Knowing the future can make all the difference in the world, even if in reality or probability, you only have a 50 percent chance of being correct.
This is the realm of predictive analytics, being able to determine the best path forward based upon careful analysis of data. These days, predictive analytical models are making a huge impact across a wide range of industries, for companies large and small.
If you are truly concerned about looking into the future and have more faith in the corporate spindoctors than the fortune tellers of old, then you need to be following the lauded experts in this field.
You need to talk to Jim Kobielus of Forrester, Eric Siegel of Prediction Impact, Rob Walker of Chordiant and many other predictive analytics expert.
Examine the following and ask probing questions; best practices for designing predictive models; Proven use cases for predictive analytics; Pitfalls to avoid in implementing a program; How to balance different predictive models; Examples of adaptive models that work and have been proven to do so. Taste the pudding.
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