Predictive Analytics Times
Predictive Analytics Times
Exclusive Highlights
Wise Practitioner – Predictive Analytics Interview Series: Tanay Chowdhury at Zurich North America
 In anticipation of his upcoming conference presentation, Deep Learning...
Feature Engineering within the Predictive Analytics Process — Part One
 What is Feature Engineering One of the growing discussions...
The Executive’s Guide to Employee Attrition
 Much has been written about customer churn – predicting...
Wise Practitioner – Predictive Analytics Interview Series: Lawrence Cowan at Cicero Group
 In anticipation of his upcoming conference presentation, Data Driven...
Wise Practitioner – Text Analytics Interview Series: John Herzer and Pengchu Zhang at Sandia National Laboratories
 In anticipation of their upcoming conference co-presentation, Enhancing search...
Wise Practitioner – Text Analytics Interview Series: Emrah Budur at Garanti Technology
 In anticipation of his upcoming conference presentation, Tips and...
Wise Practitioner – Predictive Analytics Interview Series: Thomas Schleicher at National Consumer Panel
 In anticipation of his upcoming conference presentation, Using Predictive...
Ghosts in the Data, Constructing Data Entities
 Data Entities are seldom discussed concepts that primarily hide...
Wise Practitioner – Manufacturing Predictive Analytics Interview Series: Dr. Matteo Bellucci at General Electric
 In anticipation of his upcoming Predictive Analytics World for Manufacturing conference...
HR’s First Predictive Project? Pre-hire Candidate Screening
 Corp recruiters have a very important and difficult job....
Wise Practitioner – Manufacturing Predictive Analytics Interview Series: Gary Neights at Elemica
 In anticipation of his upcoming Predictive Analytics World for Manufacturing conference...
Wise Practitioner – Manufacturing Predictive Analytics Interview Series: Jeffrey Banks at The Applied Research Laboratory at The Pennsylvania State University
 In anticipation of his upcoming Predictive Analytics World for Manufacturing conference...
Wise Practitioner – Text Analytics Interview Series: Frédérick Guillot at Co-operators General Insurance Company
 In anticipation of his upcoming conference presentation, Leveraging Hands...
Wise Practitioner – Predictive Analytics Interview Series: Alice Chung at Genentech
 In anticipation of her upcoming conference co-presentation, Utilizing Advanced...
Wise Practitioner – Manufacturing Predictive Analytics Interview Series: Carlos Cunha at Robert Bosch, LLC
 In anticipation of his upcoming Predictive Analytics World for Manufacturing...
5 Common Mistakes Multi-Channel Retailers Make, and How to Avoid Them
  Multi-channel retailers are often finding themselves stuck in...
Three Critical Definitions You Need Before Building Your First Predictive Model
  Portions excerpted from Chapter 2 of his book...
Measurement and Validation: An Often Underrated Aspect within the Predictive Analytics Discipline
  In our Big Data world, software applications and...
Wise Practitioner – Predictive Workforce Analytics Interview Series: Haig Nalbantian at Mercer
  In anticipation of his upcoming Predictive Analytics World for...
Wise Practitioner – Predictive Workforce Analytics Interview Series: Pasha Roberts at Talent Analytics, Corp.
  In anticipation of his upcoming Predictive Analytics World for...
Improving Word Clouds as Tool for Text Analytics Data Visualization
  Rich Lanza will present Using Letter Analytic Techniques...
Dr. Data’s Music Video: The Predictive Analytics Rap
  With today’s release of “Predict This!” – the...
Wise Practitioner – Predictive Workforce Analytics Interview Series: Geetanjali Gamel from MasterCard
  In anticipation of her upcoming Predictive Analytics World for...
Mid-Life Journey to Data Science
  Data Science has been hailed as the sexiest...
Wise Practitioner – Predictive Analytics Interview Series: Dr. Patrick Surry of Hopper
  In anticipation of his upcoming keynote conference presentation,...
What are you Predicting in Customer Retention?
  Customer Retention models are arguably the most valuable...
Wise Practitioner – Predictive Analytics Interview Series: Ken Elliott at Hewlett Packard Enterprise
  In anticipation of his upcoming conference presentation, Operationalizing...
Wise Practitioner – Workforce Predictive Analytics Interview Series: Holger Mueller at Constellation Research
  In anticipation of his upcoming Predictive Analytics World for...
Wise Practitioner – Predictive Analytics Interview Series: Lawrence Cowan at Cicero Group
  In anticipation of his upcoming conference presentation, Predicting...
Hey FinTech, What’s Your Strategy for Leveraging Unstructured Data?
  Financial technology has sparked a global wave of...
Wise Practitioner – Predictive Workforce Analytics Interview Series: Raffael Devigus at F. Hoffmann-La Roche AG
