1 August, 2013
Path On Predictive Analytics Tools Needs Light From Business Beacons
Predictive analytics tools make it possible for companies to forecast customer behavior, litigation risks, product demand and other business scenarios. But it isn’t as easy as gazing into a crystal ball: To succeed in creating effective predictive analytics models that generate actionable findings, organizations need to develop a strategy that ties the technology to business operations in a concrete and comprehensive way.
Otherwise, consultants warn, deployments are likely to turn into technical exercises with no real connection to business goals and processes — and no predictive payoffs in the end.