Post by ummefatihaayat12 on Feb 28, 2024 0:47:08 GMT -5
What good can it do to realize that a customer has been lost after he or she has already left? Interpreting the signals can prevent the outcome of undesirable consequences, such as fraud or loss of customers, two of the strategic objectives of predictive analytics. Predictive Analytics involves the discovery and communication of significant patterns found in the data based on work aimed at achieving previously established goals. The ROI of predictive analysis can be increased if the strategic business objectives are well defined. In these conditions: The scope is focused. The measurement gains in precision. Investment in resources is economized. Janoon028 The strategic objectives that come from predictive analytics The strategic objectives that organizations can consider in their predictive analytics actions have to do with their own development, their way of responding to changes in the environment or the ability to prevent future situations and act accordingly.
Organizational development: one of the most important strategic objectives that predictive analytics makes a reality. Companies that set these types of goals seek to grow internally, gain strength, preparation and improve their capabilities to guarantee their sustainability. Through predictive analytics, they achieve this in two different ways: Learning: from past situations and based on historical records or transactional data. Experience is the key in this way of developing procedures that is India Part Time Job Seekers Phone Number List only possible through this modality of advanced analysis. Improving: detecting weaknesses and areas that can be optimized, identifying processes that do not create value and eliminating them, to focus on everything that increases productivity and enhances performance. 2. Adaptive response : in an environment as dynamic as the current market, where competitiveness levels have reached historical highs, the ability to react in time and proactivity are rising values. These strategic objectives can be achieved by implementing predictive analytics techniques that help: Compete: taking advantage of the organization's strengths discovered thanks to a powerful and unique source of business intelligence that can be applied to different areas, such as sales or marketing.
At the same time, detecting the limitations of the competition, to attack their weak points , achieving a better positioning in the market . Satisfy customers and their expectations: based on in-depth knowledge of their tastes, habits, trends that allows segmentation, studying patterns and behaviors and offering maximum personalization, which multiplies the positive effects of commercial actions and marketing campaigns. 3. Ability to forecast : both the opportunities that are worth taking advantage of and the risks that should be avoided; two strategic objectives that should not be left aside and that, applied to a predictive analytics tactic, involve: Increased sales and customer retention: based on quality information, obtained from objective data, which allows you to decide where to focus and grow the business faster than competitors and when to act to avoid losing a customer . Fraud prevention: detecting and minimizing the risk of fraudulent transactions that involve large costs caused by credit card purchases or claims, among others. Related posts: The secret formula of predictive analytics The best consultants specialized in predictive analytics Data scientist: neither with you nor without you.