  In anticipation of his upcoming Predictive Analytics World for...
Wise Practitioner – Predictive Analytics Interview Series: Rebecca Pang at CIBC
  In anticipation of her upcoming conference presentation, Driving...
Employee Engagement – a Tricky Metric for Predictive Analytics
  Our work focuses on using predictive analytics to...
Wise Practitioner – Predictive Workforce Analytics Interview Series: Daniil Shash at Eleks
  In anticipation of his upcoming Predictive Analytics World...
The Information Age’s Latest Move: Four Predictive Analytics Developments for 2016
  Originally published in Big Think Prediction is in...
Why Do We Stop Asking Why?
  I’ve lived through this phenomenon first hand. The...
Predictive Analytics and the Internet of Things
  As technology continues to empower our ability to...
Wise Practitioner – Predictive Analytics Interview Series: Mario Vinasco at Facebook
  In anticipation of his upcoming conference presentation, Advanced...
Wise Practitioner – Predictive Workforce Analytics Interview Series: Vishwa Kolla at John Hancock Insurance
  In anticipation of his upcoming Predictive Analytics World for...
In Predictive Analytics, Coefficients are Not the Same as Variable Influence, Part II
  In my last post, “Coefficients are not the...
Wise Practitioner – Predictive Workforce Analytics Interview Series: John Lee at Equifax Workforce Solutions
  In anticipation of his upcoming Predictive Analytics World for...
Wise Practitioner – Predictive Analytics Interview Series: Peter Bull at DrivenData
  In anticipation of his upcoming conference presentation, Predicting...
The “Predictive Analytics” FAQ — What’s New in the Updated Edition and Who’s The Book for?
  This is the preface to Eric Siegel’s newly-released...
Wise Practitioner – Predictive Analytics Interview Series: Matt Bentley at CanIRank.com
  In anticipation of his upcoming conference presentation, Predicting...
Wise Practitioner – Predictive Workforce Analytics Interview Series: Lisa Disselkamp and Tristan Aubert at Deloitte
  In anticipation of their upcoming Predictive Analytics World for...
The Data Scientist’s Dilemma: Does Skipping Breakfast Kill You?
  Would skipping breakfast kill you? Not necessarily—but confusing correlation and...
Predictive Analytics Can Help with the Challenges Facing Manufacturing in the 21st Century
  Historically, data and analytics have been key to...
Wise Practitioner – Predictive Analytics Interview Series: Nate Watson at Contemporary Analysis
  In anticipation of his upcoming conference presentation, Predictive...
Customer Experience Predictions for 2016
  As we look ahead and see 2016 unfurling...
Predictive Analytics Book Excerpt: Hands-On Guide—Resources for Further Learning
  Here is the Hands-On Guide that appears at...
Wise Practitioner – Predictive Analytics Interview Series: Hans Wolters at Microsoft
  In anticipation of his upcoming conference presentation, Predicting...
Machine Learning: Not Necessarily a New Phenomenon in Predictive Analytics
  One of the more recent topics gaining traction...
Wise Practitioner – Predictive Workforce Analytics Interview Series: Frank Fiorille at Paychex, Inc.
  In anticipation of his upcoming Predictive Analytics World for...
Netflix, Dark Knowledge, and Why Simpler Can Be Better
  Weary from an all-night coding effort, and rushed...
The Case Against Quick Wins in Predictive Analytics Projects
  When beginning a new predictive analytics project, the...
Wise Practitioner – Predictive Workforce Analytics Interview Series: Jason Noriega at Chevron
  In anticipation of his upcoming Predictive Analytics World for...
Wise Practitioner – Predictive Analytics Interview Series: Matthew Pietrzykowski at General Electric
  In anticipation of his upcoming conference co- presentation, Advanced...
B2B Predictive Analytics: An Untapped Sector
  Much work in predictive analytics and data science...
Wise Practitioner – Predictive Workforce Analytics Interview Series: Greg Tanaka at Percolata
  In anticipation of his upcoming Predictive Analytics World for...
Wise Practitioner – Predictive Workforce Analytics Interview Series: Michael Li at The Data Incubator
  In anticipation of his upcoming Predictive Analytics World for...
Four Ways Data Science Goes Wrong and How Test-Driven Data Analysis Can Help
  If, as Niels Bohr maintained, an expert is...
In Predictive Analytics, Coefficients are Not the Same as Variable Influence
  When we build predictive models, we often want...
Oracle’s Ten Enterprise Big Data Predictions for 2016
  Companies big and small are finding new ways...
Personalities That Are Barriers to Model Deployment (And How to Partner With Them) Part III: The Expert
  So you have gathered your data and completed...
Wise Practitioner – Predictive Workforce Analytics Interview Series: Kathy Doan at Wells Fargo Bank
