October 2016
Beginner to intermediate
456 pages
11h 17m
English
book
Predictive Analytics For Dummies, 2nd Edition
by Dr. Anasse Bari, Dr. Mohamed Chaouchi, Dr. Tommy Jung
Content preview from Predictive Analytics For Dummies, 2nd Edition
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Chapter 18
Ten Reasons to Implement Predictive Analytics
IN THIS CHAPTER
Highlighting business goals
Forecasting business needs and managing inventory
Allocating company assets and resources effectively
Making better and informed decisions
Exploiting new opportunities
Navigating hidden risks
Increasing returns on investment
Business competition is fierce and global, which leads companies to employ everything in their power to survive and thrive. In such an environment, companies are seeking to increase their revenues while keeping the operating cost to a minimum.
Predictive analytics is a business enabler that helps accomplish the very essence of increasing companies' return on investments. If implemented successfully, it will drive your company's profits higher. It will help you turn your data into valuable information you can capitalize on, and it will give you the competitive edge you need to outperform your competition.
Predictive analytics enables companies to use the massive data they've accumulated from their operations as a refined resource to advance their businesses.
Identifying Business Goals
Predictive analytics can help you solve many business problems more effectively, but the crucial step toward that advantage is to identify specific business goals so you can choose the appropriate analytical tools to achieve them.
The process is twofold: The business goals you define help you build your predictive analytics project, and the completed model helps you measure ...
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I’ve been on the O’Reilly platform for more than eight years. I use a couple of learning platforms, but I'm on O'Reilly more than anybody else. When you're there, you start learning. I'm never disappointed.Amir M.
I'm always learning. So when I got on to O'Reilly, I was like a kid in a candy store. There are playlists. There are answers. There's on-demand training. It's worth its weight in gold, in terms of what it allows me to do.