5 Mistakes When Building Predictive Analytics and How to Overcome Them

Prevention is more effective than cure, just as making decisions based on data and predictive modeling is more effective than making decisions by adapting aging reports to the modern reality. The Gartner Analytic Ascendancy Model describes types of analytics based on the questions they help answer:

The modern market for analytics is stuck somewhere between descriptive and diagnostic analytics. Why? Because everyone has learned how to harvest data on customer behavior but few have learned how to activate it. Currently, only a small percentage of data collected by businesses is used for analysis. We need tools to extract insights from big data. There are five main mistakes companies make when they start building predictive analytics and forecasts.

Author: Mariia Bocheva

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s