  In anticipation of her upcoming Predictive Analytics World for...
Wise Practitioner – Predictive Workforce Analytics Interview Series: Jonathon Frampton at Baylor Scott & White Health
  In anticipation of his upcoming Predictive Analytics World for...
Mobile Analytics-Mining the Visit Experience of the Customer
  Mobile technology as part of the Big Data...
The Devil’s Data Dictionary – Making Fun of Big Data
  Buy it on Amazon When Stéphane Hamel coined...
Wise Practitioner – Predictive Workforce Analytics Interview Series: Ben Waber of Humanyze
  In anticipation of his upcoming Predictive Analytics World for...
The Quest for Unicorns
  Will there be enough data scientists in the...
Most Swans are White: Living in a Predictive Society
  In anticipation of the forthcoming Revised and Updated,...
Hiring? Approving Mortgages? It’s the Same Thing
  Imagine that Chris wants to buy a house...
Personalities That Are Barriers to Model Deployment (And How to Partner With Them) Part II: The Skeptic
  So you have gathered your data and completed...
5 Types of Analytics in Business: One to Go After and One to Avoid
  I have been lucky enough to work in...
The Beginner’s Guide to Predictive Workforce Analytics
  Human Resources Feels Pressure to Begin Using Predictive...
Predictive Modeling Forensics: Identifying Data Problems
  Excerpted and modified from Chapters 3 and 4...
Five Wins for Retail with Predictive Analytics
  We’ve heard a lot about how big data...
Faster Credit Scoring Dev With Specialized Binning Code – R Package
  Introduction One of the main concerns in a...
Good Predictions != Good Decisions
  A Fateful Tale Ted is having a rough...
Using Predictive Analytics to Bring Retailers Closer to Their Customers
  Based on the amount of retailers that have...
Visualization: Panacea for Building Analytics Solutions?
  Data,data,data everywhere and what do I do with...
Five Challenges in Using Predictive Analytics to Improve Patient Outcomes
  In the increasingly patient-centric world of healthcare, predictive...
Personalities That Are Barriers to Model Deployment (And How to Partner With Them) Part I: The Early Adopter
  So you have gathered your data and completed...
Five Ways Predictive Analytics Will Shape the Future of Advertising
  Predictive analytics sounds almost mystical, and in a...
Five Ways Predictive Analytics Can Improve Patient Outcomes
  The use of analytics in healthcare is gaining...
Wise Practitioner – Predictive Analytics Interview Series: Scott Lancaster at State Street Corp.
  In anticipation of his upcoming conference presentation, Predictive...
Can Employee Development Lead to Business Mediocrity?
  Our predictive workforce assignments yield staggering results; saving...
Empathy and Data Science: A Fable of Near-Success
  Editor’s Note: While the story is fiction, the...
Wise Practitioner – Predictive Analytics Interview Series: Jeff Butler at IRS Research, Analysis, and Statistics organization
  In anticipation of his upcoming conference presentation, The...
A Look at How Big Data is Changing Sports on the Field and in the Press Box
  While major rules rarely change, everything else about...
Wise Practitioner – Predictive Analytics Interview Series: Dr. Satyam Priyadarshy at Halliburton
  In anticipation of his upcoming conference presentation, Challenges...
Automation: Friend or Foe to the Predictive Analytics Practitioner
  Technologies and Big Data continue to bombard our...
Winning Roles: Moneyball 2.0, for your Hiring and Succession Planning Processes
  Business can learn a lot from sports in...
Wise Practitioner – Predictive Analytics Interview Series: Werner Britz at RCS Group
  In anticipation of his upcoming conference presentation, Recoveries:...
Wise Practitioner – Predictive Analytics Interview Series: Dr. Michael Dulin, Carolinas Healthcare System
  In anticipation of his upcoming keynote conference presentation...
Wise Practitioner – Predictive Analytics Interview Series: Benjamin Uminsky, Los Angeles County
  In anticipation of his upcoming conference presentation, Mining...
Wise Practitioner – Predictive Analytics Interview Series: Jessica Taylor of St. Joseph Healthcare
  In anticipation of her upcoming conference co-presentation at...
Wise Practitioner – Predictive Analytics Interview Series: COL William Saxon, Department of the Army
  In anticipation of his upcoming conference presentation, From...
Defensive Data Science: What we can Learn from Software Engineers
  (more…) To view this content OR subscribe for...
Wise Practitioner – Predictive Analytics Interview Series: Patty Larsen, Co-Director, National Insider Threat Task Force
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Wise Practitioner – Predictive Analytics Interview Series: Bin Mu at MetLife
  In anticipation of his upcoming conference presentation, Establishing...
