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What is Predictive Analytics?

Predictive Data Analysis or Predictive analytics it is the task that a company carries out in order to anticipate a result and act based on this data, being able to favor the fact that it happens (if it is positive) or avoid it (if it is negative). Basically, we could say that what is sought is to predict the future.

A correct strategy ofpredictive analytics It is developed in three levels:

-Descriptive level: a general observation of all the data that is possessed.

 

-Diagnostic level: the cause of the analyzed events is established and, if you want to do a deeper analysis, you can look for patterns.

 

-Predictive level: predictions are made of what could happen based on the analysis of the data collected.

 

-Prescription level: establish what will be done to stimulate the event or prevent it.

It should be noted that this type of analysis is carried out by strictly following a series of steps. It is also essential to know very well what is the goal or objectives that are pursued and the strategy that is intended to be carried out to achieve them. In order to see the expected results, you must follow this method thread by thread:

1-Knowledge of the business: here we talk about the strategy to follow according to the sector in which you move.

2-Knowledge of the data: we must know what we are looking for, determine what data we need to achieve it and discard everything that leads us to nothing.

3-Creating a model: here it is advisable to make a diagram or synoptic table indicating the objectives we pursue and the means by which we will carry them out.

4-Implementation: already with all the work done, we will start working on our strategy.

What is Predictive Analytics for?

All this allows a company to develop a profitable business model. It is possible, for example, to detect the imminent exhaustion of a certain stock and undertake a campaign to promote another product of which we do have a larger quantity. Predictive analytics has several functions and we will need to know exactly what the problem is that we want to solve in order to know exactly what questions we want to ask the data.

With a good predictive analytics we will be able to: reduce costs, reduce time and collect valuable information.

Examples of Predictive Data Analysis

A clear example of one predictive analytics is the custom audit service offered by Daimatics.agency. In this process, the agency is responsible for collecting all the historical data of your website and defining an SEO budget that is in accordance with the needs of your project. Among this data, predictive techniques are used to know what can be expected over time and how to act based on this knowledge.

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