How SAS Helps in Predictive Analytics

Posted by Tech Data Solutions on August 28th, 2018

Predictive analytics is a branch of advanced analytics that uses data mining, statistics, algorithms, and techniques of machine learning, modeling, and artificial intelligence to anticipate future outcomes based on historical data. The goal here isn’t to just understand past activity but to use those insights to determine the best processes for the future.

Using predictive analytics dramatically increases efficiency of processes and reduces costs, because of which more and more people, especially from the IT sector are choosing to take up data science training in Pune

Though predictive analytics isn’t very new, it is only now that an increasing number of organizations are adopting this technology to enhance their competitive advantage and increase their bottom line. Growing volumes of data, faster and more affordable computer systems, user-friendly software, and a rather aggressive economic market are some causes of this technology being widely adopted now.

With software becoming interactive and easy-to-use, advanced analytics like predictive analytics are no longer the domain of only mathematicians and statisticians, and are being employed by business analysts too.

Building on competitive advantage and increasing their net profit are of utmost importance for businesses. Here predictive analytics is used for:

1. Fraud Detection

Various analytics methods are combined to improve pattern detection and safeguard from criminal behavior. With cybercrime on the rise, high-performance behavioral analytics are employed to inspect all activity on a network in real-time to uncover abnormalities that indicate duplicity, zero-day vulnerabilities, and advanced persistent threats.

2. Campaign Optimization

Customer responses, purchases, and opportunities for cross-selling can be obtained by using predictive analytics. Businesses can use predictive models to attract, retain, and increase their most profitable customers.

3. Operation Efficiency

Organizations must be able to keep track and foresee need for inventory and other resources. Predictive analytics models help them do this. Airlines often use predictive analytics to determine ticket prices. Hotels predict number of expected guests on a given day to maximize occupancy and increase revenue using this tool. Overall the use of predictive analytics enhances efficiency of all operations of an organization.

4. Risk Reduction

Buyer’s likelihood of defaulting during making purchases is assessed by their credit score. These credit scores are generated by predictive models that assimilate all data relevant to a person’s creditworthiness.

As you can see the merits of predictive analytics are undisputable. Implementing it for business, mathematics, or statistics can increase process efficiency and accuracy greatly. You can learn predictive analytics under advanced analytics as part of a Statistical Analysis Systems(SAS) course. Techdata is among the finest institutes for SAS training in Pune. We offer a range of courses where you can master SAS, Python, Big Data, and other subjects of data science.