predictive analytics
A Forecast is Only as Good as the Data It's Based On
Predictive analytics, despite its sometimes intimidating title, is actually something that most organisations probably already do to some degree. Using data generated from past business activity to identify trends that may suggest future opportunities is really just business 101. Where Tanalytics' approach to predictive analytics differs is the scope, scale and complexity of the data used to develop these future trends. Additionally, Tanalytics draws on data sets that exist outside of your business' historical records to augment these predictions and in turn build forecasts that exceed expectation and deliver insights and opportunities you may never have thought possible.
Some examples of how predictive analytics might be able to support your business goals are:
- Fraud detection - Identifying abnormal patterns within your network based on past examples of fraudulent activity is a simple way to augment your company's security. Data privacy and financial fraud are now two of the biggest risks to businesses and will remain so while criminals continue to see advantage in targeting businesses.
- Marketing campaigns - Building a marketing campaign based on data extracted from past campaigns and augmenting it with real-time audience behaviour data can reduce your marketing spend concurrent with improved conversion rates.
- Pricing & Risk Management - Identifying trends and inflection points before they are obvious to your teams enables rapid mitigation action to take place thus reducing exposure and financial impacts.
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Building robust forecasting methodologies into your business planning can reduce risk, improve outcomes and deliver significant competitive advantage. Contact us to learn how Tanalytics can support your journey towards greater insights from predictive analytics.