In the age of convergence, customer churn is a concern for service providers, challenging most retention techniques...
Patent trolling is an activity in which companies (also called non-practicing entities, or NPEs, because patent trolling is their only activity) buy up patents merely for the purposes of extracting licensing fees from companies using the patents’ technologies.
A lot of work is being done in the space of retail analytics. In fact it was nice to see an advertisement by the Big Blue that talks about how they found out that a bakery sold more sandwiches when it rained and how they used analytics to get to this conclusion and how such conclusions will lead to a smarter planet.
By definition Prediction refers to the possibility of an event happening. The possibility in most cases is measured in terms of percentage like the possibility of a customer churning is 80%. That means that there is a 20% chance that the customer might not churn.
There a slew of companies that are providing cloud based or SaaS based services in the areas of advanced analytics and more so as the most used jargon goes ‘predictive analytics’ (it sometimes amuses me how the concept of predictive analytics is abused by companies to get google’s attention but that is for another blog). It is interesting to read about so many companies providing cloud based predictive analytics solution in fields as diverse as insurance claim management to sales forecasting and customer churn.
While concluding a recent project for a fortune 500 company my colleague came across a very peculiar problem. The model was delivering very good results in the Quality environment but failed miserably when it moved to the production environment.