Real world examples of predictive analytics
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Putting analysis into action for visible results
The successful predictive analytics projects enable you to use your data to draw reliable conclusions about current conditions and future events, which you can then use in order to take effective action within your organisation. You may well have read case studies that present high ROI predictive analytics projects but may still be struggling to see how you might be able to apply the same techniques in operational areas of your own business.
This white paper presents a number of typical, real world examples of predictive analytics and shows how it can be used to address key business issues, with the aim of illustrating practical ways in which analytical capabilities can be deployed in a range of different organisations. It also presents an overview of the operational systems needed to support effective predictive analytics projects and shows you how predictive analytics can help you deliver business value across many different areas of your business.
Specifically the focus is on developing a clearer understanding of how predictive analytics can be used in five key areas of business.
- To attract more (and better) customers
- To grow the value of existing customers, through cross-selling or up-selling products or services
- To retain the most valuable customers
- To manage and mitigate the risk inherent in transacting with customers
- To detect and prevent fraud