Predictive analytics works with analytic models that are designed to look for predictable behaviour, propensities, and business rules that can be used to predict the likelihood of certain behaviour and actions. Data quality is a hugely important starting point and our consultants will guide you in improving your data quality and establish predictive models for you.
Predictions are a valuable asset. But only when the right and correct data is used. You can’t predict the future if you don’t know your past! Therefore, reliable (economical, behavioural, financial) models are created, based on internal and external data. Once created, these models are monitored and adjusted in the case of available new data sets, improved quality data or market changes.
Statistical Models & Regression Analysis
Creating valuable predictive models is more than running statistical functions on your data. It requires knowledge of the business in order to create a set of assumptions. With regression analysis you can estimate a certain relationship from those assumptions, which enables you to identify trends and predictions for the (near) future. We have data scientists with experience in the field of banking, insurance, financial services, telecoms, retail, logistics and the energy domain.
Models based on training sets
Models can become very complex if there is more and more data added into the analysis. We can create models, based on the training sets of a neural network or a generic algorithm, which help with the discovery of potentially predictive relationships.