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Understanding how best to optimize existing platforms is a key starting point. Few, if any, companies are in the position to start from a completely green field position. IT and facilities decisions have already been made, and the investments have to be optimized wherever possible. Building up a non-invasive model of what is already there is a key starting point.

To get the most out of their predictive analytics implementation, sales and marketing departments should follow certain key steps:

Understanding the Business Need

It is crucial to identify the drivers behind the predictive analytics project in the early planning stages. Once an organization defines what new information it is trying to uncover, what new facts it wants to learn, or what business initiative it wants to enhance, it can build models and deploy results accordingly.

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