Twelve Basic Predictive Analytics Techniques

Predictive analytics is a solution used by many businesses today to gain more value out of large amounts of raw data by applying techniques that are used to predict future behaviors within an organization, it’s customer base, it’s products and services. Predictive analytics encompasses a variety of techniques from data mining, stastics and game theory that analyze current and historical facts to make predictions about future events.

Predictive models examine patterns found in historical and transactional data to identify opportunities and risks. Predictive models capture relationships among many factors to allow assessment of risk or potential associated with a particular set of conditions, guiding decision making for candidate transactions.

There are some basic and more complex predictive analytics techniques. Three basic techniques include:

Data Profiling and Transformations
Sequential Pattern Analysis
Time Series Tracking.

Data profiling and transformations are functions that analyze row and column attributes and dependencies, change data formats, merge fields, aggregate records, and join rows and columns.

Sequential pattern analysis discovers relationships between rows of data. Sequential pattern analysis is used to identify frequently observed sequential occurrence of items across ordered transactions over time. Such a frequently observed sequential occurrence of items (called a sequential pattern) must satisfy a user-specified minimum support. Understanding long-term customer purchase behavior is an example of the sequential pattern analysis. Other examples include customer shopping sequences, click-stream sessions, and telephone calling patterns.

Time series tracking tracks metrics that represent key behaviors or business strategies. It is an ordered sequence of values of a variable at equally spaced time intervals. Time series analysis accounts for the fact that data points taken over time may have an internal structure (such as autocorrelation, trend or seasonal variation) that should be accounted for. Examples include patterning customer sales that indicate product satisfaction and buying habits, budgetary analysis, stock market analysis, census analysis, and workforce projections.

More advanced predictive analytics techniques include:

Time Series Forecasting
Data Profiling and Transformations
Bayesian Analytics
Regression
Classification
Dependency or Association Analysis
Simulation
Optimization

Time series forecasting predicts the future value of a measure based on past values. Time series forecasting uses a model to forecast future events based on known past events. Examples include stock prices and sales revenue.

Data profiling and transformation uses functions that analyze row and column attributes and dependencies, change data formats, merge fields, aggregate records, and join rows and columns.

Bayesian analytics capture the concepts used in probability forecasting. It is a statistical procedure which estimate parameters of an underlying distribution based on the observed distribution. An example is used in a court setting by an individual juror to coherently accumulate the evidence for and against the guilt of the defendant, and to see whether, in totality, it meets their threshold for ‘beyond a reasonable doubt’.

Regression analysis is a statistical tool for the investigation of relationships between variables. Usually, the investigator seeks to ascertain the causal effect of one variable upon another-the effect of a price increase upon demand, for example, or the effect of changes in the money supply upon the inflation rate.

Classification used attributes in data to assign an object to a predefined class or predict the value of a numeric variable of interest. Examples include credit risk analysis, likelihood to purchase. Examples include acquisition, cross-sell, attrition, credit scoring and collections.

Clustering or segmentation separates data into homogeneous subgroups based on attributes. Clustering assigns a set of observations into subsets (clusters) so that observations in the same cluster are similar. An example is customer demographic segmentation.

Dependency or association analysis describes significant associations between data items. An example is market basket analysis. Market basket analysis is a modeling technique based upon the theory that if you buy a certain group of items, you are more (or less) likely to buy another group of items.

Simulation models a system structure to estimate the impact of management decisions or changes. Simulation model behavior will change in each simulation according to the set of initial parameters assumed for the environment. Examples include inventory reorder policies, currency hedging, military training.

Optimization models a system structure in terms of constraints to find the best possible solution. Optimization models form part of a larger system which people use to help them make decisions. The user is able to influence the solutions which the model produces and reviews them before making a final decision as to what to do. Examples include scheduling of shift workers, routing of train cargo, and pricing airline seats.

About Victor Holman

Victor Holman is a business performance and growth strategy coach, consultant, international speaker, entrepreneur and creator of the Business Performance Portal. He has provided his expertise to over 50 government agencies worldwide and hundreds of corporations of all sizes. His goal is to help small businesses outperform their competition by applying business growth strategies and assessment tools that work for large, successful businesses.

He provides business consulting for small and large size organizations, business coaching, team performance workshops, and in-depth on-site business assessments for business owners trying to take their business to the next level. His highly acclaimed Insider’s Secrets Club delivers fast, simple, easy to implement strategies for growing your business fast!

You can access his FREE business assessment tools, business management kits, business training programs, videos, templates, and more at http://www.lifecycle-performance-pros.com

How To Drive Traffic To Your Site With Free Ezine Advertising

For the Internet Marketer in search of targeted free and low cost advertising, ezines are still an excellent resource for delivering targeted traffic web site traffic. Not to mention, ezine advertising is one of the oldest and widely used methods of Internet advertising still utilized today. Why? Because it works.

