Proving the value of predictive analytics for your organisation
Businesses like yours generally operate in complex and competitive environments. If you’re thinking about predictive analytics it’s likely that you have several different sources of data within your organisation, and that generally means complex internal structures and often departments with competing agendas. Bringing all that together effectively is easier said than done.
For that reason it is critical that you are able to make the case for predictive analytics within your organisation. To that end, we work with you to help you build up empirical evidence which supports the case for predictive analytics. This helps you prove the value of predictive analytics within your organisation – proof of concept like this can be vital in order to get your analytics project off the ground.
The Smart Vision proof of value process
The success of analytics projects often depends on having a structured methodology. We generally use the CRISP-DM methodology (cross-industry standard process for data mining) as it is tried and tested, and really focuses on addressing business issues.
We work with you to establish the main issues facing your organisation and what you hope to get out of a predictive analytics project. During this discovery phase we’ll talk to you and other people in your organisation, and call on examples of what we have done before in other similar situations.
As part of this process we work with you to ensure that each of your business objectives is translated into an analytical equivalent. If we see analytical challenges which are specific to your organisation and we have not tackled before (which happens very occasionally) then we enter that into the risk register for the project and plan contingency approaches with you.
The objective of a Proof of Value (or any other project) is to enable the client to a self sustaining situation.
What can you expect?
- A first phase design of the analytical process with associated, measurable outcomes and benefts
- Actionable results that can be deployed in the business to demonstrate value
- Useable intelligence and data that will support the business case for further investment
The Smart Vision proof of value process gives you the evidence you need to make a compelling business case for investment in predictive analytics. We do this by providing you with real benefits. Doing this minimises the risks, both real and perceived, of rolling out a more substantial project.