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Predictive Modeling
Unlike traditional business intelligence efforts that revolve primarily
around data reporting, CMRC focuses on exploiting the value of predictive
modeling techniques.
Predictive modeling is a process that combines data and text mining,
advanced statistical methods, and formal reasoning to identify patterns and
associations within data for use as a mechanism to forecast the future
behavior of a similar activity.
With the help of a good predictive model, a business can identify which
customers are most likely to buy a product and when, forecast future sales
of a given product in similar demographic “hot spots” around the country,
or get an early indicator from their call center transactions of product
performance, just to name a few examples. The potential uses of predictive
modeling are virtually endless.
While it is not possible to guarantee the future, CMU-RC Business
Intelligence Services can use advanced predictive techniques to help you to
understand what is likely to happen, thereby allowing your organization to
better plan for what lies ahead.
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CMURC Research Committee Meeting, October 1, 11 a.m. - 5
p.m., Livonia, MI
CMURC BI Leadership Summit: October 2, 9 am to 4 pm, Livonia, MI
(more details soon)
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