| | August 20148CIOReview | | August 20148CIOReviewMindStream Analytics: The Answer to the Analytic Needs of a BusinessMore often than not, the facts that are needed to make lightning fast decisions are buried in volumes in your own or third party data that are available for your company. The good news is, there is a solution to this seemingly unsolvable predicament and it is termed as "Predictive Analytics". As with any new development in history, Predictive Analytics too faced slack when a few educated members from our modern world were convinced that it was voodoo mathematics or a branch of astrology or even palmistry. After some real world demonstrations, they were proved wrong. Today we know that this science deploys statistical techniques from modeling, machine learning and data mining that analyze present and historical facts to make predictions about future, or otherwise unknown, events. So in essence, Analytics is used effectively in various industries to unlock big data and deliver insights in areas such as financial process improvement, operational efficiency and customer retention.Hence Black Swans can be anticipated through Analytics. Alex Ladd, and his team of experts at MindStream Analytics understood this clearly and leveraged upon the new buzzword in the tech world immediately. Using this they soon came up with a solution to help their customers develop in them the ability to stay one-step ahead of the competition and that is it. From the word "go", they have been a fan favorite in the industry and have attracted the likes of many big names in the business services, consumer products, energy, healthcare, manufacturing and other sectors. The firm began its operations five years back at a time when cloud and mobility were in their nascent stages so the question arises as to what were the reasons for the company to choose to cater to the pain points involving predictive analytics. The Buzz about "Predictive Analytics"The answer lies in a monologue that Winston Churchill famously once said about politicians: "A politician must be able to predict what will happen tomorrow, next Cover StoryBy Joe Philip
< Page 7 | Page 9 >