In the age of convergence, customer churn is a concern for service providers, challenging most retention techniques...
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.
Analytics today is the buzzword in corporate corridors but it has taken a hard journey for the science of algorithms to make its mark as one beyond pure statistics, with differentiation, customization and advanced techniques defining its trajectory.
Language was invented by humans and not by computers. The complexity of any language with reference to a context is unfathomable. Here are some sample statements – “The bandage was wound around the wound”, “The farm was used to produce produce”, “We must polish the Polish furniture”, “The insurance was invalid for the invalid”, “Since there is no time like the present , he thought it was time to present the present”……..
Data has been existent since time immemorial and human brains have been processing and analyzing data from cradle to grave in varied forms – on finger tips, abacus, tally, excel sheets, computational algorithms et al. I presume other living things around us do analyze data as well – a leopard hunting a gazelle at high speeds, formation flight of migratory birds, the precision swoop of an eagle to grab its prey etc. Does anyone out there know what technologies or algorithms they use?