Join Dr. Carlos as he explores whether analytics can predict who lies, what they buy, and even dies. What are companies predicting about me as a customer?
Here are just a few examples:
Microsoft helped develop technology that, based on GPS data, accurately predicts one’s location up to multiple years beforehand.
Target predicts customer pregnancy from shopping behavior, thus identifying prospects to contact with offers related to the needs of a newborn’s parents.
Tesco (UK) annually issues 100 million personalized coupons at grocery cash registers across 13 countries. Predictive analytics increased redemption rates by a factor of 3.6.
Netflix sponsored a $1 million competition to predict which movies you will like in order to improve movie recommendations.
One top-five U.S. health insurance company predicts the likelihood an elderly insurance policy holder will die within 18 months in order to trigger end-of-life counseling.
Con Edison predicts energy distribution cable failure, updating risk levels that are displayed on operators’ screens three times an hour in New York City.
ERIC SIEGEL, PhD, founder of Predictive Analytics World and Executive Editor of the Predictive Analytics Times, makes the how and why of predictive analytics understandable and captivating. Eric is a former Columbia University professor who used to sing educational songs to his students and a renowned speaker, educator, and leader in the field.