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No one has the ability to capture and analyze data from the future. However, there is a way to predict the future using data from the past. It’s called predictive analytics, and organizations do it every day.

Has your company, for example, developed a customer lifetime value (CLTV) measure? That metric involves using predictive analytics to determine how much a customer will buy from the company over time. Do you have a service or product recommendation capability? That’s an analytical prediction of the product or service that your customer is most likely to buy next. Have you made a forecast of the upcoming quarter’s sales? Or used digital marketing models to determine what ad to place on what publisher’s site? All of these are forms of predictive analytics.

This course covers a few basics so you become more comfortable working with and communicating with others in your organization about the results and recommendations from predictive analytics.  

Learning Objectives

  • Explore what predictive analytics are
  • Explore how predictive analytics work on a theoretical basis
  • Discover the broad advantages and disadvantages of predictive analytics
  • Recognize how to explain in general terms how predictive analytics are used in major companies today
  • Identify areas where predictive analytics can help a company make better decisions
Last updated/reviewed: October 13, 2018

32 Reviews (206 ratings)Reviews

5
Member's Profile
This was a very good course for an introduction into predictive analytics. As always, the real world examples are extremely valuable into understanding the applicability. The example of Target knowing when their customers are pregnant is terrific.
5
Anonymous Author
This course was very interesting. It provides further insight into how to actually use BI. The analysis part is interesting as the business objective can guide it.
4
Member's Profile
Basic Introduction to Predictive Analytics - just as advertised. Did not include any demonstration of the techniques, but gave a good overview of the process.
4
Member's Profile
good background discussion. in depth to the best point at this stage in the learning process. really appreciated the pace at which the instructor proceeded.
4
Anonymous Author
Great use of examples and real world companies and how they have effectively used predictive analysis to benefit the company and the customers.
4
Anonymous Author
fine
4
Member's Profile
Very high level course. Would be nice to have a more detailed (down to the analytics level) course that highlights application and theory.
4
Anonymous Author
Again easy to listen to the videos, interesting, and relevant. I can see on a daily basis how companies are already using these analytics.
4
Member's Profile
1. Interesting subject 2. Concise Presentation 3. Presenter has good tone, pace, no accent issues 4. Must for marketing professionals
3
Member's Profile
This course wasn't very helpful for our business here at Grant Thornton - too esoteric and not enough real life examples.
5
Anonymous Author
Instructive course on predictive analysis and how it may be used, as well as the potential and power behind same.
4
Anonymous Author
meaningful and informative review. I thought the Target example was helpful. Perhaps, an invasion of privacy.
4
Member's Profile
Looking forward to classes with more details so that I can start applying this to my work environment
5
Anonymous Author
interesting to learn the uses of data analytics and how companies have used the predictive power.
4
Anonymous Author
Seeing how it is used by businesses is interesting. Would like to see more of "how" it is done.
5
Anonymous Author
This course is a good introduction. I need to expand on the topic to obtain additional skills.
4
Anonymous Author
This seems like a good high level overview. Looking for more substance in the other courses.
4
Anonymous Author
good overview for PA. I enjoyed the discussion and the level at which it was presented.
4
Anonymous Author
This course is a nice starting point for predictive analysis and how it can be used.
4
Anonymous Author
Very useful course. The instructor was able to apply this to real life examples.
3
Member's Profile
Good course but some of the questions on the exam could have been written better.
4
Member's Profile
Nice overview of the subject. More details are needed to implement though.
5
Anonymous Author
Very helpful overview of predictive analytics and the benefits.
5
Anonymous Author
This sessions was a good basic session on business forecasting.
5
Anonymous Author
A great overview of predictive analysis! Highly recommended.
4
Member's Profile
Thanks for putting the course together. It was very helpful.
5
Member's Profile
I liked how the class was broken up into different modules.
4
Anonymous Author
This course was easy to follow along with the instructor.
4
Member's Profile
The instructor did a good job of explaining the concepts
5
Anonymous Author
Presenter was well-spoken and provided good insight.
4
Anonymous Author
This training is a good intro to predictive analytics
5
Member's Profile
Good overview

Prerequisites

Course Complexity: Foundational

Viewers should be familiar with basic financial and accounting concepts.

In addition, viewers should be familiar with Big Data and Business Intelligence, or review my existing courses on the topic.

Education Provider Information

Company:
Illumeo, Inc., 75 East Santa Clara St., Suite 1215, San Jose, CA 95113
Contact:
For more information regarding this course, including complaint and cancellation policies, please contact our offices at (408) 400- 3993 or send an e-mail to .
Course Syllabus
INTRODUCTION AND OVERVIEW
  00:17Introduction to The Fundamentals of Predictive Analysis
  10:27What is Predictive Analysis?: Module 1
  11:31Building the Predictive Business Model: Module 2
  3:33Ongoing Possibilities: Module 3
  6:07Real Business Practices: Module 4
CONTINUOUS PLAY
  31:56Predictive Analytics – An Introduction to Business Forecasting Full Video
SUPPORTING MATERIALS
  PDFSlides: Predictive Analytics – An Introduction to Business Forecasting
  PDFPredictive Analytics – An Introduction to Business Forecasting Glossary/Index
REVIEW AND TEST
  quizREVIEW QUESTIONS
 examFINAL EXAM