Wise Practitioner – Predictive Analytics Interview Series: Michael Berry of TripAdvisor
  In anticipation of his upcoming conference presentation, Picking...
Wise Practitioner – Predictive Analytics Interview Series: Catherine Templeton, PAWGOV Keynote Speaker
  In anticipation of her upcoming keynote conference presentation,...
Wise Practitioner – Predictive Analytics Interview Series: William Wood of St. Joseph Healthcare
  In anticipation of his upcoming conference co-presentation at...
The Key to Modelling Success-The Variable Selection Process (Part 2)
  Last month, I discussed the importance of variable...
Wise Practitioner – Predictive Analytics Interview Series: Madhusudan Raman at Verizon
  In anticipation of his upcoming conference presentation, Predicting...
Wise Practitioner – Predictive Analytics Interview Series: Scott Jelinsky of Pfizer, Inc.
  In anticipation of his upcoming conference presentation at...
Wise Practitioner – Predictive Analytics Interview Series: Chris Franciskovich at OSF Healthcare System
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Wise Practitioner – Predictive Analytics Interview Series: Philip O’Brien at Paychex
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Wise Practitioner – Predictive Analytics for Healthcare Interview Series: Daniel Chertok at NorthShore University HealthSystem
  (more…) To view this content OR subscribe for...
Wise Practitioner – Predictive Analytics Interview Series: Herman Jopia of American Savings Bank
  In anticipation of his upcoming conference presentation, Driving...
Stop Hiring Data Scientists Until You’re Ready for Data Science
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How to manage projects in Predictive Analytics
  In the previous five years, the analytical scene...
Wise Practitioner – Predictive Analytics Interview Series: Lawrence Cowan of Cicero Group
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Defining Measures of Success for Cluster Models
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Good luck placing Analytics in an org chart
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Retail Predictive Analytics Solves the Missing Link in Cross Selling, Up Selling, and Suggestive Selling
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Sameer Chopra’s Hotlist of Training Resources for Predictive Analytics
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Wise Practitioner – Predictive Analytics Interview Series: John Smits of EMC
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Be a Data Detective
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Predicting Employee Flight Risk: My Take
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The Key to Modelling Success -The Variable Selection Process (Part 1)
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Predictive Analytics World in Color [Infographic]
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Space Alien Eager to Convey Thoughts on Data Science
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Defining Measures of Success for Predictive Models
  Excerpted from Chapters 2 and 9 of his...
Overstatement of Results in Predictive Analytics
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The Biggest Lever to Success in Predictive Analytics
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Wise Practitioner – Manufacturing Predictive Analytics Interview Series: Field Cady at Think Big Analytics
  In anticipation of his upcoming Predictive Analytics World for...
Wise Practitioner – Manufacturing Predictive Analytics Interview Series: Jeffrey Thompson of Robert Bosch, LLC
  In anticipation of his upcoming Predictive Analytics World for...
Wise Practitioner – Manufacturing Predictive Analytics Interview Series: Kumar Satyam of PricewaterhouseCoopers, LLP
  In anticipation of his upcoming Predictive Analytics World for...
White Paper – Immediate Access
Thank you for your interest in the white paper,...
Predicting Rare Events In Insurance
  As we all know, predictive analytics is a...
Python, Predictive Analytics & Big Data oh my!
  Python has seen significant growth in utilization in...
Wise Practitioner – Predictive Analytics Interview Series: Thomas Schleicher of National Consumer Panel
  (more…) To view this content OR subscribe for...
Leveraging Open Data: Improve Customer Experience and Drive New Market Opportunities
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From Code to Reports with knitr & Markdown
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Predictive Analytics Optimizes Prices and Markdowns for Retail
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Wise Practitioner – Predictive Analytics Interview Series: Delena D. Spann of US Government
  (more…) To view this content OR subscribe for...
Infographic – PAW SF
5-Minute Recap
