The use of analytics has exploded onto the business scene to give company leaders the ability to gain better insight into every aspect of their business. More specifically, predictive analytics, coupled with the use of predictive tools, is becoming mainstream as company leaders seek to reduce risk, make data‐driven decisions, and strengthen competitive advantage. The ability to predict derives from the accumulation of data, which continues to grow at a breakneck pace. According to Gartner Research, data will grow an additional 800% in the next five years. Additionally, the creation of 1.7 megabytes of new information will occur every second for every human on the planet, reaching 44 trillion gigabytes. With proper manipulation, analysts will gain powerful insights through the identification of patterns that lead to predictive power.
The categories of analytics, and how they advance in value, are illustrated in the graphic and define the relational gaps with traditional methods of analysis.
The goal of predictive analytics and predictive modeling are to minimize error when predicting a particular outcome as a function of a set of predictors. The model seeks to identify a rule for the best method of combining the variables that will minimize error when introduced to new data sets. The model can then generalize new sets of data unconfined to the sample used to develop the model from which to inform business leaders when making difficult business decisions.
BIS can work face-to-face with you to establish predictive elements that give your business the competitive advantage in the long-term. You need to know first! With BIS, you will have the insight to act before the competition even saw it coming. That is Real Advantage.
We have the experience building proprietary algorithms and the legal team to ensure the most effective intellectual property protection.
You don’t know what you don’t know, but your data does. We can help you unleash the power of your data into informative modeling to let you make informed decisions to better your business.
What is it YOU need to know? We’ll find answers that allow you to act rather than react. Large or small, we can help your business do better.
We predicted you’d call.™