Mile Palij asked: "y the way, does anyone know what "Predictive Analytics" means?"
You must have missed the FAQ at: http://www.spss.com/IBMFAQs.htm. This should clear it up. It appears that the world predicted by Phillip K. Dick in Minority Report is almost here. Q. What is predictive analytics software (PASW) and what value does it provide? Predictive analytics software captures and analyzes data about people’s attributes, attitudes and behaviors to gain a full understanding of anticipated future behaviors, applying these insights into business processes to improve outcomes. The key is to help our clients create greater value from data assets in all areas for unique, predictive insights in real-time that will enable them to predict future and make smarter decisions for improved business outcomes. This technology enables clients to create and apply data mining models to uncover hidden patterns in data, visualize data patterns to gain instant insight and quickly apply that insight to predict the outcomes of interactions even before they occur, while capturing essential information about people’s attitudes and opinions. It provides insights into complex questions with the ability to predict potential future outcomes. The ability to predict future trends, spot shifts in consumer patterns or behaviors even before they have happened can give businesses a competitive advantage in today's economy. Predictive analytics is being used by businesses to identify these trends and patterns to improve decision making that impact future business outcomes. Questions SPSS helps organizations answer: – How can a financial institution target its products and marketing strategies to reach interested, credit-qualified customers, building efficiency into the application process and increasing profitability? – How can a credit provider tailor car financing options that meet customers’ budget needs, increase the efficiency of credit risk analysis, reduce loan defaults and retain desirable customers? – Which factors (on-time arrivals, food and beverage menus, in-flight service, baggage handling, price, number of destinations, frequency of departures) are likely to drive customers to choose a particular airline carrier? SPSS’ predictive capabilities can also be coupled with those of another recent IBM acquisition, ILOG, which offers business rules and advanced mathematical models that are highly complementary for optimizing business decisions. Rick Dr. Rick Froman, Chair Division of Humanities and Social Sciences John Brown University Siloam Springs, AR 72761 [email protected] ________________________________________ --- To make changes to your subscription contact: Bill Southerly ([email protected])
