Predictive Analytics World London, November 27-28, 2012 (http://www.predictiveanalyticsworld.com/london/2012/)
Why am I drawn towards the agenda of this event? Simply because there is something fascinating about people, and an industry, whose central purpose is to predict future events!
Predictive Analytics can appear a little daunting at first. Mixing real world financial, natural and human factors together with statistical modelling, this is an industry that attracts practioners who fight their battles armed only with their favourite linear regression model and the fastest processors that their budgets will allow. A world where mathematics meets mainstream and creates a crystal ball?
This is an industry trying to create something that fascinates mankind…. a view into the future!
The old expression “…where there’s muck there’s brass” may now have a modern twist? How about “…where there’s brass there’s maths”? There are plenty of real life case studies packed into this 2 day conference and I get the sense that as models become more sophisticated and expectactions more realistic and “informed” there are some very serious applications where predictive analytics are starting to make a real difference.
Agencies such as the Danish Ministry of Taxation have been using advanced analytics as a tool in their tax compliance and collection efforts and a variety of banks have been developing models to attract and retain customers (as well as make more money from them…) however it’s not all about straight financial gain. Medway Youth Trust are making advances in fighting youth unemployment and it is in areas like this that I am sure analysts might find some of that elusive thing called “job satisfaction” because making a positive difference to quality of life helps make this all very “real”.
Perhaps you want to know where the highest pollution risk sewers might lie in Wales or how the Leicester Tigers Rugby team are trying to reduce injury rates? Maybe you would like to know the winner in the 3:15 at Ascot (unfortunately not on the agenda!)
It looks like a very full and varied agenda and perhaps underlying it all is what the organisers have hinted at is a “maturing” of the industry. Good indicators of this are the increasing integration with real world objectives, the long term adoption of predictive tools and analysis and rising skills shortages.
Predictive analysts are in many ways a little bit special because by definition they are ready, willing and brave enough to make that future call….and who can resist a look into the crystal ball?