Predictive Analytics Technologies
Forecasting – Reviewing historical data and using it to predict the future. These forecasts are the result of sophisticated statistical models that take into account trends, as well as seasonal fluctuations.
Classification – Mathematically grouping similar individuals by common characteristics, also referred to as “cluster analysis”. The results can be surprisingly valuable, especially when highlighting a group that may have been historically overlooked.
Machine Learning – Using data to detect patterns and adjust program actions. Wide array of business applications, from data mining for new insights, to forecasting of time series.
Text Analysis – Offering companies the opportunity to turn petabytes worth of text into predicted sentiment on a range of topics and products, including the ability to leverage social listening via social media outlets.
Example Demand Forecasting
End-to-end workflow for timeseries prediction based on AI
The Predictive Analytics Process
- Define Project : Together, we define the project outcomes, deliverable, scope of the effort, business objectives and identify the data sets that are going to be used.
- Data Collection : Data mining for Predictive Analytics prepares data from multiple sources for analysis.
- Data Analysis : We inspect, clean and model data with the objective of discovering useful information and arriving at a conclusion.
- Statistics : We validate the assumptions and test them using standard statistical models.
- Modelling : Predictive modelling gives us the ability to automatically create accurate predictive models about the future. There are also options to choose the best solution with multi-modal evaluation.
- Deployment : We deploy predictive models to integrate analytical results into everyday decision-making process to get results, reports and output by automating the decisions based on the modelling.
- Model Monitoring : We manage and monitor models to review the model performance to ensure that it is providing the results expected.
Log-hub Predictive Analytics
Higher Forecasting Accuracy
Better Customer/Product Clustering
Better Risk Management
Detect New Business Opportunities