We have been hearing and seeing the term Analytics quite a bit lately in various literature. Predictions and Forecasting are the key outcomes from the application of Analytics. Its about using various mathematical formulas to determine the best decision for a set of problems or issues.
Predictive Analytics removes guesswork out of the decisions, and applies proven scientific methodologies and practices to find the right solution.
Predictive Analytics is totally focused on the ROI.
Many companies are starting to realize that the new world is and won’t be just another typical turn of the business cycle. The new world we live and work in is now shaped by persistent uncertainty, tighter credit, lower consumer spending, greater saving and move government involvement in business. This is now the New Normal.
The use of powerful Predictive Analytics and Business Intelligence technologies, may be the difference maker for successful companies by removing the uncertainty factor. This will allow companies the ability to proactively address potential problems before they become detrimental to the bottom line and create a distinctive competitive capability.
We see the application of Predictive Analytics in all industries and sectors, Manufacturing, Healthcare, Financial Services, Travel, Services etc…
Predictive Analytics are now been used in all businesses and in a host of business processes from various Police departments trying to identify potential crime areas and types of crime, to companies wishing to better understand why and what their customers are buying or why they are leaving them.
Predictive Analytics a Game Changing Opportunity