All posts in “predictive analytics”

Predictive analytics are improving the recruitment process.

How to Use Predictive Analytics Tools for HR

In recent years, human resource teams have begun leveraging predictive analytics (PA) to automate certain tasks while helping employees complete their work at a higher level. From improving recruitment to helping companies overcome bias, predictive analytics tools for HR are playing an integral role in creating more balanced work environments far and wide. Today, we’re taking a look at several key ways businesses are using PA to improve their HR operations.

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The role of mobile in retail will continue to expand in 2019 and 2020.

2019-2020 Retail Forecast: The Top 5 Tech Trends

The retail industry has been evolving at a rapid pace in recent years thanks to the exponential growth of technological advancements designed to aid retail businesses. There are plenty of exciting new developments in the retail sphere that became more prominent in 2018 and are expected to reach even more companies in 2019.

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Predictive analytics and machine learning are teaming up to make the world a more equitable place.

How Predictive Analytics and Machine Learning Neutralize Human Bias

We all have preconceived notions based on our life experiences, which can sometimes create a flawed sense of intuition. Such human bias can negatively impact our decisions, especially in professional settings such as a college admissions office or a job recruitment company.

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How can predictive analytics technology help prevent prescription drug overdose?

Combating Prescription Drug Overdose with Predictive Analytics

Over the last two decades, the U.S. has been plagued with high rates of prescription drug overdose. About 142 American citizens die every day from drug overdoses, many of which are caused by prescription medications obtained legally. Additionally, the number of opioids prescribed as of 2015 is three times as high as the number of prescriptions given out in 1999. Due to these staggering statistics, doctors and data scientists are working towards using predictive analytics to reduce the number of prescription drug overdoses.

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PA Supply Chain Inventory Management

Predictive Analytics: Reducing the Cost of Supply Chain and Inventory Management

With supply chains becoming larger and more complex, it is becoming more difficult to improve service through a reduced order-cycle time while enhancing inventory availability and reducing operating costs at the same time. Big data is revolutionizing the optimization of supply chain and inventory management by improving visibility. It is telling a compelling story that is making leaders listen. Companies that have adopted predictive analysis see up to a 50% reduction in non-performing inventory and a 25% reduction in inventory holding costs, thus freeing up working capital.

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Apparel companies are finding innovative uses for predictive analytics.

5 Ways Predictive Analytics is Improving the Apparel Retail Industry

Traditionally, the apparel retail industry has consisted of customers going into stores, trying on clothing, and then deciding whether or not to buy. However, now that people frequently buy apparel online, businesses are leveraging the power of predictive analytics (PA) to improve their customer conversion rates and reduce returns. Machine learning, predictive modeling and data analysis are the backbone of PA technology, which uses historical shopping data to help businesses make well-informed decisions.

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The travel industry is changing thanks to predictive analytics.

Predictive Analytics in the Travel Industry: How Airlines and Hotels Leverage PA

The travel industry is one of the most technologically advanced markets in the world, adopting big data and predictive analytics (PA) when the tech was still in its early days. The highly competitive nature of the industry has prompted airlines and hotels to develop apps that leverage this cutting-edge technology in order to satisfy and retain customers.

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Healthcare organizations are using predictive analytics technology for innovative solutions.

Predictive Analytics for Healthcare: How PA Technology is Used in the Health Sector

We live in an increasingly digitized world where developers are using data to help companies gain valuable insights regarding their business. This information can be leveraged to determine flaws in an organization’s structure and operations, churning out smart solutions that reduce costs and increase revenue. This is especially true in the healthcare industry, where predictive analytics (PA) plays a key role in bolstering a patient’s treatment plan and reducing out-of-pocket costs.

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