Mauro Libi: Know the future of your company with predictive analytic

Predictive analytics is a tool that allows us to establish whether the business is going the right way or not. The procedure is not based on bringing to the present the facts that are coming and visualize them before they occur, but on taking what has already happened to make an estimate of what will happen. Predictive analytics is a business intelligence technology that forecasts from the experience of organizations.

     By the predictive analysis it is possible, for example, to optimize the marketing campaigns or to determine how the company is operating when reviewing the website of the same, the number of visits and the behavior of the users and clients. The information provided by the predictive analysis allow to have a vision about the conduct of the clients and according to how it is their behavior can act to avoid their migration to other pages or establish how to sell a product or service.

     What are the keys to predictive analysis?

1. The data: This is vital because the information that allows to do the predictive analysis. The information is the base for predictions or forecasts in relation to the behavior of customers, the attributes that a product and / or service have to have or any other decision that must be taken inside the companies. It is very important that such data provide quality information, which should prevail even over quantity. Of course, a good volume of good quality information will be better than to make the prediction.

2. Statistics: The management of all the information and its processing makes easy the establishment of statistics that explain what can happen in the future with very little margin of error.

3. Suppositions: Not everything will be the same all the time, because supposition varies according to customers' habits, as well as market circumstances and the company's own internal processes change. A permanent monitoring and review of this must be maintained. On the other hand, predictive analytics also require the sources of the information used for the analysis, the information metrics, the conditions that may affect the data, and the existence of atypical values ​​that may affect the results.

There are three predictive models:

A) The descriptive models that are based on the analysis of historical and current information.

B) Predictive models are based on the analysis of past data to determine the probability of occurrence of a given event.

C) Prescriptive models are the most complex and analyze all the elements of a decision and the variables to establish the probability of every one occurring.

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