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Predictive Analytics
Project Proposal
Introduction
Predictive analytics has got to do with the extraction of information from the various data sets that are available at present with an aim of identifying specific patterns and predicting future trends as well as outcomes. It is important to note that predictive models do not necessarily determine the future. Instead, they are predictions or conjectures of future events. The relevance of predictive models cannot be overstated in business. This is more so the case given that they help in the analysis of historical trends as well as present data to not only highlight opportunities for a business enterprise, but also discern potential risks. In essence, predictive analytics could be seen as a consequence of big data. Today, organizations deem data as a source of competitive advantage. In a business setting, data could be inclusive of customer details, industry and market statistics, risk models, supplier information, employee info etc. Business entities could use data to not only inform strategy, but also assess the market for opportunities. Data sets could be complex and large – giving rise to the term big data.
Problem Statement
To remain relevant in the increasingly competitive business world,...
One such approach is the use of coupons. In essence, discount coupons are of great relevance in seeking to further enhance sales by guaranteeing financial discounts to persons who purchase various products or services. It is, however, important to note that a business entity cannot offer coupons to all customers. For instance, the customers who walk through our doors to make various purchases are in the millions. It would be a poor business decision to advance a 10% discount to all customers. Towards this end, there is need to conduct customer assessment so as to determine not only those who are most likely to make purchases, but also those to whom advancing a coupon is likely to optimize revenues. Predictive analytics could, therefore, be of significant utility on this front.
Research Question
Would advancing discount coupons to those most likely to buy our product increase redemption rates?
Some of the companies that have made use of predictive analytics to predict product choices for personalized recommendations include, but they are not limited to, Amazon, Netflix, Tesco, Target, and Pandora (Siegel, 2013). For instance, with regard to Tesco (UK), the company issues millions of coupons…
DESIGN FOR CHANGE PROPOSAL Re-hospitalization of older adults has become prevalent in most of the health facilities in Canada, posing financial challenges for the health system as well as the older adults. Besides the rise in healthcare expenses that emanate from this problem, readmissions lead to other health-related challenges. The health issues that are related to readmissions include functional disintegration and increased mortality cases. Concerning the cost of readmission, the Canadian
Attracting, developing and retaining leadership talent will define a new competitive battleground where the stakes include survival." (Petro and Petty, 2007) It is important to note that the stated challenges for the Human Resources Executive are to "establish leadership development as a core competency." (Petro and Petty, 2007) These authors report that an interview process was conducted and information derived from over 1,000 responses include those as follows: The identification and
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Clearly from this case and others there is a critical need for the development of safeguards on consumer data captured over the Internet, both of the opt-in (where the customer approves the data being captured) and the non-opt-in variety. An Explicit Requirement for Transparency and Ethical Use of Data Consumers have become increasingly concerned that their data, however acquired, will eventually be sold without their knowledge, eventually leading to the potential
This modularity of their applications will allow them to be more aggressive on pricing, and also tackle the second strategic weakness they have today, which is the gulf between what they say customer satisfaction is and what it actually is (Elgin, Sager, 2003). Redefining the implementation methodologies is critical for Siebel not only from a customer satisfaction perspective but also from a customer referenceability one as well. Third, Siebel
A1. Advantages and Disadvantages of a System All health information systems (HIS) come with great advantages and some disadvantages that must be taken in account to keep patients safe. A HIS is a system that captures, retains information, and helps manage it. A HIS can be used to send health information within an organization and outside of the organization. Several items within a healthcare organization have interoperability with the HIS such