Forecasting vs predictive analytics: What’s the difference?
Understanding market progression helps companies move forward and expand their business, and data analytics can help organisations understand the market. For instance, tracking the evolution of consumer behaviour is an excellent way to plan to meet the changing demand—it is never a good idea to venture into the market without an effective strategy. While there […]
How predictive analytics for human resources will enrich human capital
Data analytics is fast becoming a key business intelligence tool across industries. With the power of data analytics tools, businesses can gain insights on how to enhance their business processes, reduce costs, and improve their customer experience. It’s safe to say that data analytics spans the breadth of all functions in a business. One data […]
The importance of predictive analytics in business intelligence
Ever since the dot.com revolution, businesses have been exposed to more data than ever before. Today, modern businesses collect more data in a month than they did in the entirety of the 2000s. That said, having access to vast amounts of data will become meaningless if a business doesn’t utilise it to create meaningful insights […]
The role of predictive analytics in the insurance industry
Apart from the banking industry, insurance is perhaps the most critical sector in an economy. It provides businesses and individuals protection against financial risks and helps the government finance development projects without borrowing high-interest loans from local and foreign banks. It is no surprise then, that governments encourage citizens to invest in insurance policies, to […]
How data scientists can leverage power BI predictive analytics tools
Modern businesses collect astronomical amounts of data every single day. According to certain studies, businesses now collect more data in a single month than they did across the entire 2000s. Data collection at this level is not unwarranted either; businesses, today, rely on this data to make critical managerial decisions and improve the services and […]
