PREDICTIVE ANALYTICS

The ability to predict future market conditions and to better understand the wishes and needs of customers is the wish of every entrepreneur. Existing computer systems, large databases and analysis environments such as Business Intelligence BI provide useful information on the current state of affairs, but their ability to help entrepreneurs look ahead is limited. Decision-makers must make assumptions about the future based on past events, and that process is by definition imperfect. What would really help an entrepreneur is accurate data-driven predictions about future market conditions: Predictive Analytics.

INTEREST

What can I use Predictive Analytics for in my company?

Predictive Analytics offers decision-makers and analysts the ability to make accurate predictions about future events in their market based on complex statistical algorithms applied to relevant data. With this Analytics method you can predict customer behavior, for example:

  • which customers are likely to purchase product x through channel y?
  • who will respond to certain offers?
  • how much do I have to buy product x and when do I have the right stock?

OPERATION

How can Predictive Analytics be used in my organization for better results?

Predictive Analytics is a powerful tool because it gives decision-makers an accurate view of the future and gives sales and marketing teams a better understanding of what customers want and need - information that is very valuable in making tactical and strategic decisions. So far, the challenge with Predictive Analytics has been that it is very complex to use, and it took a team of highly experienced data analysts to generate practical results. An investment that only the largest companies could afford. Fortunately, a new generation of Predictive Analytics tools has been developed in recent years that is much easier to use and can be deployed by business users in medium-sized companies on a daily basis.

Predictive Analytics adds real business value to the companies that know how to use it effectively. And the analytics tools required for this already exist.

Specialist in Predictive Analytics

What you do need is a clear vision and accompanying roadmap that indicate how these possibilities and advantages of Predictive Analytics can be implemented in your company and seamlessly integrated into the primary process. Ecommerce Result can help you take the first steps. Our services range from determining the right Analytics strategy (through workshops), guiding pilot projects to gain experiences, to advising on the integration of Predictive Analytics in your organization. With all these services, we focus as much as possible on the early determination of clear KPIs, so that you are able to determine the progress and success of this application and adjust it appropriately, where necessary.

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