How Can My Business Use Assisted Predictive Modeling to Optimize Resources?
There was a time, not so long ago, when predictive analysis, business forecasting and planning for results involved guesswork and lots of unscientific review of historical data. But, today’s competitive business landscape and rapidly moving markets demand more than guesswork.
As businesses attempt to keep pace, it has become clear that data scientists and other analytical professionals are an expensive and overworked resource in the effort to accurately predict and forecast results. If you are fortunate enough to have such a staff, these professionals are probably up to their ears in critical strategic analysis.
If your business is to thrive, you must optimize all resources and knowledge at every level within the organization. Those with industry, functional or business skills must have predictive analytics for business users so that they can combine their divisional, department and group knowledge with predictive analysis tools. By providing Assisted Predictive Modeling tools to business users, the organization can allow for day-to-day planning, problem solving, and testing of hypotheses and theories to avoid missteps and allow for the sharing of data and analysis across the enterprise.
With the sophisticated, easy-to-use Predictive Analytics Tools on the market today, there is no reason that business users should not be part of the results equation! Every team member can use apply predictive analytics to any use case using forecasting, regression, clustering and other methods to analyze an infinite number of use cases including customer churn, and planning for and target customers for acquisition, identify cross-sales opportunities, optimize pricing and promotional targets and analyze and predict customer preferences and buying behaviors.