predictive analytics
Prediction Impact Bi-Annual Newsletter January, 2010

Predictive Analytics events and news in this edition:

Conference: Predictive Analytics World in Just Three Weeks - Feb 16-17 in San Francisco
On-Demand Webcast: Predictive Analytics - Hot Trends for 2010 - watch it now
Keynote: Kim Larsen on Net Lift Modeling - Feb 17 at PAW
Keynote: Andreas Weigend on the New Data Economy - Feb 16 at PAW
Article: Six Ways to Lower Costs with Predictive Analytics
Training Seminar: Predictive Analytics - April in NYC & May in San Jose
Online Course: Predictive Analytics Applied - On-demand any time
Services: Predictive Analytics Consultation and Resources


Conference: Predictive Analytics World in Just Three Weeks - Feb 16-17 in San Francisco

ImagePredictive Analytics World - February 16-17 in San Francisco - is bursting at the seams with compelling, detailed, revealing case studies from brand-named companies. The only pure-play, cross-vendor conference covering the commercial deployment of predictive analytics, PAW delivers an unprecedented lineup of speakers.

And the program is packed with top-notch pre- and post-conference workshops, as well as meetings of the Bay Area R and SAS Users Groups.

Click here for a complete overview of the conference agenda

See below for two example PAW keynote descriptions.

And, for a quick, meaty snapshot of PAW's agenda, as well as a review of the hottest work going on in predictive analytics, check out the recent webcast listed as the next item in this newsletter.

"This is the Analytical Conference for real analysts and I'm planning to recommend it to my colleagues."
     Stephen Yu, VP Database Strategies
     infoUSA National Account Division

"We left San Francisco with a long list of actionable items-can't wait to see what's on tap for next year!"
     Michael C. Foroobar
     Sr. Associate - Strategy, Reporting, and Analytics
     uShip.com

More testimony

Click here to register for PAW

What is predictive analytics? Click here for the Predictive Analytics Guide

Click here to sign up for informative event updates from PAW (in addition to this newsletter from PAW's co-producer, Prediction Impact)

Click here for more information about Predictive Analytics World


On-Demand Webcast: Predictive Analytics - Hot Trends for 2010

ImageArchived webcast from BetterManagement:
Predictive Analytics: Hot Trends for 2010

Available to view any time, on-demand: Access the webcast now

Businesses around the globe have deployed analytics for the business impact it delivers. Across many industries and departments, predictive analytics has been applied to address a vast range of business challenges. What's next?

Trend #1: Innovative applications
Trend #2: New data sources
Trend #3: New methodologies (e.g., uplift modeling - see below)

Most of this webinar is spent on the first: innovative applications. Data-driven models predict new things such as the reliability of hardware and corporate processes alike, and drive all kinds of organizational decisions, for the likes of air traffic management, military operations, mobile consumer applications, and startup investment strategy.

Click here for more information and to view the webinar


PAW Keynote: Kim Larsen on Net Lift Modeling - February 17

ImageAt next month's PAW, Kim Larsen of Charles Schwab will provide a keynote address on uplift modeling (a.k.a., net lift modeling) - a topic also discussed in the webcast listed above, within "Trend #3", and in the "Six Ways" article listed further below.

"Response Modeling is the Wrong Modeling: Maximize Impact With Net Lift Modeling"

Keynote Speaker: Kim Larsen of Charles Schwab
Predictive Analytics World, February 16-17, 2010

The true effectiveness of a marketing campaign isn't response rate! It's the incremental impact - that is, additional revenue directly attributable to the campaign that would not otherwise have been generated. Yet traditional targeting criteria are often designed to find clients that are interested in the product, but would have bought it whether or not they received a promotion. In such cases, the incremental impact is insignificant and the marketing dollars could have been spent elsewhere.

Net Lift Models are designed to maximize incremental impact by targeting the undecided clients that can be motivated by marketing. These "swing customers" are akin to the swing states of a presidential election; data miners could learn a lot from presidential campaigns.

