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HBR Guide to Data Analytics Basics for Managers (HBR Guide Series)
book

HBR Guide to Data Analytics Basics for Managers (HBR Guide Series)

by Harvard Business Review
March 2018
Beginner content levelBeginner
256 pages
3h 56m
English
Harvard Business Review Press
Content preview from HBR Guide to Data Analytics Basics for Managers (HBR Guide Series)

CHAPTER 9

A Predictive Analytics Primer

by Thomas H. Davenport

No one has the ability to capture and analyze data from the future. However, there is a way to predict the future using data from the past. It’s called predictive analytics, and organizations do it every day.

Has your company, for example, developed a customer lifetime value (CLTV) measure? That’s using predictive analytics to determine how much a customer will buy from the company over time. Do you have a “next best offer” or product recommendation capability? That’s an analytical prediction of the product or service that your customer is most likely to buy next. Have you made a forecast of next quarter’s sales? Used digital marketing models to determine what ad to place on what ...

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Publisher Resources

ISBN: 9781633694293