  In San Francisco this past March and April,...
Wise Practitioner – Predictive Analytics Interview Series: Dr. Patrick Surry of Hopper
  In anticipation of his upcoming conference presentation, Buy...
Wise Practitioner – Predictive Analytics Interview Series: Viswanath Srikanth of Cisco
  In anticipation of his upcoming conference co-presentation, Building...
Wise Practitioner – Predictive Analytics Interview Series: Jack Levis of UPS
  In anticipation of his upcoming conference keynote presentation, UPS...
Trust in Analytics Work: Why it’s Needed and How to Build It
  Much has been written about data-driven decision making....
Guiding Principles to Build a Demand Forecast
  Demand forecasting is one of the most challenging...
Wise Practitioner – Predictive Analytics Interview Series: Arcangelo Di Balsamo of IBM
  In anticipation of his upcoming conference presentation, Applied...
Wise Practitioner – Predictive Analytics Interview Series: Dean Abbott of Smarter Remarketer
  In anticipation of his upcoming conference presentation, The...
Predictive Analytics in Sports
  The world of sports has seen exponential increases...
5 Things I Learned at Predictive Analytics World for Workforce
  As a trained researcher, I’ve always been fascinated...
Predictive Analytics as a Strategic HR Solution
  This interview is the second in a series...
Visualizations Get Some Snap from R Shiny
  “Numbers have an important story to tell. They...
What Programming do Predictive Modelers Need to Know?
  In most lists of the most popular software...
Wise Practitioner – Workforce Predictive Analytics Interview Series: John Callery at AOL
  In anticipation of his upcoming Predictive Analytics World for...
Analytic Professionals — Share your views: Participate in the Rexer Analytics 2015 Data Miner Survey
  Data Analysts, Predictive Modelers, Data Scientists, Data Miners,...
Charlie Batch and the Cost of Obfuscation
  The hot Florida sun shone down on fans,...
Predictive Analytics for Insurance Risk: A New Level of Data Scrutiny-Part 2-Development and Implementation
  For more on the application of predictive analytics...
Is Big Data Better?
  Big data is usually defined as lots of...
Wise Practitioner – Workforce Predictive Analytics Interview Series: Chad Harness at Fifth Third Bank
  In anticipation of his upcoming Predictive Analytics World for...
Building the Optimal Retail Assortment Plan with Predictive Analytics
  After making a financial plan for the year...
Using Advanced Clustering Techniques to Better Predict Purchasing Behaviors in Targeted Marketing Campaigns
  Today’s forward-thinking retailers are seeking relevant, agile and...
Wise Practitioner – Workforce Predictive Analytics Interview Series: Patrick Coolen of ABN-AMRO Bank
  In anticipation of his upcoming Predictive Analytics World for...
Using Predictive Analytics to Predict and Manage Business Travel Burnout
  For more on the application of predictive analytics...
Wise Practitioner – Workforce Predictive Analytics Interview Series: Scott Mondore at Strategic Management Decisions, LLC
  In anticipation of his upcoming Predictive Analytics World for...
Wise Practitioner – Predictive Analytics Interview Series: Bob Bress of Visible World
  In anticipation of his upcoming conference presentation, TV...
Wise Practitioner – Workforce Predictive Analytics Interview Series: Holger Mueller of Constellation Research, Inc.
  In anticipation of his upcoming Predictive Analytics World for...
The Imminent Future of Predictive Modeling
  Predictive modeling tools and services are undergoing an...
Using Statistics and Visualization as Complementary Validation
  I don’t often find myself thinking or saying...
Predictive Analytics for Insurance: A New Level of Data Scrutiny
  For more on the application of predictive analytics...
The Three-Legged Stool of an Analytics Project
  Perhaps you have heard rumors going around that...
Defining Measures of Success for Predictive Models
  Excerpted from Chapter 2 of Mr. Abbott’s book...
Effective Framing of Predictive Analytic Projects
  For more from James Taylor, see his presentation...
Wise Practitioner – Predictive Analytics Interview Series: Richard Boire of Boire Filler Group
  In anticipation of his upcoming conference presentation, Predicting...
Wise Practitioner – Predictive Analytics Interview Series: Sarah Holder of Duke Energy
  In anticipation of her upcoming conference presentation, It’s...
Infographic – Predictive Analytics World by the Numbers
  Predictive Analytics World continues to grow by popular...
Wise Practitioner – Predictive Analytics Interview Series: Mohamad Khatib of Nielsen
  In anticipation of his upcoming conference presentation, Pizza...
A Critical Step Toward Organizational Data Maturity: Thinking in Terms of Distributions!
  For more from the Josh Hemann, see his...
