We've spent the past few weeks discussing predictive analytics in much detail. We started with an overview of predictive analytics, then took a tour of various companies doing outstanding work in predictive analytics today, and finally reviewed the awesome dashboards of Recorded Future and Sift Science. In this final post, we look at some common, yet relatively unnoticed applications of predictive analytics in our daily life.
I’ve spoken in some detail about what Sift Science does in my previous post. As a quick reminder, Sift Science helps e-commerce businesses fight fraud using the power of machine learning and predictive analytics. They collect diverse data, glean signals from it, and assign a ‘Sift score’ to every user which predicts how likely it is that a particular user is a fraudster.
Over the past few weeks we’ve been discussing predictive analytics at length. We started with an overview, and then went on a tour of 9 unique businesses that are leading innovation in predictive analytics. So far, we’ve just set the stage for this and the next post, where we take a focused look at the visualization methods and concepts used in predictive analytics products today.
Last week, we took at look at 5 startups doing cutting edge work in predictive analytics. But there really are so many examples of innovation in predictive analytics, that we couldn’t include them all in a single post, and have spread them out over to this post too. Here are 4 more startups that are paving the way for a future in predictive analytics.
In part 1 of this series on predictive analytics, we discussed the variety of data, particularly unstructured and semi-structured data, and the three types of predictive analytics. We also touched upon the approach of continual optimization of a predictive analytics system for it to become more and more accurate. With those basic concepts in place, we’re ready to take a tour of the various applications of predictive analytics as it’s used in businesses today. You can think of this as the hall of fame of predictive analytics. These businesses are playing “where the puck is going to be”
This week’s data digest takes a look at how data can transform CRM systems in the future, how it’s changing the way news is consumed today, and finally how visualization helps us comprehend complex patterns in data.
Since the beginning of time, we’ve always been fascinated with knowing what lies ahead. We started with predicting the seasons and weather patterns, and using that information to know when to sow seed, and when to harvest. Though some have the attitude ‘Que sera sera, whatever will be, will be,’ people have a fundamental desire to stay informed. Businesses are no different. Business leaders love the idea of certainty when making decisions.