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 delivers 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 online training course goes from fundamentals and best practices to hands-on discussion of predictive analytics models and their applications.
You will learn:
- Applications: Business, marketing and web problems solved with predictive analytics
- 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 what it looks like
- Evaluation: How well a predictive model works and how much revenue it generates
- Detailed case studies that demonstrate predictive analytics in action and make the concepts concrete
- Two tool demonstrations showing how predictive analytics really works
This course is geared towards:
- Managers. Project leaders, directors, CXOs, vice presidents, investors and decision makers of any kind involved with analytics, direct marketing or online marketing activities.
- Marketers. Personnel running or supporting direct marketing, response modeling, or online marketing who wish to improve response rates and increase campaign ROI for retention, up-sell and cross-sell.
- Technology experts. Analysts, data scientists, BI directors, developers, DBAs, data warehousing professionals, web analysts, and consultants who wish to extend their expertise to predictive analytics.
BI-04 Fundamentals of Predictive Analytics
BI-04-00 About the Course (10 min)|
BI-04-01 Introduction (56 min)
BI-04-02 Applications and Data Requirements (76 min)
- Introduction to Predictive Analytics
- How It Works?
- Decision Trees
- Response Modeling
BI-04-03 Predictive Modeling Methods (68 min)
- Attrition Modeling Examples
- Data Preparation
BI-04-04 Management and Deployment (63 min)
- More on Decision Trees
- Other Modeling Methods
- Methods Comparison
BI-04-05 Software Demonstrations (24 min)
- Project Management
- Killer Application: Content Selection
- Case Study: Targeting Ads
Click –here- to download a more detailed outline of this course.
This exam tests knowledge and understanding of concepts, principles, and terminology of predictive analytics.
You will be tested in these areas:
- Basic concepts and principles of predictive analytics
- Predictive analytics applications
- Predictive analytics data requirements
- Decision Trees and other predictive modeling methods
- Evaluating the effectiveness of predictive models
- Managing and deploying predictive modeling programs
Number of Questions: 25
Time Limit: 50 Minutes
Passing Score: 70%
Once you pass the exam, you will receive a Certificate of Education documenting that you have demonstrated mastery of the topic. Further, the exam counts towards Certified Information Management Professional (CIMP) designation in the Information Management Foundations track and the Business Intelligence & Analytics track.
We recommend that you take detailed notes and review the course material multiple times before taking this exam. Click here to learn more about CIMP exams.