It is a Mistake to…. Answer Every Inquiry
  (Part 9 (of 11) of the Top 10...
Wise Practitioner – Predictive Analytics Interview Series: Dominic Fortin of TD Insurance
  In anticipation of his upcoming conference presentation, A...
5 Ways Retail Predictive Analytics helps Fashion Retailers Maximize Gross Margin
  Fashion retailers have one of the most dynamic...
Wise Practitioner – Workforce Predictive Analytics Interview Series: Pasha Roberts at Talent Analytics
  In anticipation of his upcoming conference presentation, A...
Predictive Modeling Skills: Expect to be Surprised
  Excerpted from Chapter 1 of Mr. Abbott’s book...
Big Data: To Analyze or Not to Analyze
  Much has been written about Big Data and...
Wise Practitioner – Predictive Analytics Interview Series: Bryan Guenther of RightShip
  In anticipation of his upcoming conference presentation, The...
Wise Practitioner – Predictive Analytics Interview Series: Aaron Lanzen of Cisco
  In anticipation of his upcoming conference presentation, Integrating...
Wise Practitioner – Predictive Analytics Interview Series: David Schey of Digitas
  In anticipation of his upcoming conference presentation, Uplift...
It is a Mistake to…. Extrapolate
  (Part 8 (of 11) of the Top 10...
Wise Practitioner – Workforce Predictive Analytics Interview Series: Carl Schleyer of 3D Results
  In anticipation of his upcoming Predictive Analytics World for...
The Trouble with Numbers
  Previous discussions in other publications have often revolved...
Wise Practitioner – Predictive Analytics Interview Series: Josh Hemann of Activision
  In anticipation of his upcoming conference presentation, Cheating Detection...
Practical Predictive Modeling: Quick Variable Selection
  This post is largely excerpted from Dean Abbott’s...
It is a Mistake to…. Discount Pesky Cases
  (Part 7 (of 11) of the Top 10...
Wise Practitioner – Workforce Predictive Analytics Interview Series: Scott Gillespie, Managing Partner of tClara
  In anticipation of his upcoming Predictive Analytics World...
Want to Improve Your Prototype-to-Production Analytics Process? Embrace Thinking Inside the Box
  Anyone in the business of analytics knows that...
Using Decision Trees in Variable Creation: Minimizing Information Loss-Part 1
  Numerous articles have been written about the use...
Predictive Analytics turns Multi Channel Retailing into Omni Channel Retailing.
  Multi Channel retailing has existed for a very...
Eric Siegel Discusses Predictive Analytics and Civil Liberties on KCRW’s Radio Show
  Last week on “To the Point,” an NPR-syndicated...
Wise Practitioner – Predictive Analytics Interview Series: Dean Abbott, Smarter Remarketer
  In anticipation of his upcoming conference keynote and...
Wise Practitioner – Predictive Analytics Interview Series: Elpida Ormanidou of Walmart
  In anticipation of Predictive Analytics World for Workforce,...
Future of Analytics: Big Data Integration, Transforming Organizations and Processes, Providing Speed and Foresight
  With Analytics being a buzzword, most business executives...
Haystacks and Needles: Anomaly Detection
  Anomalies vs Outliers Anomaly detection, or finding needles...
Auditing the Data When Deploying Predictive Analytics Solutions
  Much of the discussion in the predictive analytics...
Leveraging Dark Data: Q&A with Melissa McCormack
  Melissa McCormack,Research Manager at predictive analytics research firm...
Wise Practitioner – Predictive Analytics Interview Series: Nephi Walton, M.D., Washington University/University of Utah
  In anticipation of his upcoming conference presentation at...
Using Predictive Modeling Algorithms for Non-Modeling Tasks
  It is obvious what predictive modeling algorithms like...
Wise Practitioner – Predictive Analytics Interview Series: Greta Roberts of Talent Analytics
  In anticipation of her upcoming keynote conference presentation...
Wise Practitioner – Predictive Analytics Interview Series: George Savage, M.D., Proteus Digital
  In anticipation of his upcoming keynote conference presentation...
From Human Screen to Machine: Predictive Analytics Helps Avoid a Major Point of Hiring Failure
  What is an employer’s most business-critical corporate process?...
Predictive Analytics in Health Care: Helping to Navigate Uncertainties and Change
  A recent billion-dollar forecasting error in Walgreen’s Medicare-related...
The Power of Predictive Analytics for Retail Replenishment
  Replenishment is an essential process in the retail...
Voice of the HR Profession: “Charts and Graphs are Hard to Follow”
  In early August, our Director of Marketing reached...
Wise Practitioner – Predictive Analytics Interview Series: John Cromwell, M.D., University of Iowa Hospitals & Clinics
  In anticipation of his upcoming keynote conference presentation...
Creating the All-important Analytical File-The Key Step in Building Successful Predictive Analytics Solutions
