Archive for December, 2008

December 28th 2008

Kick off 2009 by predicting 2010

Let's kick off this new year by predicting the next. You may say, "Ba Humbug, a year's too far ahead to predict." Not true, fruitcake! For many businesses, predictive analytics rides upon seasonal cycles, learning from last year's results in order to better target this year. Telecommunications and other subscription-based businesses face churn annually as contracts expire. And annual campaigns for seasonal mail-order catalogs – as well as some non-profits' fundraising – are driven by last year's results as well. But, alas, Scrooge got it right for the most part. In most deployments of predictive analytics, immediate customer responses are predicted, or near-term customer attrition is targeted for retention. By predicting just in time, your business takes the optimal action with each customer. Either way, whether one year or one second ahead, the value comes in foreseeing what's yet to come, thus conjuring the "Ghost of Christmas Future". Like a holiday present, if you predict it, you own it. Check out these relevant case studies coming to PAW-09: Telecommunications – churn: Telenor Finance – reponse: Charles Schwab Non-profit – fundraising: NRA

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December 21st 2008

Two great workshops on predictive analytics

Predictive Analytics World has added two workshops that serve as a third-day option on Feb 20 to complement the core conference program. Check out the rich session descriptions linked below: "The Best and the Worst of Predictive Analytics: Predictive Modeling Methods and Common Data Mining Mistakes" Instructor: John F. Elder, Ph.D., CEO and Founder, Elder Research, Inc. "Taking Action with Analytics: The Decision-Centric Enterprise – Putting Predictive Analytics to Work Improving Every Business Decision" Instructor: James Taylor, Co-Founder, Smart (enough) Systems

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December 8th 2008

The beef on how predictive analytics delivers business value

I wrote a new article spelling out the many ways predictive analytics can produce value for your business – namely, the business applications of predictive analytics.

It’s called, Predictive Analytics Delivers Value Across Business Applications.

The article summarizes the wide range of business applications of predictive analytics, each of which predicts a different type of customer behavior in order to automate operational decisions. A named case study is linked for each of eight pervasive commercial applications of predictive analytics.

Click here to read the article!

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