The goal of Predictive Analytics is to go beyond descriptive statistics and reports about what happened, to uncover patterns and provide better insights about what will happen in the future.
Predictive Analysis focuses on using historical data, statistical algorithms and Machine Learning techniques to identify the likelihood of future events. The capabilities of this type of analysis makes possible, regardless of the industry in which each company operates, to analyse data and recognize patterns more effectively than ever before. Improving the accuracy of forecasts and acting on them allow companies to better respond to future challenges, placing them in a privileged position over their competitors.
As a result, the decision-making process is simplified and the generation of new insights leads to greater effectiveness and better results.
Benefits of Predictive Analysis models
- Improved processes and operations: The use of predictive models allows a better forecast of inventories and resources, leading to a better management of all logistic processes and an improvement in the decision process regarding price, production and supply policies.
- Improved effectiveness in Marketing and Sales campaigns: Through predictive models it is possible to anticipate customer’s needs. Using information that provides consumption patterns or trends and tailoring marketing and sales strategies to the customer’s profile, the conversion rates will greatly increase.
- Increased Productivity: Predictive analytics models have the ability to predict equipment malfunctions or network inefficiencies, thus providing companies the agility to avoid losses, reduce downtime, and increase productivity.
- Risk Reduction and Fraud Detection: The digital era in which we find ourselves has raised new challenges related to cybersecurity. Through predictive analysis it is possible to detect suspicious actions on the networks better than ever and to take the necessary preventive measures.
Discover the power of predicting the future with Predictive Analytics solutions