Predictive analytics - Todays Businesses collect large amounts of real-time customer data and predictive analytics uses this large set of data, combined with customer insight, to predict future events. Predictive analytics enable organizations to variety of stored and real-time big data to move from a past view to a forward-looking perspective for the customer.
A typical example of Predictive analytics would be stores that use data from loyalty programs can analyze past buying behavior to predict the coupons or promotions a customer is most to participate in or buy in the future. Predictive analytics could also be applied to customer website browsing behaviors to deliver a personalized website experience for the customer.
Every decision an organization makes sales, marketing, operational or financial could impact organizations growth and if the decision are not effecting then it’s a missed opportunity to gain competitive market advantage. Each day organization is faced with risk as mention below.
As per the survey 90% of respondents gained a positive ROI from their most successful deployment of predictive analytics.
Four reasons to implement Predictive Analytics -
At TechnoSIP Inc we are helping our clients develop solutions that will help them stay ahead of these challenges.