Click here for the complete keynote description


PAW Keynote: Andreas Weigend on the New Data Economy - Feb 16

ImageKeynote Address:
"Predictive Power Part II: Advanced Analytics in the New Data Economy"


Keynote Speaker: Andreas Weigend, Ph.D., Former Chief Scientist, Amazon.com
Predictive Analytics World, February 16-17, 2010

Welcome to the New Data Economy, bringing new rules, reason and requirements to the commercial data miner. What's new? The relentless focus on value for the consumer, corresponding new revenue models, and ubiquitous data collection capabilities are here to stay, delivering a whole new world of opportunity and challenge for the practitioner of advanced analytics.

Mobile. The mobile device delivers new power in its omnipresent capacity to collect behavioral data - including device use, sound (voice quality), and movement (geo-location) - and, in turn, to influence behavior. iPhone apps such as RedLaser are "killer," putting the consumer first by letting the user scan barcodes and compare prices and alternatives on the go. Mobile application Boy Ahoy proves looks also can "kill," combining online dating with geolocation so you can "predictively score" with the guy standing right next to you.

Explicit data collection. No enterprise is more consumer-centric than the social network, which first and foremost incents users to explicitly volunteer personal information, and goes from there to facilitate interactive behavior - such as virtual gifting. Explicit data empowers analysis beyond the implicitly-conveyed consumer data businesses traditionally track. Boundaries between the private and the public have disappeared or been re-negotiated: At the key of Facebook's functionality is the distribution of "news" in mutually agreed "friendships."

Learn from the former Chief Scientist of Amazon.com how to position the deployment of predictive models within the New Data Economy in order to leverage these new opportunities, as well as other new elements such as virtual gifting, virtual currency, social data and cross-vendor data.

Click here for the complete keynote description

Click here for the complete conference agenda at-a-glance


Article: Six Ways to Lower Costs with Predictive Analytics

ImageSix Ways to Lower Costs with Predictive Analytics

by Eric Siegel, Ph.D.

Question: How does predictive analytics actively deliver increased returns? Answer: By driving operational decisions with predictive scores - one score assigned to each customer. In this way, an enterprise optimizes on what customers will do.

But, in tough times, our attention turns away from increasing returns, and towards decreasing costs. On top of boosting us up the hill, can predictive analytics pull us out of a hole? Heck, yes. Marketing more optimally means you can market less. Filtering high risk prospects means you will spend less. And, by retaining customers more efficiently, well, a customer saved is a customer earned - and one you need not acquire.

This article delivers six ways predictive analytics lowers costs without decreasing business, thus transforming your enterprise into a Lean, Mean Analytical Machine. Example brand-name case study results are provided along the way.

Click here for the complete article


Training: Predictive Analytics for Business, Marketing & Web - April in NYC & May in San Jose

ImageProgram: Predictive Analytics for Business, Marketing and Web
Dates: Two-day intensive sessions in 2010: April 22-23 in NYC and May 7-8 in San Jose

98% of attendees since Oct-08 rated instructor Excellent or Very Good (details)

**The official training program of Predictive Analytics World**

Bring this course on-site. Give your personnel a complete understanding of predictive analytics, on your premises and at your convenience.

About This Seminar
Business metrics do a great job summarizing the past. But if you want to predict how customers will respond in the future, there is one place to turn¸ - predictive analytics. By learning from your abundant historical data, predictive analytics provides the marketer something beyond standard business reports and sales forecasts: actionable predictions for each customer. These predictions encompass all channels, both online and off, foreseeing which customers will buy, click, respond, convert or cancel. If you predict it, you own it.

The customer predictions generated by predictive analytics deliver more relevant content to each customer, improving response rates, click rates, buying behavior, retention and overall profit. For online applications such as e-marketing and customer care recommendations, predictive analytics acts in real-time, dynamically selecting the ad, web content or cross-sell product each visitor is most likely to click on or respond to, according to that visitor's profile. This is AB selection, rather than just AB testing.

