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Ever wondered how Amazon shows you the list of recommendations that so completely match your current tastes and interests? It’s all to do with ‘predictive analytics’ which helps in getting those smart recommendations.
Analyzing the historical data for its patterns, trends and taking informed actions to re position a brand, product or service or anticipate future requirements as well as taking preventive actions, all of this is well achieved with the use of predictive analytics. The retail giants like Amazon, Flipkart, as well as some top online media companies like Netflix, Spotify, Instagram, Facebook etc all have made efficient use of advanced predictive analytics which helped to offer personalized optimized marketing campaigns and improved their service offerings as well as CAST ratings. Even many healthcare organizations are adopting predictive analytics, AI and machine learning to anticipate patient needs and provide effective and timely care.
Predictive analytics is also widely used in banks and financial institutions where prediction models on logistical regression are being built to identify probable customers who have more likelihood to accept a specific deposit or investment plan.
Aress has recently delivered some key machine learning and AI driven solutions for financial services marketing agencies, research organizations and telemarketing companies. The focus was on predictive analysis allowing visualization of resultant information to comprehend hidden trends and patterns. To effectively formulate and build your business strategies around predictive analytics and AI, get in touch for a free business consultation with me at firstname.lastname@example.org
Conclusion: As data is growing each day, it can be put to the best use by applying the correct analytics and AI algorithms and techniques, and it can be applied to numerous types of data businesses have. For businesses and enterprise organizations, this is a gold mine as they will be using this data to drive decision making adding to their revenues and profits overall.
Category: Analytics, Artificial Intelligence, Big Data and BI