Predictive Analysis

TDWI

 

 

 

 

The Data Warehouse Institute

Predictive Analysis (BI) is a term used to describe business data, the projection of that data into the future, and the effect that predictive data has on decision making within the business.

Predictive Analysis is related to Management Information (Management Information Systems, or MIS) and Executive Information (Executive Information Systems, or EIS). The terms MIS and EIS reference that fact that Business Data is generally exploited by Management-level staff.

Further, Predictive is analogous with Business Decision Support.

Predictive Analysis focusses on the behaviour of the Customer and on the behaviour of the Business.

Predictive Analysis can be undertaken with tools as common as Spreadsheets and Databases, but in more recent times, products have emerged that have had the effect of segmenting the market, and siloing practitioners.

This dissolution of the Predictive Analysis Practice into product silos can create difficulties when practitioners align themselves by product rather than expertise. Often, then, Best Practice can become clouded by adherence to product loyalty.

Current Predictive Analysis systems have begun to include elements of other systems, such as Geographical Information Systems (Mapping) and Big Data.

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