Predictive Analytics Benefits
Explore the benefits users and organizations realize through the adoption and implementation of Predictive Analytics. Includes financial impact, organizational benefits and much more.
| Knowing Beats Guessing: Analytics in the Public Sector |
| A power-packed look at the business impact of analytics including many functional and company-specific examples. Highly recommended. |
| Jeanne G. Harris, Accenture |
| Predictive Analytics White Paper |
| As part of a deep look into predictive analytics, this Resource highlights insurance industry uses and benefits of predictive analytics: "Marketing: Property-casualty insurers can use predictive analytics to analyze the purchasing patterns of insurance customers. This information can be used to increase the marketing function's hit ration and retention ration. Underwriting: Insurers can use predictive analytics to filter out applicants who do not meet a pre-determined model score. This type of screening can greatly increase an insurer's efficiency by reducing the employee hours it may have spent researching and analyzing an applicant who ultimately is not a desired insured. Claims: Insurers can use predictive analytics to help identify potentially fraudulent claims. It also can be used to score claims based on the likely size of the settlement, enabling an insurer to more efficiently allocate resources to higher priority claims." |
| Charles Nyce, American Institute for Chartered Property Casualty Underwritiers/Insurance Institute of America |
| Predictive Analytics Helps You Predict Customer Behavior |
| A brief look at the value of predictive analytics. From the Resource: "The three major benefits being derived include revenue generation, cost optimization and risk management." See the Resource for examples of all three. |
| Amitabh Bose, WNS Global Services |