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Tired of age old ways of predicting future??

Predictive Analytics is at your rescue!!

Predictive analytics helps to eliminate guesswork and apply scientific techniques that can easily mine across hundreds of factors and quickly highlight those that are most important or vital few to make proactive decisions for future. What is Predictive AnalyticsPractice of extracting information from existing data sets in order to determine patterns and predict future outcomes and trends.

ApplicationsCollating DataData MappingAutomationData FilteringMissing Data Treatment

ExcelSqlHadoopRegressionMarketing Mix ModelClustering

RSASSPSSTibco SpotfireInterpretation of outputReporting

DashboardsInfographicsMicrosoft Power Point

Process flowERP and Predictive AnalyticsIT boomIncrease in automationIncrease in the data being generated on enterprise servers.Businesses now need systems that can use this data to comprehensively analyse Analytics is the solution that all businesses aspire to gain competitive edge.This can be gained by integrating analytics solutions to ERP systems which are already owned by these businesses.The electricity supply companies that have today replaced analog meters with digital alternatives have millions of data pouring into their servers every month. These businesses now require systems that can use this data to comprehensively analyze the usage patterns, demand peaks and consumption fluctuations and arrive at smart decisions. All of this mandates the need for a system that handles big data effectively.8Integrating Predictive Data Analytics with ERPERPReal time DataHistorical DataAggregated DataBut lacks analysing capabilities to make data driven decisions.Predictive AnalyticsData analysisForecastingRisk AnalysisAll I need is sophisticated data systems to improve decision making process

ERP & Predictive Analytics Wal-MartThe ERP system of such a business holds real-time data which is then used to predict demand.

Wal-Marts supply chain team today analyses the sales pattern of iPhone to predict the demand for a new iPhone across the various Wal-Mart outlets across the country.

However whats missing here is a correlation between the iPhone and an associated product like a phone case. It is quite trivial to infer that an increase in the sale of iPhones will help in a commensurate increase in sale of iPhone cases. But this inference is not possible today using ERP systems alone since the iPhone and the iPhone case are two independent products and it requires a human to make the connection between the two.Business CaseIn one case they were able to predict a high school girl's pregnancy before her father did.a teenage girl in Minnesota, was pregnant, based on an arcane formula involving elevated rates of buying unscented lotion, mineral supplements, and cotton balls.

Assigning each customer with their own ID number or guest code, the company, like many others, collects and stores their data for these customized shopping suggestions.

Buying behaviour of each individual, shopping behaviour of others etc.

http://it.toolbox.com/blogs/inside-erp/using-predictive-analytics-to-make-business-sense-of-erp-62061

http://ieeexplore.ieee.org/xpl/login.jsp?tp=&arnumber=6933558&url=http%3A%2F%2Fieeexplore.ieee.org%2Fxpls%2Fabs_all.jsp%3Farnumber%3D6933558

http://www.enterpriseappstoday.com/erp/analytics-playing-greater-role-in-erp.html

http://www.sdcexec.com/article/10882090/deploy-business-specific-predictive-analytics-in-three-easy-steps

http://panorama-consulting.com/sap-named-a-leader-in-big-data-predictive-analytics-solutions-by-independent-research-firm/

http://www.forbes.com/sites/kashmirhill/2012/02/16/how-target-figured-out-a-teen-girl-was-pregnant-before-her-father-did/

http://smartdatacollective.com/anandsmartdata/174471/why-integrating-big-data-analytics-erp-future-retail

http://www.dailymail.co.uk/news/article-2102859/How-Target-knows-shoppers-pregnant--figured-teen-father-did.html#ixzz3UFjpK2Il

http://www.slate.com/blogs/how_not_to_be_wrong/2014/06/09/big_data_what_s_even_creepier_than_target_guessing_that_you_re_pregnant.html

Explain Predictive AnalyticsRole of Predictive Analytics in ERPOne adoption caseOne video and ArticleBenefits/Challenges/Pitfalls