Predictive Analytics And Business Certainty

Business swims in a sea of data. No matter what line of work you’re in–publishing, healthcare, retail, food service, drug-dealing–your business operates in a vast, swirling matrix of information. How many people are interested in your product? When do they show most interest? How much of your product should you produce? Where, when, and how should you sell it?. Dennis Mortensen is the CEO and co-founder of Visual Revenue, a service that claims to do just that. “We created a predictive analytics platform that can assist editors in deciding what to promote on their home page,” he tells Fast Company. If you think about it, he says, a webpage is like a marketplace. “Every single position on that page, there’s a cost to that, and you should expect a proper return on investment.” He gives the example of an editor who thinks a story is strong, and showcases it prominently; the article subsequently gets higher traffic. “It looks like the decision you took was correct,” says Mortensen. “But that’s just a self-fulfilling prophecy,” he says–of course promoted stories fare better. The cost-benefit equation certainly looks increasingly favorable. “With the affordability we bring to the table, it’s not just big financial institutions with 20 billion dollars in annual sales who are able to take advantage,” says Pentaho’s Daley.

Reference : https://www.fastcompany.com/1783354/foresight-20-20-predictive-analytics-and-business-certainty