Reasons predictive analysis: barriers and motivations

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When considering the reasons to opt for predictive analytics , the first thing to consider is the reasons why it is worth ruling out other less advanced analytical modalities. Predictive and prescriptive analysis are one step ahead of their predecessor, descriptive analysis, a technique that, despite providing an interesting perspective on the business, had many limitations. Some of these barriers can be seen when trying to answer questions about: The data sources used for the analysis. The representativeness of the data used to study a population. The existence of outliers in the data distribution. How localized exceptions can affect results. The assumptions that support the analysis. The conditions that, if present, could invalidate the assumptions.

Reasons predictive analysis The main reason to use predictive analytics is to have the ability to drive business growth. There is not only one way to do it, but, precisely there lies its genius, there are many ways, which will depend on the goals that the organization sets and the correlative establishment of priorities. Innovate, take advantage of opportunities, reach new customers, manage risk more effectively... there are as many possibilities as there are data. A business can enhance its development through predictive analytics : Identifying the training needs of your staff: to design career plans India Part Time Job Seekers Phone Number List more appropriate to the growth of the company and ensure that, in a few years, it will have a large group of qualified professionals who will respond to the demands of their positions, facilitating the adaptation of the business to future circumstances. Attracting candidates and retaining talent : by knowing market trends and understanding the motivations of the best professionals.



Even those who are not actively searching for employment; to be able to take the necessary actions that allow the organization to become an attractive entity, whose image is at the same time inspiring for employees, who strengthen ties with the company, by sharing its objectives and values. Betting on new markets or launching new products : initiatives that, despite being considered high-risk projects, are not so high when you have the necessary knowledge about the areas in question and have objective data that allow you to understand the market dynamics, the habits and trends of consumers and users and the motivations behind their decision mechanisms. Getting ahead of the competition: in innovation applied to new areas or developing strategies that allow the business to build on the weaknesses of the competitors that are most in demand. Some of the most important reasons to opt for predictive analysis. Minimizing risk: by being able to experience precision decision-making, where the actions to be taken are perfectly studied and there is no room for improvisation; while having the necessary tools to detect fraud prematurely, avoiding its harmful consequences. Related posts: The 3 essential elements of a predictive analytics solution Data scientist: neither with you nor without you The secret formula of predictive analytics.