Encourage Data Literacy and Achieve Results with Assisted Predictive Modeling!
If you want to include predictive analytics and forecasting in your planning process, there are numerous analytical techniques and algorithms at your disposal.
Tag: Assisted Predictive Modeling
Whether we know it or not, we use Natural Language Processing every day. It makes it easier for us to interact with computers and software and allows us to perform complex searches and tasks without the help of a programmer, developer or analyst.
Business markets and competition are moving much more quickly these days and predicting, planning and forecasting is more important than ever. It is also important to ensure that every team member is a real asset to the organization and can contribute their knowledge and skill with full Insight into the effects and outcome of activities and processes and the ability to correct the course and make recommendations using clear, concise information. Advanced analytics is the logical tool to help a business optimize its investments and achieve its goals.
Predictive Analytics Techniques That Are Easy Enough for Business Users!
There are a myriad of predictive analytics techniques and predictive modeling algorithms and you can’t expect your business users to understand and use them. If you are taking on an advanced analytics initiative and you want to leverage data democratization to cascade data analytics and data literacy throughout the organization, you will need a data modeling solution that takes the guesswork out of the process.
As business organizations fight for competitive advantage, funding for projects and large expenditures can fall by the wayside. In today’s competitive business market, every senior executive looks at risk, value and calculations like return on investment (ROI) and total cost of ownership (TCO) before approving a budget.
As the need for advanced analytics increases in organizations, enterprises large and small struggle to find and sustain the professional resources they need to meet their requirements for data, analysis and strategic direction.
Many organizations have grown comfortable with their business intelligence solution, and find it difficult to justify the need for advanced analytics. The advantages of advanced analytics are numerous and those advantages are based on the ability to further improve the business, increase user adoption (and therefore user empowerment and accountability) and, best of all, improve the bottom line and the accuracy of predictions and forecasts that will dictate the success of the business in the future.
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.
Biz Users Get Plug n’ Play Analytics, Data Scientists Get R Integration!
When someone says ‘plug n’ play’, a lot of people think of the idea of plugging in an electrical appliance and having it run instantly. I think plug n’ play analysis should be that simple as well!
Your Business Users Will LOVE Predictive Analytics Tools!
Predictive Analytics used to involve a crystal ball but, today, there are other options and they are more widely accepted in the business community! With the right predictive analytics tool, your business can hypothesize, test theories, discover the effects of a possible price increase, discover and address changing buying behavior and develop appropriate competitive strategies.