  In the data audit process, canned routines are...
Wise Practitioner – Predictive Analytics Interview Series: Linda Miner, Ph.D., Southern Nazerene University
  In anticipation of her upcoming conference presentation at...
It is a Mistake to…. Accept Leaks from the Future
  (Part 6 (of 11) of the Top 10...
Wise Practitioner – Predictive Analytics Interview Series: Marty Kohn, M.D. of Jointly Health
  In anticipation of his upcoming conference keynote at...
What’s the Government’s Role in Big Data Surveillance?
  What if predictive analytics could help prevent acts...
Wise Practitioner – Predictive Analytics Interview Series: John Foreman of MailChimp
  In anticipation of his upcoming conference keynote at...
Is Predictive Analytics Insidious? National Radio Interview
  Interviewing Eric Siegel on the radio, a Hollywood...
5 Reasons Predictive Analytics World for Workforce is Different – And Better
  If you follow the workforce analytics space, you...
Should Employee Analytics “Go Fishing” or Solve Business Problems?
  Over the years, our firm has had many...
Wise Practitioner – Predictive Analytics Interview Series: Sameer Chopra of Orbitz
  In anticipation of his upcoming conference keynote at...
Wise Practitioner – Predictive Analytics Interview Series: Jack Levis of UPS
  In anticipation of his upcoming conference keynote presentation, UPS...
Connecting the Experts with the Data Scientists
  “Can Machines Think?” was the cover of Time...
Why analysts should master public speaking
  Industry leader and consultant Geert Verstraeten serves as...
Defining the Target Variable in Predictive Analytics- A Not so Easy Process
  Defining a target variable is one of the...
Book Review of “Applied Predictive Analytics” by Dean Abbott
  Industry leader and author Dean Abbott will be...
Recognizing and Avoiding Overfitting, Part 1
  In my last two posts I described why...
Webinar: Towards Solving Employee Attrition: Cost Modeling
  Presented by: Pasha Roberts, Chief Scientist, Talent Analytics,...
It is a Mistake to…. Listen Only to the Data
  (Part 5 of 11 of the Top 10...
The Data Audit Process (Part 1)-The Initial Step in Building Successful Predictive Analytics Solutions
  Building predictive analytics solutions is very much in-vogue...
10 Practical Actions that Could Improve Your Model
    (adapted from Chapter 13 of the Handbook...
The Great Analytical Divide: Data Scientist vs. Value Architect
  In the analytics space, it is quite common...
Employee Churn 202: Good and Bad Churn
  Our prior article on this venue began outlining...
Why Overfitting is More Dangerous than Just Poor Accuracy, Part II
  In part one, I described one problem with...
Predictive Analytics is the Answer to Smart Fulfillment and Omni-Channel Retailing
  Over the past 5 years there have been...
Employee Churn 201: Calculating Employee Value
  Much has been written about customer churn –...
Why Overfitting is More Dangerous than Just Poor Accuracy, Part I
  Arguably, the most important safeguard in building predictive...
5 Ways to Become Extinct as Big Data Evolves
  The need to adopt sophisticated data analytics has...
It is a Mistake to…. Ask the Wrong Question
  (Part 4 (of 11) of the Top 10...
What Role can Network Analysis play in Business Intelligence?
  Network analysis is an emerging Business Intelligence technique...
The Data Behind Data Scientists: Top Kaggle Performers
  Kaggle, an online platform that hosts data analytics...
It’s Predictive Analytics, not Forecasting!
  This is my final article for this year....
A Good Business Objective Beats a Good Algorithm
  Predictive Modeling competitions, once the arena for a...
Retail Predictive Analytics for Price Optimization & Markdown Management
  There is no doubt that price is one...
It is a Mistake to…. Rely on One Technique
  (Part 3 of 11 of the Top 10...
The Musings of a (Young) Data Scientist
I quit my job as a Mathematical Statistician after...
Big Data Continued…
Big Data is not a singular concept but rather...
How to Calculate the Optimal Safety Stock using Retail Predictive Analytics.
In a perfect world, a retailer knows exactly how...
The Role of Analysts After Model Deployment
Last month I made the case for discussing model...
How predictive analytics will power the internet of things
Recently, Nissan Motor announced that they will
Prediction Isn’t Just About Stocks. Predictive Persuasion
Prediction isn’t just for the stock market. Trading is...
The Greatest Power of Big Data: Predictive Analytics
Every day’s a struggle. I’ve faced some tough challenges...
It is a Mistake to… Focus on Training Results
(Part 2 of 11 of the Top 10 Data...
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CONTINUE READING: Access the complete article in data-informed, where it was originally published.  

