymore. It’s about capturing specific mindset and intention shifts in real-time.

Today, predictive analytics helps people make better decisions. In the future, predictive analytics will be embedded in customer-facing products and software, automating decision making at industrial scale.

Predictive Analytics is being driven by advances in fuzzy logic, artificial neural networks, and python programming automation. Business leaders are seeking PA as the next form of Quantitative Business Analysis.