Predictive Analytics: Five Ideas for Business
October 13, 2015
A mid tier consulting firm is expressing its reservations about analytics used incorrectly. But the cheerleading for fancy math is tough to ignore. I read “5 Ways Just about Anyone Should Be Leveraging Predictive Analytics.” I quite like the parental “should” too.
What are the ways? Let me count them:
- Customer so you can figure out lifetime value
- Marketing so you can figure out purchasing intent
- Websites and applications so you can perform content optimization
- Risk so you can figure out fraud and pricing
- Operations so you can do network optimization.
Predictive analytics appears to be applicable to many different corporate tasks. The write up omits just one minor point: How.
Why should those with an interest in marketing get involved in the type of detail required to make a predictive system useful. Next up? An international conference on how to make predictive analytics really easy.
Stephen E Arnold, October 13, 2015
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