Predictive Analytics: Harnessing the Power of Big Data

Challenges – and many others like them – are best addressed with prediction. Will the patient’s outcome from surgery be positive? Will the credit applicant turn out to be a fraudster? Will the investment fail? Will the customer respond if mailed a brochure?

With predictive analytics, millions of decisions a day determine whom to call, mail, approve, test, diagnose, warn, investigate, incarcerate, set up on a date and medicate. By answering this mountain of smaller questions, predictive analytics combats financial risk, fortifies healthcare, conquers spam, toughens crime-fighting, boosts sales and may in fact answer the biggest question of all: How can we improve the effectiveness of all these massive functions across business, government, healthcare, non-profit and law enforcement work?

by Eric Siegel

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