June 2017
Intermediate to advanced
182 pages
4h 52m
English
book
Decision Support, Analytics, and Business Intelligence, Third Edition
by Daniel J. Power, Ciara Heavin
Content preview from Decision Support, Analytics, and Business Intelligence, Third Edition
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Predictive Analytics and Model-Driven Decision Support
Companies are implementing predictive analytics and quantitative models to assist managers. In line with this there is increasing demand for skilled professionals in the area of analytics and big data as discussed in chapter 4. There remain, however, important knowledge gaps about how to implement analytics and especially predictive analytics and model-driven decision support. In general, analytics refers to quantitative analysis of data. Analytics may be part of a data-driven or a model-driven DSS. Predictive analytics is about using models for predicting behavior or results. Predictive analytics can help managers make choices and develop competitive actions.
Many banks use analytics ...