Why Predictive Analytics
Reasons you really need Predictive Analytics
1. Get a higher return on your data investment.
Your organization has a significant investment in data, data that contains critical information about every aspect of your business and your customers whether you operate in a B2B or B2C environment. Today more than ever, you need to get the best return on the data you have collected – and predictive analytics is the most effective way to do this.
Predictive Analytics combines information on what has happened in the past, what is happening now, and what is likely to happen in the future to give you a complete picture of your business.
2. Find hidden meaning in your data
Predictive Analytics helps you maximize the understanding gained from your data and gain new insights that will allow you to make fact based decisions. It enables you to uncover hidden patterns, trends, and relationships and transform this information into action. More importantly by operationalizing these results you can see in near real time the impact of actions and recalibrate models if necessary.
3. Look forward, not backward
Unlike reporting and business intelligence solutions that are only valuable for understanding past and current conditions, predictive analytics helps organizations look forward. By leveraging sophisticated statistical modeling techniques, you can use the data you already have to help you anticipate future events and be proactive, rather than reactive.
4. Deliver intelligence in real time
Your business is dynamic. With Predictive Analytics solutions, you can automatically deploy analytical results to both individuals and operational systems as changes occur, helping to guide customer interactions and strategic and tactical decision making.
5. See your assumptions in action
Advanced analytical methods give you the tools to develop hypotheses about your organization’s toughest challenges and test them by creating predictive models. You can then choose the scenario that is likely to result in the best outcome for your organization.
6. Empower data-driven decision making
Better processes help people throughout the organization make better decisions every day. Predictive Analytics enables your organization to automate the flow of information to match your business practices and deliver the insights gained through this technology to people who can apply them in their daily work.
7. Build customer intimacy
When you know each of your customers intimately – including what they think, say, do – you can build stronger relationships with them? Predictive Analytics gives you a complete view of your customers, and enables you to capture and maximize the value of each and every interaction.
8. Guarantee your organization’s competitive advantage
Predictive Analytics can drive improved performance in every operational area, including customer relations, supply chain, financial performance and cost management, research and product development and strategic planning. When your organization runs more effectively and profitably, you have what it takes to out-think your competitions and out-perform your competitors.