Assisted Predictive Modeling, Predictive Analytics. Those terms strike terror in the hearts of most business users, and that is understandable. These mysterious-sounding terms sound complicated and lead business users to imagine confounding, confusing algorithms, and endless strings of numbers.
Predictive analysis is very important to your organization. If you can dependably predict and forecast results, you can stay ahead of the competition, address changing customer needs, capitalize on opportunities and solve problems before they negatively impact your enterprise.
Oh, the confusion of advanced analytical terminology. Read a report, attend a conference and your head is swirling with terms like ‘assisted predictive modeling’, plug n’ play predictive analysis, smart visualization, augmented data discovery and augmented data preparation. Add to that, the sophisticated concepts of auto-suggest, auto-recommend, time series forecasting, causation and prediction and classification techniques and you may feel that you need a degree in data science to do your job.
