Boost Your Business With the Ultimate Guide to Predictive Analytics

Using predictive analytics in business is a hot topic, but it continues to feel a little mysterious. People around the world are intrigued by the potential of data and artificial intelligence to predict future events, grow companies, and transform industries. Check out the Google Trends chart below, showing how search interest in the term “data science” has skyrocketed since 2004:

But a lot of curious searchers probably stop there. The excitement undoubtedly fades when they encounter complicated, jargon-filled explanations of how AI is applied to big data to solve real business challenges. 

We know well that the data science field is complex. That’s why Pecan focuses on making data science and predictive modeling accessible to everyone, not just data scientists. In fact, we want every organization to be well positioned to benefit from the important data innovations reshaping today’s business world. 

To that end, we’re delighted to share a new guide, “The What and Why of Predictive Analytics.”  The guide explains the basics:

  • How predictive analytics works
  • Approaches to implementing predictive analytics models
  • The benefits of predictive analytics when foreseeing future outcomes is incorporated into your day-to-day decisions

The guide also puts predictive analytics into context with the other frequently used terms you’ve probably encountered, like machine learning and artificial intelligence:

graphic showing terms artificial intelligence, data science, machine learning, predictive analytics

Start exploring predictive analytics and its potential to grow your business with this clear, straightforward guide to the basics.

Check out the excerpt from the guide below that shares three important reasons to consider adopting predictive analytics for your business.

Why Your Business Needs Predictive Analytics Today

 

New predictive analytics tools make the transformative potential of this technology available to everyone. There’s never been a better time to take your business to the next level by making the most of your data. Unquestionably, it’s an investment that will benefit your team, no matter what area of the business you’re in.

 

1. Own the Competitive Advantage
Keep in mind that your competition is likely already using their data for these purposes, or they will be very soon. Indeed, the wider availability of user-friendly predictive analytics software is making this competitive advantage much more accessible. You want to be the leader in adapting your business decision making to a data-driven approach, making proactive decisions based on accurate predictions about the future, not just “best guesses” based on what happened in the past.

 

2. Predict Success with Customers
Predictive analytics can help you stand out in the sea of companies seeking customers’ attention today. With more choices than ever before, plus rapidly shifting consumer expectations and loyalty, you want every advantage possible. Use predictive analytics to improve the customer experience and maintain the relevance, reputation, and efficiency of your business.

 

3. Build Resilience
It’s obvious that we live in a time of great change and uncertainty. To be sure, pandemics, conflicts, and technological shifts make it difficult to know how to proceed in your business. But if you can use historical data to generate predictions, you can design an informed path forward. Navigate changing market conditions with confidence.
Knowing about the future lets you plan for the future, even when things seem unclear. Embracing predictive analytics offers you and your business this special capability — and it’s truly the next step in your business’s evolution.

Ready to get the full guide? Download it now and accelerate your learning — then accelerate meaningful business outcomes with predictive analytics.

And if you have questions, don’t hesitate to reach out to Pecan for help! We’re here to support your journey toward predictive analytics success.

Pecan is here to help you find the right applications of predictive analytics for your business, without data scientists. Don’t hesitate to reach out if you’d like to assess your predictive readiness with a quick, easy use-case consultation. We’ll help you find the best way to get future-ready.

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