Predicting with Data

‘Predicting with Data’?

DATA KINGDOM can make predictions about what will happen in your company. The princes and princesses will establish predictive models based on past data. With the help of these data models, patterns can be identified that may be applicable in the future. Additionally, DATA KINGDOM can filter out exceptional situations thanks to these patterns. For instance, the individual who bought out the entire stock is unlikely to return on the same day next year.

Your company won’t be the first to make predictions based on data

Previously, DATA KINGDOM developed a predictive dashboard for Lumission. Through this dashboard, Lumission gained insights into future sales, enabling them to account for factors such as seasonal patterns.

Which types of data can be used for predictions?

Predictive dashboards can be created using various types of data, as long as it is quantifiable. Words, however, cannot be predicted. It is essential, though, to have a sufficient amount of the relevant data to make accurate predictions. With too little data, predictions may become unrealistic.

 

Which steps are taken?

Exploring indicators

First, we will jointly examine which indicators we want to make predictions on.

Checking the quantity of data

After that we test whether there is enough usable historical data and determine which models we could use.

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Programming

Thereafter, the predictive models are programmed.

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Integrating predictive data into the dashboard

Finally, the predictive data is processed into the dashboard, and you can get started with it!

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