What is predictive analytics?
Every organization wants a crystal ball to deal with an uncertain future. For example, who wouldn’t want to know how to pivot when events like a global pandemic or international conflict appear on the horizon?
As the old saying goes, past events cannot promise future results. However, predictive analytics bends those rules. The tools available today forecast the future using historical data to create actionable insights.
At Beyond Key, we work with several business intelligence tools to help organizations make educated decisions based on predictive analytics.
Predictive Analytics Uses
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Plan organizations’ future with actionable insights
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Identify Trends and Patterns
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Recognize Customer Needs
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Predict Employee and Customer Behaviors
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Develop Financial, Supply Chain, Manufacturing, and Sales Insights
- Business Intelligence Implementation
- Artificial Intelligence/Machine Learning Models - Create a model that automates data based on data models
- Predictive Analytics Modernizations - Optimize your predictive analytics
- Predictive Analytics Consulting - Show how customers leverage patterns from historical data
- Predictive Analytics Software Development - Develop a custom solution to accelerate decision-making
- Machine Learning Models - Train the data to work inside of an ML model to help with understanding trends
Benefits of a Data-Led Transformation
- Pre-built dashboards and reports.
- Pre-built dashboards and reports
- Simplified data
- Help executives make educated decisions
- Understand customers better
- 2.5 quintillion bytes of data generated every day
- 60% of Leaders have predictive analytics capabilities
- 90% of data is unstructured
Industries
Retail / Ecommerce
- Customer analysis
- Churn prediction
- Sales channel analytics
Healthcare
- Appointment setting
- Doctor workloads
- EHR analytics
Manufacturing
- Product analytics
- Inventory Management
Logistics
- Predictive route optimization
- Truck maintenance
- Supplier performance
Financial
- Policy cancellations
- Fraud detection
- Monitor revenue, expenses, and profits
Nonprofits
- Donor tracking
- Program expense performance
Predictive Analytics Models
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AI/ML A smart model stimulates learning based on past data to predict the future -
DAX Language (Python) Program language used to create formulas based on functions, operators, and constants to predict trends -
Premium User License Power BI has a per-user plan with additional pro capabilities
Case Studies / Client Spotlight
We helped a leading insurance company to leverage power of Predictive Analytics
Looking on the vast data, the insurance company had, Beyond Key suggested..
Group insurance company automates manual process of text extraction from PDFs using
The client is a New York-based top Group Insurance company that deals in Statutory Disability and Paid
Simplifying and Automating Claims Management Process by Leveraging Optical Character
BREG is a US based orthopedic bracing company specializing in providing premium, high-value
Our Clients
We work hard to earn the trust of our clients and build a long-lasting relationship with them. The core of this relationship lies in our team's dedication, honesty and commitment to work.
Meet our Clients
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Frequently Asked Questions
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What is predictive analytics and how does it work?
As a branch of data science, predictive analytics is a practice that leverages historical data, statistical models, and machine learning to predict future trends. It helps in fraud detection in all departments.
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How is predictive analytics different from traditional business intelligence (BI)?
Predictive analytics is used to predict and forecast future events. BI focuses on evaluating and analyzing past and present-day data.
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How can predictive analytics benefit business operations?
Predictive analytics can benefit business operations by improving customer targeting, reducing risk, optimizing operations, and improving business decisions.
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What types of data can be analyzed using predictive analytics?
Using predictive analytics, you can analyze customer data, sales data, operational data, financial data, and behavioral data.
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What is the role of predictive analytics in enterprise forecasting?
The role of predictive analytics is to improve forecasting accuracy. It is done by evaluating patterns and trends from past data.
