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1. “Transform Your Future with Predictive Insight.” Predictive Analytics. SAP: The Best-Run Businesses Run SAP, 2012. Web. 11 Aug. 2013. < http://tinyurl.com/lz79mgb>2. Siegel, Eric. “Seven Reasons You Need Predicative Analytics Today.” Predictive Analytics World. IBM, 2010. Web. 19 Aug. 2013. <http://www.csiltd.co.uk/PDFS/BI/Predictive%20analysis.pdf>.3. Kardon, Brian. “Predictive Analytics: The Power Behind Next-Gen Marketing.” Predictive Analytics:4. Rich, Dave, and Jeanne G. Harris. “Why Predictive Analytics Is A Game-Changer.” Forbes. Forbes Magazine, 1 Apr. 2010. Web. 11 Aug. 2013. http://www.forbes.com/2010/04/01/analytics-best-buy-technology-data-companies-10-accenture.html5. Rosencrance, Linda. “Using Predictive Analytics to Fight Crime.” TIBCO Spotfire’s Business Intelligence Blog, 13 Oct. 2011. Web. 19 Aug. 2013. <http://spotfire.tibco.com/blog/?p=8148>.
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The corporate crystal ballThe corporate crystal ball
Predictive Analytics
I see a bright future …
report a positive impact on the organization
realize a competitive advantage
3 predictive analytics models
Predictive analytics at work
The Chicago Police Department
Uncovers crime patterns and determines when and where
crimes are likely to occur
CPD
What’s in store for your organization?
I see darkness coming …
68%
86%
90%
145%
1%
6%
They may benefit from a cross-sold product
He’s ready to terminate service
Predictive analytics tells your fortune
Should we implement predictive analytics?
report a positive return on investment (ROI)
average ROI is realized
improvement in operating profit margins
increase in customer retention
2% 1%decline in profit margins drop in customer retention rate
Best Buy®
Redesigns stores to appeal to buying habits of 7% of its customers that are responsible for
43% of sales
Olive Garden® Manages staff more effectively and significantly reduces food waste after analyzing data on
staffing needs and food preparation requirements
Predictive model
analyze past to predict future
Descriptive models
analyze groups of people rather than individuals to
predict behaviors
vs.
Decision models
mathematical equations consider all elements of a decision to predict results
Predictive analytics helps organizations move beyond what happened to determine what will happen.
She’s ready to buy
He may buy after a call from your sales rep
$
Foresee changes in supply and
demand
Proactively manage workforce by attracting
and retaining talent
Predict market trends and customer needs
Create customized offers
Predict how market prices will impact production