Predictive Analytics for Business, Marketing and Web is a concentrated training program that includes interactive breakout sessions and a brief hands-on exercise. In two days we cover:

  • The techniques, tips and pointers you need in order to run a successful predictive analytics and data mining initiative
  • How to strategically position and tactically deploy predictive analytics and data mining at your company
  • How to bridge the prevalent gap between technical understanding and practical use
  • How a predictive model works, how it's created and how much revenue it generates
  • Several detailed case studies that demonstrate predictive analytics in action and make the concepts concrete
  • Five Ways to Lower Costs with Predictive Analytics
"A very insightful and interesting seminar. I plan to put data mining and predictive analytics to work for us right away thanks to your ability to make this an approachable subject."
     Rob Ford
     Director Pricing
     Getty Images
     More testimony

Instructor: Eric Siegel, Ph.D.

No background in statistics or modeling is required. The only specific knowledge assumed for this training program is moderate experience with Microsoft Excel or equivalent.

Cross-Registration Special: Attendees earn $250 off the Predictive Analytics World Conference

Click here for course details, outline, venue information, registration, on-site options, and registration specials


ONLINE COURSE: Predictive Analytics Applied

Image100% of online participants rated instructor Excellent or Very Good (details)

Available on-demand, at your convenience - self-paced e-learning

Internationally-friendly online program

Predictive analytics is business intelligence technology that produces a predictive score for each customer or prospect. Each customer's predictive score informs actions to be taken with that customer¸ - business intelligence just doesn't get more actionable than that.

Predictive Analytics Applied is a self-paced online course of four concentrated sessions of 60 to 90 minutes each covering:

  • Applications: Business, marketing and web problems solved with predictive analytics
  • Core technology: How a predictive model works and how it's created
  • Evaluation: Measuring how well a predictive model works and how much revenue it generates
  • Process: Management and project leadership for predictive analytics
  • Illustrations: Live demos and detailed case studies
  • Hands-on: Get your hands dirty for 20 minutes with a revealing Excel-based exercise
Personalized support: Online training participants also receive 30 minutes of Q-and-A support with the instructor via telephone or email.

"It's just the best way to enter the amazing new world of Predictive Analytics! Compact, to the point but still not shallow. And I love the many strong examples."
     Ronny Roeller
     CTO
     Fredhopper
     The Netherlands
     More testimony

Each session of this self-paced e-learning program may be viewed at your convenience. Since no travel is required and the registration fee is one-third the fee of the in-person training, it provides an economical alternative for ramping up on predictive analytics.

View the free sneak preview video right now

Instructor: Eric Siegel, Ph.D.

Cross-Registration Special: Participants may apply half the registration fee towards Predictive Analytics World

Click here for more information and to register for immediate access


SERVICES: Predictive Analytics Consultation and Resources

Image


"With predictive analytics, each customer's predictive score informs what action to take with that customer. Business intelligence just doesn't get more actionable than that!"

- Eric Siegel, Ph.D., President

Based in San Francisco, Prediction Impact, Inc. (www.PredictionImpact.com) provides consulting services over a range of disciplines, including predictive analytics, data mining, business intelligence, and text mining. Prediction Impact consultants have gained a great deal of commercial experience, working with large banks, manufacturers, retail firms, and online businesses, and enabling these organizations to learn from their data. Most Prediction Impact consultants have earned advanced degrees in relevant fields, demonstrating adept familiarity with core predictive modeling methods.

For more information, contact Eric Siegel, Ph.D., President:

phone: (415) 683-1146
email: eric@predictionimpact.com

www.PredictionImpact.com

 
Conference
Predictive Analytics World
Predictive Analytics World

Book

PREDICTIVE ANALYTICS:
The Power to Predict Who Will Click, Buy, Lie, or Die

Predictive Analytics: The Power to Predict Who Will Click, Buy, Lie, or Die

Read this rich, entertaining primer by Predictive Analytics World founder Eric Siegel. More info

 
Online Training
Predictive analytics training - online

Predictive Analytics Applied

This online, on-demand workshop covers predictive analytics for business, marketing and web.

 
News
Predictive Analytics Times

Predictive Analytics Times

The predictive analytics professionals' premier resource: articles, videos, events, community.

subscribe to analytics newsletter
 
Analytics Information
Predictive Analytics Guide

Predictive Analytics Guide

Predictive Analytics reading, training options, conferences and other resources.