| 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  Predictive
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  Archived 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  At
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  Keynote 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  Six 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  Program: 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  100% 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 
"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 |
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