Predictive Analytics

What are predictive analytics?​

Their name may sound like a crystal ball, but predictive analytics are science-based, proven tools. In short, they use descriptive data to predict future events through statistical methods. Predictive analytics can help us forecast demand, classify customers, anticipate events, and score leads and opportunities.  

Why are predictive they important for my company?

Descriptive analytics, like reports and dashboards, help us understand the state of our businesses. They leave it to the reader to determine the next likely event. Even if you’re deeply familiar with the data, difficult problems can still be tough to solve. Predictive data analysis helps inform your decisions when you tackle these problems.  

As humans, we have perception biases that are hidden in plain sight. Thus, when we search for patterns, we are likely to find what we’re looking for and overlook everything else. Computer models also have biases, but those biases are known – so we can account for them. Predictive analytics help bring insight and influence employee behaviors to achieve better results. When applied properly, it’s easy to see how this technology can fuel your business growth. 

How does Focus Ten Consulting produce predictive analytics?

We use state-of-the-art techniques through tools like R and Python. These tools develop models that produce predictions. We often use business intelligence software such as Microsoft Power BI and geographic information software such as Esri ArcGIS to display the results of our analyses. With these tools, we can collect and summarize predictive data with easy-to-read visuals and maps which visualize predictive data geographically.  

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