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:

  1. Customer so you can figure out lifetime value
  2. Marketing so you can figure out purchasing intent
  3. Websites and applications so you can perform content optimization
  4. Risk so you can figure out fraud and pricing
  5. 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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