Predictive Analysis

Understanding SCRUM in 7 Minutes

Make your data shine with Tableau

Even though we are not always aware of it, Data visualization is influencing our everyday life more and more. Our brains are made to easily process visual data, which we cannot say for complicated spreadsheets and reports. Raw data is monotonous and very often difficult to understand. By presenting data in a visually appealing way we are making it easier to read and also provide a possibility to uncover surprising patterns and observations that wouldn't be apparent from looking at stats alone. To begin visualizing your data you need a right peace of software.

Power BI – Business Intelligence Made Simple

In today’s era of information, a lot of companies are competing to deliver the best data visualization tool. Tableau has been the leader of this market for quite a while as they were the first to introduce a data visualization tool and, of course, many users still considered it to be the best tool in this area today. The ease at which Tableau’s tool can be used is hardly comparable to any other product in the Data Visualization world. Microsoft BI tool called Power Bi is swiftly catching up with Tableau, and is becoming their biggest competitor on the market.

How to Achieve Optimal Inventory Management of Your Online Store?

Smart inventory management is one of the key aspects of running a successful online sales business, especially with omnichannel approach, which provides extraordinary customer experience. Optimal stock levels are the goal. And, once the goal is defined, let's see how to achieve it.

Predictive Analytics employs the power of data, transforms them into useful information, and gives clear predictions and suggestions on how to achieve the ideal stock level of each product. Time is the most expensive, and critical resource, and Predictive Analytics is the master in serving the right information just in time when we need them...

Optimal inventory management with Predictive Analytics in mCommerce

Direct Benefits of Predictive Analytics for eCommerce

There is a huge number of goals to achieve in eCommerce, more or less important, and the same number of ways to measure the results and success of this approach: increasing sales, increasing profits, increasing customer base, increasing the number of customer purchases, maximizing sales per customer, maximizing sales per purchase, growing future business, being more visible, advancing brand reputation and recognition, minimizing customer abandonment etc. After setting these goals and employing advanced models in Predictive Analytics, successful Online Retailers will experience direct benefits from:

Benefits of Predictive Analytics

How to Apply Predictive Analytics in eCommerce?

Predictive Analytics uses BI data for forecasting and modeling. It uses Predictive Analysis to predict future patterns, and support managers in making better business decisions. With this advanced decision support system, managers evaluate the probability of future events, based on events from the past. Predictive Analytics incorporates advanced algorithms (statistical, data mining, machine learning) capable of revealing patterns beyond the power of traditional BI (Business Intelligence) tools.

Applied to eCommerce, this means collecting relevant information and employing the powerful algorithms of Predictive Analytics to help Sales Managers target the right customers, ones who are likely to respond positively, with products or services they are likely to enjoy, and at the time they are likely to buy.

Predictive Analytics Advanced Dashboard for eCommerce

Why Use Predictive Analytics in eCommerce?

Retail world changes rapidly and dramatically, influenced by two overriding factors. First one is technology. The second one, strongly affected by the first is consumer behavior. Only a few decades ago, being a retailer was much simpler and easier. The store represented one and the only place for creating consumer experience. With the rise of Information Technology, personal computers, internet, and finally mobile devices (smart phones and tablets), retail businesses faced multiple challenges in their struggle to attract and retain customers.

Predictive Analytics - view on a mobile device

1. Be aware that consumer behavior and habits are changing

2. Focus on consumers and their behavior

3. Focus on technology...

Data Mining for Predictive Social Network Analysis

Given this enormous volume of social media data, analysts have come to recognize Twitter as a virtual treasure trove of information for data mining, social network analysis, and information for sensing public opinion trends and groundswells of support for (or opposition to) various political and social initiatives. Twitter Trend Topics in particular are becoming increasingly recognized as a valuable proxy for measuring public opinion.

This article describes the techniques author employed for a proof-of-concept that effectively analyzed Twitter Trend Topics to predict, as a sample test case, regional voting patterns in the 2014 Brazilian presidential election.

AUTHOR: Elder Santos

What is Big data and How it can be used

Big data has been very popular during the last year, and that is a trend that is likely to continue. The term itself is appearing everywhere – social networks, blogs and news portals. But what is it all about?

Predictive Analytics in The Cloud

Predictive analytics in the cloud is becoming mainstream, with broader and accelerating adoption. We can say this based on recently completed Predictive Analytics in the Cloud Research, from Information-management.com

You can download the full report from the Information Management white paper library, but in this month’s column I thought I would highlight a few interesting results.