Having created a solid, trusted data foundation, and knowing what has been going on through business intelligence, the next question most organizations want to know is why the numbers are what they are. The appropriate application of powerful analytics tools from SPSS can detect underlying patterns and relationships that drive performance and can provide new insights. Often, such insight ultimately determines the future success of an organization, as new knowledge derived from analytics can be used to change or improve strategies going forward, thus providing strong competitive advantage.
Statistical analysis and data mining can help understand the relationships between and among the available data. These relationships or patterns are what inform our understanding of our business. This type of analysis can be applied in a number of areas, such as: customer behavior, marketing effectiveness, cost containment efforts, fraud detection, establishing pricing and discounts, retaining or attracting customers, and many more.
Once a certain amount of knowledge is gained around the variables that impact performance the next logical question is what is likely to happen as we look ahead into next month, next quarter, or next year. This is where predictive modeling enters into the equation. Predictive modeling leverages the understanding of the relationships between and among the data and projects it forward to give us insights into what lies ahead. By leveraging predictive modeling we can pro-actively manage our business knowing what lies around the corner. This ability informs our decisions around things like cross-selling promotions, advertising spend, where to put new stores, which product lines to expand and which to draw down, risk reduction efforts, and others.
CCI consultants bring the right combination of business experience, analytical skills, and technical abilities to any advanced analytics project. Starting with a clear understanding of your business challenge we can recommend the right combination of tools, define the scope of the project, provide an estimate of the efforts and skills required, and actually design, develop and test the actual system for and with your team. Then we’ll train your team to ensure they are well equipped to carry the project forward into future phases, or build entirely new systems to overcome new challenges.