Tag Archives: predictive analytics
Last fall, The New York Times resident numbers geek Nate Silver provided a lesson in predictive analytics for the whole world to see – crunching big data to predict, with almost pinpoint accuracy – the winner of the U.S. presidential election.
The success of this high-profile project thrust big data analytics into the limelight, but there are many, somewhat more mundane applications, but with even more unforeseen revelations. (more…)
There was an interesting story that surfaced recently. Indiana University researchers found that a pair of predictive modeling techniques can make significantly better decisions about patients’ treatments than can doctors acting alone. Indeed, they claim a better than 50 percent reduction in costs and more than 40 percent better patient outcomes. (See a story by Derrick Harris over at GigaOM for additional analysis, and I will also cover this subject in greater detail in a forthcoming column in TDWI’s “BI This Week.”) (more…)
Predictive analytics is entering the mainstream of business thought. In just the last couple of months, two major conferences have convened to explore the trends and trials of this emerging practice. The 2010 Predictive Analytics World conference was just held in San Francisco, generating plenty of buzz. Presentations focused on the convergence of social networking with predictive capabilities, and the World Research Group also held its Predictive Modeling Congress in Orlando at about the same time, focusing on predictive analytics in health care settings.
What’s behind the growing interest? (more…)