For those unfamiliar with ezines, they are basically free magazine subscriptions but composed online and delivered electronically to the readers inbox.

By implementing the following strategies, you can successfully obtain hundreds of dollars worth of ezine advertising on a continuous basis, and it’s absolutely free.

Before you begin any ezine advertising campaign, ensure you create a separate email address designated soley for the purpose of holding your ezine subscriptions – this will be a very important step to help you stay organized while tracking your ezine ads.

Be careful when using free email accounts. In the event your are not able to check your email for several days, there may be a chance your email inbox will become too full. Should your emails begin to bounce, your classified ads will not be published.

If you do not have access to a separate email account from your current internet service provider, and need to set one or more free email accounts, its best to select ones with large amounts of storage space, such as: Gmail.

To get started with your free ezine advertising campaign, visit Ezines-R-Us.
This is a free service you can use which will automatically subscribe you to several high quality ezines. Once you start receiving your welcome emails, instructions are typically provided to assist you in submitting your ad to each
individual ezine.

Several of these ezines offer free weekly classifieds to subscribers, so your next step is to browse through the ezines, while keeping an eye out for the directions provided as to how and where to submit your next free classified.

This is now an excellent time to start making reference to the ezines which offered quality content and perhaps valuable resources.

Each ezine will have slightly different specifications for the format of your classified ad, however, most use a standard 5 lines long @ 65 characters per line rule.

There are several good resources you can use to make sure each line is formatted correctly. Simply search for text editor and you’ll find a few good resources.

Now that you are submitting free classified ads, you can now use the information received via the ezines to obtain even more valuable free advertising such as banner ads, sponsor ads, solo advertising, and more. Watch for those ezines that offer contests for you to win more advertising.

In addition to using this opportunity to submit your ads, another great benefit is that you will sometimes find the publishers sending specials and discounted advertising rates straight to your inbox.

If you’re smart from the start, you will be tracking your campaigns to determine the effectiveness of your ad, and which ezines are performing the best. This will give you a real jump start when you want to order some paid ezine ads.

Subscribing to various ezines is an excellent business strategy for gaining ongoing free advertising, opportunities to win advertising, tweaking your ad copy, discovering which ezine subscribers are most responsive, and access to valuable discounted advertising offers.

For the new and experienced marketer alike, spending the time each day to browse the ezines will inevitably result in saving a lot of money in the long run.

While the initial process can be time consuming, the time you spend will be a worthy investment.

Grab the best SEO services today to expand your business

It depends a lot upon the optimization of the keywords for the success of the website in gaining mass popularity among viewers. Search Engine Optimization India has today been widely accepted for its best seo services across the world. If you own a business and are in a mood to develop it at a large fame, your prior search engine Optimization India help service should be effective. Ours seo services at SEO-Nest are the best local seo services which are available at affordable rates to you. Do not panic if you have been working with a SEO India service which has failed to let your online business popularity grow inspite of huge expenditure. Still, the chance is to give your business career a leap ahead with the most reliable SEO Company India at SEO-Nest. The search engine optimization business is a key tool to let your business expand widely. In the scenario today where competition for owning the best commercialization is growing day-by-day, it is important how you plan for your business strategy. An effective commercial plan is said to land when it is successful in its expansion at the cost of minimized investments. Thereafter, the business is said to be smart and effective. We at SEO-Nest, provide a total seo search Engine Optimization India service pack which is complete in itself to meet all the essential requirements for a growing business plan.

Our SEO services include various service packages which are affordable and according to your business data need. Each of the service pack categories optimizes the desired data effectively with important keyword targets which display the basic message of your site for the customers. As well is the optimization, more is the popularity and interest of the website among viewers. Being the best customer-friendly SEO Company India, our seo services most cost effective and provide local services as well. We have our company based in Kolkata with its outsourcing services spread wide across United States of America (USA) and United Kingdom (UK). We are not confined to a special sector search engine optimization; rather we also aim to provide our helpful services to both medium and small business industry sites. As a result, you can find our services comprising of link building and web design along with search engine optimization services. The link building service of ours includes strong link building, one way link building, reciprocal link building and three way link building. Through link building, we aim to expand the roots of internet marketing. g.

The basic advantage of the linking process is to facilitate the process of search engine optimization for a better ranking of keywords. Various linking strategies applied by us have led us to grow up a successful search engine marketing (SEM) service. If the link building process of your seo service is strong, your website gains a major priority in the list of the leading seo website rankings. Our search engine link delivery is 20-25 within a month which is suitable enough for a normal search engine. Our web designing service team is highly efficient and capable of building search engine friendly websites.

