Fueled by the energy around Big Data projects, an increasing number of managers are attracted to the domain of analytics. When successfully applied, analytics provides the key to turn data into big value. But how do we ensure organisations reap the maximum return on their investments? How to increase the impact advanced analytical teams have on their organisations? This training provides a backbone for managing projects in Predictive Analytics that maximally impact the organisation. Additionally, this training establishes the foundation for fruitful collaboration between analysts, their peers and decision makers.
Applying predictive analytics has the potential to bring a huge impact to an organisation. Typical goals of such high-impact projects involve:
(i) increase targeted marketing success by predicting response
(ii) increase marketing relevance by offer personalisation,
(iii) decrease risk exposure by predicting credit or fraud risk,
(iv) increase process efficiency, (iv) retail crucial staff members, etc.
In this training, we focus on the key elements needed for managers to obtain succes through predictive analytics.
The workshop is designed as an interactive learning experience packed with best practices illustrated with real domain experience.
After the training, participants will be able to define and manage developments in Predictive Analytics.
Concretely, after the training, participants will be able to define a project in predictive analytics in detail & understand:
- a simple process useful for managing the development of predictive models
- the intuition of each step in the development process
- the underlying principles for predictive analytics
- the requirements and limitations of predictive analytics
- how to manage and increase usage of predictive analytics
– what is predictive analytics
– basic underlying principles for predictive analytics
– requirements for predictive analytics
– limitations of predictive analytics
– a reliable process for managing and building predictive models
Before the start of the first session, participants should attempt to define a concrete and relevant project within their organisation. At completion of the workshop, it is the aim that managers will be able to further define and understand the steps needed to manage this challenge to success.