What is Predictive Modeling

Home Predx News Search Demonstrations Licensing Info Request

What is Predictive Modeling White Papers

Turning Business Experience Into Better Decisions

Hindsight is 20-20...What if you knew:

  • Which customers would respond to your marketing campaign?

  • Which customers were going to switch over to your competitors, and which of your competitors' customers could be won over?

  • How much product volume you would move at any given price?

  • What the performance of a new site would be?

  • That a credit applicant was going to default?

  • That a transaction was fraudulent?

What if you knew it before it actually happened & in time to make the right decision for your targeted outcome?  What if the performance of your most experienced decision makers could be automated throughout your business on a daily basis?

These are the goals of predictive data mining.  It is a process for transforming data into actionable decisions.  This is accomplished by analyzing & modeling the dynamics of your operational data.  In its raw form, this data is of limited business value & is mainly used for reporting what has happened.  However, once the data is compiled into a compact model, you have a powerful tool for recognizing patterns and proactively predicting what will happen.