Agenda Big Data Predictive Analytics So what?
Big data definition Source: Big data analytics By Philip Russom TDWI best practices report, 4th Quarter 2011
Big data definition Source: Big data analytics By Philip Russom TDWI best practices report, 4th Quarter 2011 What’s the approximate total data volume that your organization manages only for analytics, both today and in three years?
Source: Big data analytics By Philip Russom TDWI best practices report, 4th Quarter 2011 What’s the approximate total data volume that your organization manages only for analytics, both today and in three years?
Source: Big data analytics By Philip Russom TDWI best practices report, 4th Quarter 2011
Paul Bachteal, SAS Technology Strategies for Big Data Analytics
What is behind Predictive analytics is the branch of data mining concerned with the prediction of future probabilities and trends. What the Predictive analytics is Business intelligence technology Produces a predictive model which has, in turn, been trained over your data Learning from the experience of your organization Uses data that has the company reported
What is good for Behavioral Segmentation, Loyalty analysis and Revenue prediction are just the beginning Bring to customer highly automated advanced analytics workflow Applications Churn Rate Product Portfolio Mix Bad Debt Reduction Fraud Detection Customer Life Cycle Cost of Sales and Marketing Methods Regression Classification Anomaly Detection Clustering Association Feature Selection and Extraction
Conference James Taylor Decision Management Solution Azhar Iqbal Wells Fargo Securities Eric Siegel, Ph.D. Predictive Analytics World Erick Brethenoux IBM Business Analytics Kelley Blue Book Kevin B. Pratt ZZAlpha LTD. Piyanka Jain Aryng Inc. Paul Bachteal SAS
5 Myths of PA Is Predictive Analytics (PA) new?? Is it a crystal ball?? Is it perfect?? Press a button solution?? Does it always work?? Piyanka Jain, Aryng In
When was the first application of Predictive Analytics? A. 1960’s – Advent of computing power B. 1930’s – Wall street crash C. 19th century – Birth of science as profession D. Before 15th century
Predictive Analytics in Cloud 5 areas of opportunity Pre-packaged cloud based solutions Cloud based predictive analytics for SaaS Cloud based Predictive analytics for on premise Predictive modeling with data in the cloud Elastic compute power James Taylor, Decision Management Solutions
Why? Predictive Analytics Automatically discover patterns in data Predict trends or likely future behavior Identify population segments Cloud Computing Computing resources delivered as a serviceMulti-tenancy and shared resourcesUsage pricing and location transparency
Commonly Used Methods other possible methods Clustering (K-means), PCA Factor Analysis, Time Series, Survival Analytics Neural Networks, Genetic Regression and Algorithm Logistic Regression Decision Tree Linear Regression
Where to compute it? 2 groups of software Framework based SW R Matlab Solution based SW Weka RapidMiner KNIME Mahout