Benefits - Analytics in the Cloud
- Predictive analytics encompass a variety of techniques, including statistics, data mining and game theory among others, to analyse large amounts of data and discover new patterns and relationships to be used to make predictions on future behaviour or events.
- Algorithms that provide insight and prediction enables the discovery of key insights, patterns and trends in data that can be used to optimize business decisions.
- Predictive analytics is used across various industries and in many applications.
- Many organizations use predictive analytics for customer analytics so they can identify who are the best customers, propensity to buy new or additional products, or likelihood to leave and go elsewhere.
- Using natural language processing heuristic rules and statistical techniques reveal conceptual meaning in text, extracts concepts from text and categorizes them.
- It makes unstructured qualitative data more quantifiable, enabling the discovery of key insights from sources such as survey responses, documents, emails, call center notes, web pages, blogs, forums and more.