Predictive Analytics Use Cases: Envision Success with Comprehensive Planning and Forecasting!

Predictive Analytics Use Cases: Envision Success with Comprehensive Planning and Forecasting!
When it comes to using Predictive Analytics and a self-serve augmented analytics environment, businesses often want to sell the management team on these tools by suggesting real-world use cases that reflect the needs of the organization and illustrate how advanced analytics can help business users and the organization at large with accurate, efficient insight into the planning and forecasting process, and the ability to identify trends and patterns, understand target custom buying behavior, predict fraud and loan default, combine internal and external data analytics, manage quality, improve demand planning and marketing processes and manage human resource attrition.
###Details >
 

Predictive Analytics Use Case: Online Target Marketing!

Predictive Analytics Use Case: Online Target Marketing!
To make the most out of online marketing, every organization must target the customers with the most promising profile. Businesses must understand what makes customers click on an ad, and what will compel them to make a purchase. Who is most likely to purchase your product or service? Where do they live, how old are they, how many children do they have (if any), what is their annual income, and what interest or driving force is the best fit for what you have to offer?
###Details >
 

Predictive Analytics Use Case: Predictive Analytics Using External Data!

Predictive Analytics Use Case: Predictive Analytics Using External Data!
There is a lot of information within your enterprise, and being able to analyze that information is crucial to decision-making and to managing your business and predicting results with efficiency and accuracy. But, when it comes to information, the average business may have quite a bit of data within its walls but, it often falls short of painting a complete picture because the data it needs is not maintained within its internal systems.
###Details >
 

Predictive Analytics Use Case: Marketing Optimization!

Predictive Analytics Use Case: Marketing Optimization!
Using marketing and advertising dollars to target the general market is not a wise use of funding. Every business today is challenged to do more with less and marketing budgets are no exception. In order to reach the right target and convert prospects into sales, a business must create and distribute messaging to the right target audience, in the right way, at the right tie.
###Details >
 

Predictive Analytics Use Case: Loan Approval!

Predictive Analytics Use Case: Loan Approval!
Perhaps the greatest risk to a lending organization is that presented by loan applicants who are unprepared to fulfill the long-term obligation of paying off a loan. Banks and other lenders spend a lot of time and energy trying to identify the perfect profile for a borrower so they can make the right decision and avoid costly loan defaults and the expense and resources required to take legal action.
###Details >
 

Predictive Analytics Use Case: Human Resource Attrition!

Predictive Analytics Use Case: Human Resource Attrition!
You probably know how much it costs to recruit and hire a team member but, do you know how long that team member is likely to stay in your employ and what factors will cause them to stay with the company or seek greener pastures? If you can’t anticipate the need for resources, you are likely to be short-handed at the wrong time, or to experience frequent turnover that will significantly impact your business success and your ability to get the job done.
###Details >
 

Predictive Analytics Use Case: Customer Targeting!

Predictive Analytics Use Case: Customer Targeting!
Even with an unlimited budget, it would not be a wise decision for a business to target every customer in the market. If an enterprise is to succeed, it must understand its products and services and it must know the profile of the customer it is targeting.
###Details >
 

Predictive Analytics Use Case: Maintenance Management!

Predictive Analytics Use Case: Maintenance Management!
Businesses do not want to be surprised by downtime, equipment failure or the cost of unanticipated equipment replacement. If the enterprise can anticipate the need for equipment maintenance and downtime, it can plan more effectively for product output, resource requirements and expenses.
###Details >
 

Predictive Analytics Use Case: Product and Service Cross-Selling and Upselling!

Predictive Analytics Use Case: Product and Service Cross-Selling and Upselling!
If you want to make the most of your product and service portfolio, you must look for opportunities to cross-sell and upsell your clients and to bundle services to attract new clients. With the right information, business managers can leverage customer satisfaction to cross-sell and upsell products and services, and to increase revenue and brand loyalty.
###Details >
 

Predictive Analytics Use Case: Demand Planning!

Predictive Analytics Use Case: Demand Planning!
If a business wishes to optimize inventory, production and supply, it must have a comprehensive demand planning process; one that can forecast for customer segment growth, seasonality, planned product discounting or sales, bundling of products, etc. In order to predict and forecast and assure product or service availability, the business must also look at the dependability of suppliers, shipping and the purchasing of parts that make up the products. It must also plan for appropriate resources and training and, where necessary, plan for new products.
###Details >
 
  • 1
  • 2