Predictive analytics uses data, statistical algorithms and machine-learning techniques to identify the probability of future outcomes based. Predictive analytics provides a predictive score for each customer or other organizational element. Predictive analytics aims to increase customer responses, conversions and clicks. Every predictive score foretells actions that should be taken with that customer. The goal is to provide the best assessment on what will happen in the future.
- Provides a quantitative foundation to quickly identify, objectively evaluate and assuredly seek new market opportunities.
- Identifies exactly who to target, how to reach them, when to make contact and what messages should be communicated.
Organizations who employ predictive analytics will enhance their business processes to improve their decision making processes. Businesses will additionally not only better manage the present, but also increase the likelihood of future success. Implementing predictive analytics will offer the means to recognize and assess opportunities.