Comments on: Who Really Wants Predictive Analytics? http://timoelliott.com/blog/2007/09/who_really_wants_predictive_an.html Timo Elliott's Business Analytics Blog Fri, 10 Feb 2012 13:24:00 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: Predictive Models http://timoelliott.com/blog/2007/09/who_really_wants_predictive_an.html/comment-page-1#comment-6709 Predictive Models Mon, 14 Mar 2011 16:41:35 +0000 http://192.220.58.236/blog/?p=53#comment-6709 A Predictive Models is made up of a number of predictors, which are variable factors that are likely to influence future behavior or results. In marketing, for example, a customer's gender, age, and purchase history might predict the likelihood of a future sale. A Predictive Models is made up of a number of predictors, which are variable factors that are likely to influence future behavior or results. In marketing, for example, a customer’s gender, age, and purchase history might predict the likelihood of a future sale.

]]> By: PredAlytics » new http://timoelliott.com/blog/2007/09/who_really_wants_predictive_an.html/comment-page-1#comment-6645 PredAlytics » new Fri, 18 Feb 2011 16:28:40 +0000 http://192.220.58.236/blog/?p=53#comment-6645 [...] Originally Posted by Timo Elliot on LINK [...]

[...] Originally Posted by Timo Elliot on LINK [...]

]]> By: Jay http://timoelliott.com/blog/2007/09/who_really_wants_predictive_an.html/comment-page-1#comment-37 Jay Wed, 11 Feb 2009 05:12:55 +0000 http://192.220.58.236/blog/?p=53#comment-37 Hi, I am from Cequity solutions. We are a Analytical Marketing company. We help our clients to make the most out of their customer data and help them create better marketing strategies. Take a look at our blog <a href="http://blog.cequitysolutions.com/" rel="nofollow">http://blog.cequitysolutions.com/</a> for more insights on customer and marketing analytics. Hi, I am from Cequity solutions. We are a Analytical Marketing company. We help our clients to make the most out of their customer data and help them create better marketing strategies. Take a look at our blog http://blog.cequitysolutions.com/ for more insights on customer and marketing analytics.

]]> By: Malcolm Ryder http://timoelliott.com/blog/2007/09/who_really_wants_predictive_an.html/comment-page-1#comment-36 Malcolm Ryder Sat, 15 Sep 2007 05:15:03 +0000 http://192.220.58.236/blog/?p=53#comment-36 So who wants predictive analytics? Because the very notion of analyzing one's way to a "correct" prediction is so provocative, it's hard to even make a comment that easily stays on point instead of swinging freely between paranoia and irrational exuberance... But let's look at the enthusiasms this way: *everyone* wants predictive analytics; a subset of everyone wants to pay for it; a subset of that payers' group is willing to trust it; and a subset of that trusting group is willing to depend on it. And the difference between what makes predictive analytics successfully useful versus successfully marketable is a gap just as large as the miniscule percent of dependents versus the whopping percentage of enthusiasts. To figure out where you ought to be within that gap, you have to decide whether you need to bet on change or not, to get what you insist on gaining. The more you need to bet on change, the more you're ready to rely on predictive analytics. "Predictive analytics" is confusing to people because it makes them think of "calculation" which makes them think of "facts" -- and in other words encourages the idea that there's science leading to certainty. The problem is that it isn't the certainty they suspect.The real point of prediction is not to identify future outcomes; it is to identify future possibilities. So who wants predictive analytics? Because the very notion of analyzing one’s way to a “correct” prediction is so provocative, it’s hard to even make a comment that easily stays on point instead of swinging freely between paranoia and irrational exuberance… But let’s look at the enthusiasms this way: *everyone* wants predictive analytics; a subset of everyone wants to pay for it; a subset of that payers’ group is willing to trust it; and a subset of that trusting group is willing to depend on it. And the difference between what makes predictive analytics successfully useful versus successfully marketable is a gap just as large as the miniscule percent of dependents versus the whopping percentage of enthusiasts. To figure out where you ought to be within that gap, you have to decide whether you need to bet on change or not, to get what you insist on gaining. The more you need to bet on change, the more you’re ready to rely on predictive analytics. “Predictive analytics” is confusing to people because it makes them think of “calculation” which makes them think of “facts” — and in other words encourages the idea that there’s science leading to certainty. The problem is that it isn’t the certainty they suspect.The real point of prediction is not to identify future outcomes; it is to identify future possibilities.

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