With only hindsight being 20/20, predictive analytics is being used by businesses to predict customer behavior, future market conditions and obstacles that were once unforseen. Accenture released their research on 600 business executives that said their companies have tripled their use of analytics tools since 2009. These companies attribute this massive increase to the trend towards “advanced application of analytics” to increased “sophistication in analytics capabilities that anticipate tomorrow rather than explain yesterday.”
Dr. Michael Wu gives the definition of predictive analytics as “a variety of statistical, modeling, data mining, and machine learning techniques to study recent and historical data, thereby allowing analysts to make predictions about the future.” Dr Wu is the Chief Scientist at Lithium Technologies, a social customer community software & social media marketing firm.
So how do you stay ahead of the pack or at least keep pace with what predictive analytics strategies are currently working best? The top analytics practitioners, authors, experts and industry thought leaders will be in Boston on October 5-9 at the Predictive Analytics World event to help answer that question.
5 Days of Predictive Analytics Insights!!
Oct 9th: A combined workshop titled “Advanced Methods Hands-on: Predictive Analytics Techniques’ taught by Dean Abbot, President of Abbot Analytics.
The biggest Fall event in analytics is the Predictive Analytics World Boston 2014 and is a MUST for any analytics professional wanting to hone their analytics skills and learn from the industry’s best experts. Get the full agenda, the list of speakers and discounts here and get involved in this huge event!
By: Todd Nevins, Director of News & Media, icrunchdata and Writer & Sr Editor at icrunchdata news
Originally published at news.icrunchdata.com
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