Predictive Analytics and Kautilya

Predictive Analytics in Kautilya : Determining the probable future outcome is need of every business. To answer the need Predictive Analytics are used. Predictive Analytics is a part of data mining which uses the data gathered from various sources to provide trends and probability.

Large amount of data with different variables like hypothesis testing , decision analytics genetic algorithms, neural nets , regression modeling decision trees , market basket analysis are used by predictive analytics to generate the most accurate prediction.

The base of predictive analytics is a predictor. A combination of predictor and trends are used to do predictive modeling where data is collected and is converted into statistical modeling based on which predictions are made. While there are many models which fit in different scenarios Linear Regression is generally the most acceptable algorithm to get trends.

To gain proper insights about data organizations use both statistical and analytical modeling. These insights help an organization to understand the behavior of people as distributors, buyers, sellers, customers etc.
Companies / organizations for making good strategic decisions like retentions, exploring new markets, new client acquisitions finding up selling and cross selling opportunities and in areas like security and fraud detections etc, use insights provided by multiple related predictive models. Predictive Analysis helps companies/organizations understand what-if analysis, what to do, when to do and how to do to not only increase productivity and maintain an effective supply chain but also to keep over an edge to their competitors and doing trend analysis.

Data Mining and Predictive Analytics

The core of data mining is Predictive Analysis. Data mining is more than extracting data. It is basically extracting out the predictive information from various Big Database and data warehouse. It is searching of data patterns stored in database also known as knowledge discovery. In order to achieve the desired result various statistical patterns and computational techniques are used. Data extraction is a technique of gathering large amount of data from a subjected data source and uploading them to a targeted database. Hence the major differentiating factor between the two is that the former looks for the desired patterns in the data.

Predictive Analytics in Kautilya Business Intelligence Solution

Predictive Analytics in Kautilya Business Intelligence Solution is all pervasive and can be used within any of the 3 dashboards; viz. User Dashboard, Data Visualization Storyboard and the NLP Pinboard. In case there is date wise data it automatically uses various attributes over past data to provide future trends using Linear Regression. However due to the sophisticated Weka engine in the backend and using old versions of reports to train and test, it can use complex algorithms using sophisticated processes like clustering to provide as accurate forecasting as possible legal. Of course Kautilya provides the best possible engine however the right person using Kautilya can ensure better accuracy of the predictions.

With Kautilya Business Intelligence Solutions features like Predictive Analysis helps organizations to make changes not only in their product line but in doing a complete detailed study of market analysis about what consumers want , what is the trend going on , which products , features to be introduced in the market there by making an effective use of all the resources and saving time and energy , costs and increasing productivity.

Comments are closed.