Predictive Model
- 1. Predictive Modeling By Modak Analytics
- 2. You too go by your instinctive decisions? Over the years, firms have been making intuitive decisions for their business processes. That might have a consistent rate of success at some level But
- 3. Facing bad consequences: Last thing you need! More often than not these decisions doesnt turn out the way they expect it to be. And thus decision makers have to face its consequences In the present competitive business scenario firms cant rely on their gut-feeling to make important decisions
- 4. Data you holding is no scrap!! Companies have to understand that its high time to dust off those piled up data and make some sense of it.. And use it to make liable decisions
- 5. Big question But the main question that boggles the managers is.. how to use the customer information to derive the useful insights??
- 6. Analytics to your rescue! It has a analytical solution i.e. Use Modak Analytics solution to analyze the data and draw out insights thereby designing a Predictive model
- 7. What will Modak Analytics do? We help you in figuring out, Better ways to hook new customers What products needs to be revamped Which existing customers should be worked on Rate customers on risk factor How to reduce fraud If your campaign was a success The factors costing your customers
- 8. What exactly is it? A Predictive model is a combination of data and mathematical process, where the learned data is transformed into a guiding model
- 9. Profitable investment Predictive analysis is widely used technology in the business arena today by the companies to make profitable decisions
- 10. How do we design a Predictive model? We are glutted with different types of methods to carry out Predictive modeling process. Some of them are, Clustering Decision tree Linear and logistics regression Scorecard, etc.,
- 11. Clustering: A loose definition of clustering could be the process of organizing objects into groups whose members are similar in some way. A cluster is therefore a collection of objects which are similar between them and are dissimilar to the objects belonging to other clusters
- 12. How will clustering help you? Helps you in, Segmenting the market Ranking your products Developing new product/services Predicting which customer will respond positively to your offering Recommends most appropriate step to take
- 13. Decision Tree Excellent tools for helping you to choose between several courses of action. Provides a highly effective structure within which you can, lay out options investigate the possible outcomes of choosing those options. Helps you to form a balanced picture of the risks and rewards associated with each possible course of action.
- 14. Linear and Logistic Regression: Linear regression produces a mathematical equation (or "model") for a "best fit" line to describe the relation. Logistic regression creates a model to describe the impact of multiple predictors on a single response variable. Linear and logistic regression simply differ in the type of outcome and predictor variables they employ, and the type of results they produce.
- 15. Scorecard: It articulates the links between leading inputs (human and physical), processes, and lagging outcomes Focuses on the importance of managing these components to achieve the organization's strategic priorities. It is a strategic performance management tool - a semi- standard structured report.
- 16. Confused what method to choose? Predictive models can also benefit from different modeling techniques at the same time. Modak Analytics provides customized solutions Then, the output of the ensemble leverages the different set of strengths inherent to different models and techniques.
- 17. Predictive Analytics enables advanced and beneficial decision making Predictive models are already shaping our experiences wherever we go and whatever we do. They recommend products and services based on our habits. It is one of the methods of keeping your business in pace with competing world