How Can I Leverage Assisted Predictive Modeling to Benefit My Business?
Some people hear the term ‘assisted predictive modeling’ and their eyes cross. They immediately presume that we are talking about something complex and certainly NOT for them. Nothing could be further from the truth. This seemingly complex term actually describes a technique that is designed to be suitable for business users with average technical skills and, with these tools, the average user can enter the age of advanced analytics and make educated, confident business decisions about forecasts and predicted results.
Assisted Predictive Modeling provides the user with auto-suggestions and recommendations so the user can leverage the best analytical technique for a particular type of data. These tools allow the organization to apply Predictive Analytics to any use case using forecasting, regression, clustering and other methods to analyze an infinite number of use cases including customer churn, and planning for and target customers for acquisition, identify cross-sales opportunities, optimize pricing and promotional targets and analyze and predict customer preferences and buying behaviors.
And, there are many benefits to the user and to organization!
- No complex algorithms or data manipulation
- Auto-recommendations for algorithms to explore underlying data without advanced knowledge
- No advanced data science skills required
- Analyze, share and optimize business potential
- Business users can prototype and hypothesize without professional assistance
- Support for day-to-day business decisions
- Insight, perspective and analysis
- Improved agility for business development
- Timely and accurate decision-making
- Emergence of power users and data popularity
- Transformation to citizen data scientists
If you are looking for a way to leverage Advanced Analytics in a self-serve environment and to improve the knowledge and value-add of every team member, assisted predictive modeling tools can help you to achieve a more consistent understanding of targets and goals across the organization and a more fact-based forecasting and planning process.
Explore Assisted Predictive Modeling and find out how it can benefit your organization.
Original Post: Assisted Predictive Modeling Improves Forecasting!