Predictive analysis

1. PREDICTIVE
ANALYSIS

2. Hello!
I am Rohit Kar
I am Electrical Engineering student
You can find me at:
rohit.kar96@gmail.com

3. How do we
Predict the
Future?

4. “If Big Data is sparking a revolution in general
management, then Predictive Analytics may be the
next big thing in talent management.”
-Richard Mosley

5. Predictive analytics is the form of
advanced analytics that use both
apriori data to forecast behaviour and
trends. It involves the use of statistical
analysis and machine learning
algorithms to predict the likelihood of
an event happening.

6. IN TWO OR THREE COLUMNS
Yellow
Is the color
of gold,
butter and
ripe lemons.
In the
spectrum of
visible light,
yellow is
Blue
Is the colour of the
clear sky and the
deep sea. It is
located between
violet and green on
the optical spectrum.
Red
Is the color
of blood,
and
because of
this it has
historically
been
associated

7. The biggest assumption in
predictive analysis is the
future always continues
to be like the past. People
generally establish strong
patterns of behavior and
keep them over time. But,
Sometimes these habits
change and thus makes
the predictive model
invalid.
Two Key Insights
We can predict the
future by analysis.
We just need the
right kind of data,
good statistical
models and be
careful to
assumptions.

8. BIG
CONCEPT
Bring the attention of your audience over a
key concept using icons or illustrations

9. Applications
of Predictive
Analysis

10. Problems with
Predictive Analysis

11. ● Not all problems require Predictive Analysis
● Prediction about the anonymous customer.
● Erratic buying interval
● Moving Rating Problem: Example - Companies like Netflix rely
on correctness of the rating provided by user, but I think a user can still give
a rating of 2 to a movie which he enjoyed but he just thought this is not a
movie which need to be rated
DEFINING THE PROBLEM

12. Diagram featured by http://slidemodel.com
Data Availability
● Lack of data understanding with
relation to business
● Underestimating social media data
● Use of years old data to predict the
near future
● Lack of incremental strategy

13. HOW CAN MANAGERS USE PREDICTIVE
ANALYSIS
⊸ It can help an organization to work with own strengths and taking full
advantage of areas where competitors are falling.
⊸ It helps to limit the distribution of offers and distribution codes only to the
audience who are about to leave.
⊸ It can help an organization to grow beyond increasing sales and it provides
insights through which company can improve its core offerings.
⊸ It can help an organization to grow existing base and acquire new customer
base by enabling positive customer experience.

14. MANAGERS SHOULD ASK THEIR ANALYSTS
⊸ Something about the source of data used in their analysis.
⊸ Make sure that the sample represents the whole population
perfectly.
⊸ Whether there were any outliers or not, and how did they
affect the results.
⊸ Assumptions behind their analysis.
⊸ Conditions which will make their assumptions invalid

15. Thanks!
Any questions?