External Validation
Creating Value with Predictive Insights
Analytical Models
Analytics Development
Drive Business Growth through Analytics
Elements
Big Data Trends
Innovation Processes
Data-Driven Predictive Insights Today 
Data Collection: Gathering data from various sources, including transactional databases, customer interactions, and
external datasets
...Validation: Testing the predictive model against a separate dataset to assess its accuracy
...
Creating Value with Predictive Insights Data Collection: Gathering relevant data from various sources, including transactional data, customer interactions, and
external data
...Validation: Testing the predictive model against a separate dataset to evaluate its accuracy
...
Analytical Models Data Collection The process of gathering relevant data from various sources, including internal databases and
external data providers
...Validation The process of testing the model against new data to ensure its accuracy and reliability
...
Analytics Development Collection: The first step in analytics development involves gathering data from various sources, including internal databases,
external datasets, and real-time data streams
...Validation: Test and validate models to ensure accuracy and reliability
...
Drive Business Growth through Analytics Data Collection Gathering relevant data from various sources, including internal databases and
external market research
...Data Quality: Poor quality data can lead to inaccurate insights, making it essential to prioritize data cleaning and
validation ...
Elements analytics include: Data Collection: The process of gathering data from various sources, including internal databases,
external datasets, and real-time data streams
...Cross-
validation techniques are often employed to ensure robustness
...
Big Data Trends Implementing data
validation rules at the point of entry
...Utilizing data marketplaces to facilitate access to
external datasets
...
Innovation Processes Testing and
Validation Prototypes are tested with target audiences to gather feedback and make necessary adjustments
...Open Innovation: A model that leverages
external ideas and technologies to enhance internal innovation capabilities
...
Developing Actionable Insights from Data Data Collection: Gathering relevant data from various sources, such as internal databases, customer interactions, and
external market research
...Ensure Data Quality: Implement processes for regular data cleaning and
validation ...
Understanding Predictive Analytics first step in predictive analytics is gathering relevant data from various sources, which may include internal databases,
external data providers, and real-time data feeds
...Validation: Models are validated using a separate dataset to ensure their predictive power and accuracy before being deployed
...
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