Our Approach to Predictive Analytics

The aim of predictive analytics is to predict future behavior or events using current and historical information. It has been around for a long time, yet organizations are still unsure of what it is or where it fits into their data strategy. This is mostly because it depends on the quality of the information available and whether it is in a well-designed data warehouse.

Predictive analytics offers more advanced reporting and business analytics, and it requires reliable and well-established data and information governance. ExistBI’s framework takes the best of the industry-standard CRISP-DM (CRoss-Industry Standard Process for Data Mining) and applies an ‘agile’ overlay to make it more responsive for internet-paced market changes.

Our flexible approach ensures models remain current and effective, even for near real-time analytics. This avoids the trap of spending too long on building models in concrete only for them to quickly degrade as the business world around them changes.

Our Approach to Predictive Analytics

Who Uses Predictive Analytics

Companies in a wide range of markets including manufacturing, e-commerce, retail, financial services, energy, utilities and mining, telecoms, pharmaceuticals and healthcare use their data proactively to gain multiple benefits. These include:

  • Businesses who have good data management in place and who want to benefit more from it, for example exploiting their ‘single view of the customer’
  • Enterprises looking to create more refined customer segmentation with product portfolios tailored to them
  • Organizations looking to improve business performance and decrease costs through greater control of the customer relationship
  • Companies looking to increase profitability by improved up-selling, cross selling and customer retention.

Using predictive analytics, companies can:

  • Grow revenues and reduce outbound marketing costs by improving response rates through refined targeting with offers tailored to specific customer needs
  • Deliver steady and incremental profitability improvements through promotion and pricing optimization
  • Quickly build new data models to support a single view of the customer

More successfully up-sell, cross-sell and retention through personalized consumer engagement.

Who Uses Predictive Analytics

How Predictive Analytics Helps Sales Organizations

Identify Market Trends     |     Create Personalized Offers     |     Optimize sales resources

Let us help you with your Predictive Analytics project

Let our data consultants help leverage your data for your predictive analytics projects so you can improve operations, save money and increase revenue.

Implementing Predictive Analytics Project

Predictive Analytics Assessment

We work directly with your business people and your data. Particularly for predictive analytics, it is vitally important to develop a clear understanding of the business meaning of the data, because inferences will later be drawn from it and potentially far-reaching action taken as a result.

Often ExistBI consultants bring fresh eyes to help client staff members clarify their own understanding and make sure the most valuable business questions are being tackled. This fundamentally helps the client company on its journey to becoming an analytical competitor.

Predictive Analytics Case Studies

ExistBI US Air Force Data Governance
Finance and Banking Industry
Manufacturing Industry

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