5 months ago
How to Harness Predictive Analytics and Become a Big Data Dynamo

 

Predictive analytics has come a long way and, in an era defined by the ever-increasing influx of data and heightened customer demands, businesses no longer can deny its strategic importance.

Industries such as insurance, financial services, and retail have used predictive analytics for decades, while others are just getting started. So what’s new? Predictive analytics now is being used to support day-to-day business operations and decision making rather than only special, retrospective projects.  Companies that use predictive analytics effectively can glean forward-looking insights that enable them to spot new business opportunities and innovate more quickly.

So why aren’t more companies doing it? Many simply don’t know where to start. Becoming a big data dynamo in your organization doesn’t require a complete rethink and change in how things are done. However, while business leaders agree on the importance of a data-driven approach to survive the next decade, an overwhelming number admit that, at the core, they still struggle with information overload and deriving actionable insights from data they already possess.

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Using predictive analytics, while difficult, is possible and also increasingly necessary to compete effectively today. In fact, in a recent study by Capgemini, 65 percent of respondents agreed that their business runs the risk of becoming irrelevant if they do not embrace big data.

Here are a few tips to position your company for predictive analytics success:

Focus on a Place to Start

With a sea of potentially useless data, narrow down your options and find the right area of your business to get started. CapGemini studies confirm that the number-one guiding principle to harnessing success with big data is to focus on solutions supporting your primary business objectives. Depending on your function, some considerations are market planning, account intelligence, and optimizing operations to streamline processes.

  • Market planning. To spot the right market opportunities, use simulations to blend economic data with your business-performance data to determine who is most likely to buy so you can focus efforts and build and deploy resources most effectively.
  • Account intelligence. Consumer brands born on the Internet, such as Amazon or Alibaba, excel at market basket analysis – analyzing customer purchasing behavior to figure out what they might buy next – but this is relatively new in the B2B space. Basically, you can determine which accounts have the greatest propensity to buy based on which purchases are likely to go together. Retailers use market basket analysis for promotions and targeted recommendations. Similarly, B2B companies can use internal and external tools for such analysis to amp up traditional lead-generation efforts.
  • Optimizing Operations. Ask yourself: Which of your day-to-day operational tasks can be done smarter? At EMC, for example, we noticed that there were more contract renewal opportunities than we had sales reps to make phone calls, so we use analytics to prioritize the highest-value renewals and direct the focus of sales reps.

Collect the Right Data

Some people believe those with the most data will win. My experience is that those with the right data win. The quality of data sources must be the top priority when launching an analytics function. Start small and look to incorporate both internal and external data sets.

Make Smart Hiring Choices to Build the Right Bench

It takes more than data scientists crunching data to be successful. Having the business perspective to develop actionable insights is essential. Build a diverse analytics team with a wide variety of skill sets, including data officers, analysts, engineers, scientists, and consultants.

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As you build a “data bench,” there are three or four roles to consider. The first is a data analyst, who is intimately familiar with how to extract and transform data for its intended purpose. Second is the data engineer, the person who knows how the data is being captured, the servers where the data is located, and the tools that are required to extract data for analysis. Third are the data scientists, who can create a profile or do clustering analysis on data. Finally, segment experts or consultants can contextualize the findings and deliver recommendations that are compelling to senior leaders.

Manage Organizational Change

Incorporating analytics into the decision-making process is not always welcomed by all stakeholders, so it’s important to manage the change strategically. You can ensure a smoother transition through the following steps:

  • Encourage engagement. Pilot programs and focus groups can help involve stakeholders in the process of building out an analytics function. Generally, folks want to be part of the solution rather than being given the final output. Early participation is a huge lift in driving change.
  • Enlighten and inform. Even the most sophisticated machine-learning models are grounded on some foundational data principles. Exposing some or all parts of a predictive model delivers transparency, which leads to trust, which leads to adoption.

Overwhelmed? Get Inspired, Get Going, Get Organized

CONTINUE READING: Access the complete article in data-informed, where it was originally published.

Author Bio:

John Smits is Chief Data Officer for EMC Corporation’s Global Business Operations. John leads EMC’s Business Insights and Analytics team in the development of market segmentation, customer intelligence, and business performance analytics that are enabling its digital sales transformation with big data insights. Check out John’s Wise Practitioner – Predictive Analytics Interview Series.

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