Grow Your Business In Real Sense With Effective Internet Marketing

Internet has changed the complete look of world of market and made it more globalised in many ways. Over the years, internet has gained the status of being one of the best platforms for advertising products and services. Internet marketing is said to be a new to trade and online marketing is the best manner to put this form of marketing for best utilization. Today, there are many internet marketing companies offering a range of services that can help in transition.

Today, there are so many marketing companies available offering a range of services that can help in establishing your business in online market. One can decide on a company by going through the list of services along with clients list. Lets take a look at the list of internet marketing services that are proved to be very helpful to achieve a steady growth in online business.

Pay per click services: It is quite important to study the nature of business and its website for planning for any online campaign. With this pay per click service, marketing companies can do landing page optimization, target customers, region, identify the competitors and services for offering the best strategy for marketing services. Comprehensive keyword research and optimization will help to get better search engine ranking. Pay per click services along with specific principles and techniques can help in getting online business prosperity.

Link building services: In order to get high ranking in all search engines, it is really very important that online marketing companies help in building some quality links. Link building plays an important role in effective establishment of online business. It has many related facts that need to be interpreted to provide the best result. It is a good idea to promote new ideas in business but it is equally important to look into the facts like one way link and link building timeline to help a business to stay ahead in online competition.

Search engine optimization: For helping any business and to reach to its targeted customers, your business must have an effective marketing strategy and this strategy will be backed by a proficient search engine optimization service. Use of various types of keywords and SEO tools will help businesses all across to attract a large amount of traffic and high sales as well. Attracting more clients and then going ahead within the world of growing competition is proved to be a proven effect of quality SEO services. The internet marketing companies are now offering their services in accordance with todays business requirements and thereby making it quite effective and affordable.

As the number of internet marketing companies is continuously increasing so the selection of the company should be made very carefully. A proper business strategy is responsible for taking online ventures to new heights. Acquaintances with all types of technologies and processes is not really possible for a regular computer user and thus this internet marketing services is said to be the best means to get success in online business. Perfect combination of link building, PPC service, SEO service can turn your business into an online success.

Business Strategist & Blue Ocean Strategy Expert

Can you think of a business that doesnt want to innovate and grow? The success and/or failure of an organization depend entirely upon the strategy formulation and the ability to execute that strategy. How do you decide upon a strategy?

Dr. Zunaira Munir (Founder and Managing Director of Strategize Blue) is a business strategist who focuses on innovative business growth strategies to help companies break out of competition and achieve profitable growth. With a client list that reads like a Who’s Who in Business, Dr. Munir addresses companies eager to grow and willing to innovate from organizations, large and small. Recent clients include Hewlett Packard, Coca Cola, T-Mobile, Center for Non-Profit Management, Ohio State University Medical Center, Technologico de Monterrey, American Advertising Federation, Banco Colombia, RJ Reynolds and California Chamber of Commerce to name a few.

Dr. Munirs specialized topic is Blue Ocean Strategy, a systematic approach to innovate and achieve profitable growth. It originates from the best selling book Blue Ocean Strategy (authored by Professors Kim and Mauborgne of INSEAD in 2005) that is known to have revolutionized business strategy worldwide.

Blue Ocean Strategy stresses businesses to make their competition irrelevant instead of continuously striving to beat it. As a senior member of the Global Blue Ocean Strategy Network, she works directly with Kim Chan and Renee Mauborgne.

Blue Ocean Strategy suggests that the traditional strategies are not sufficient to achieve or sustain profitable growth in the present day markets marked by cut-throat competition. Instead of striving to do better than the competitors for grabbing a bigger share of the market, it focuses on value innovating for creating uncontested market spaces where competition becomes irrelevant. It is about creating new wealth in the market instead of fighting over and distributing existing wealth in the market.

Additionally, whereas all other traditional approaches consider innovation to be a trial-and-error process that depends on an entrepreneurs creativity and risk-taking, Blue Ocean Strategy comes with a complete set of tools, frameworks and methodologies that make the innovation process systematic and replicable that anybody can learn and apply to achieve profitable growth. Challenging the traditional assumption that opportunities and risks always come together, Dr. Munir focuses on minimizing risks while maximizing opportunities to achieve business success.

The system is quite generalizable and scalable and has been applied for formulating national strategies; for achieving corporate success; for generating growth in small businesses as well as for an individuals success in career.

With a PhD in Innovation Management from Wuhan University of Technology in China and dynamic training and presenting experience in Asia, Europe, South America, as well as the U.S Dr. Munir continue to help companies develop concrete ideas and practical steps to create new market space

Brendan Murphy is the Marketing Manager for Strategize Blue http://www.strategizeblue.com, a Blue Ocean Strategy Training and Consulting company based in San Diego. He works under Dr. Zunaira Munir, the internationally exclaimed expert and keynote speaker on Blue Ocean Strategy.