Predictive analytics – an introduction

In this section of the site we aim to give you information about some of the many applications of predictive analytics and to provide advice on how best to get started with predictive analytics in your organisation. The way that your organisation adopts predictive analytical technology can be adapted to match the specific needs and structure of your business but our experience over many years of work in this area tells us that there are certain elements which need to be in place in order for a predictive analytics project to be successful.

To be successful over the long term though you will need to focus on three areas:

1. Prepare the organisational culture

  • Make sure you understand the curent situation
  • Establish meaningful benchmarks of where you are today
  • Have an evangelist who can support the development of an analytical culture 

2. Choose the right technology

  • Ensure that your technology platform can support your requirements now and in the future
  • Make sure the technology is you select is open and that it can be integrated with other internal systems
  • Ensure that the end user intefaces use are suitable for your intended audience

3. Implement and revise

  • Make sure you have established and agreed how you plan to evaluate return on investment
  • Don't forget to compare results against those originally agreed benchmarks
  • Revisit areas that have presented a challenge or where results have not been as anticipated (both positive and negative)

Have a look at some of the other pages in this section for more information about predictive analytics applications and get in touch with us if you'd like to talk more about how predictive analytics could be benefiting your own organisation. You can use the contact box to the right, or link with us via social media (just click on any of the icons on the top right of this page), or email info@sv-europe.com