Predictive Analytics allows people to make better decisions about how to spend their limited time, energy and money. The potential impact of predictive analytics on business will be similar to the personal computer, relational database and Internet. The power of predictive analytics is that it is a scientific business process improvement method that can be used to model complicated and hard to measure actives, such as why people buy something or which employees are likely to leave. Many business executives understand this potential and are excited about applying predictive analytics to their businesses.
At CAN, we exist to provide our clients with leading edge methodologies that are both effective and easy to use. This requires that we constantly learn about new tools and techniques, and hone a fine edge on the ones we keep to provide to our clients.
The United States faces a shortage of 140,000 to 190,000 people with deep analytical skills and 1.5 million managers and analysts to analyze data and make decisions based on their findings. — Big Data: The next frontier for innovation, competition, and productivity
Measurement can be defined as a quantitatively expressed reduction of uncertainty based on one or more observations, while counting is to determine the exact number or amount of something. Executives have become obsessed with counting; they track everything from inventory, hours worked vs. hours billed, number of Facebook fans, website visitors and much more. It is easy to like counting, because it is familiar and exact. However, it is time to move beyond counting, and start measuring.