- Historical records contain a measurable outcome the business wants to estimate for new cases.
- A classification or numeric prediction could support prioritization, planning or another defined business use.
- The business needs a model that can help proactively address business problems and identify opportunities.
Advanced Analytics
Predictive Modeling
Build a stable and well-evaluated predictive model around a clearly defined measurable business outcome. This can help uncover factors related to sales, customers and the market. The range of business problems this field can address is wide and growing and using historical data to better understand current conditions and estimate future outcomes.
THE QUESTION THIS SERVICE HELPS ANSWERCan historical data help estimate a defined business outcome?
WHEN THIS SERVICE IS USEFUL
Use historical data to anticipate outcomes and act earlier.
Predictive modeling can help businesses identify risks and opportunities earlier, prioritize resources and better understand likely customer outcomes.
- Which measurable factors are associated with stronger future business outcomes?
- Which of our current customers are at the highest risk of leaving for a competitor next month?
- How much inventory of Product X do we need in our Boston warehouse next quarter to avoid stockouts without overpaying for storage?
- What is the statistical probability that this loan applicant will default on their payments over the next three years?
STANDARD SCOPE
What the fixed price covers
- One defined classification or regression target and one primary business use
- Preparation of relevant supplied variables and development/evaluation of suitable candidate models
- Appropriate validation and performance reporting
- Interpretation of model behavior, limitations and business usefulness
OUTSIDE STANDARD SCOPE
What should I do?
- Let's make a custom project
- Explain to us what you need and our analyst will support you in finding a solution
- You can also request for an online consultative meeting to discuss your project.
CUSTOM PROJECT
Need something different?
Contact Averidi before ordering when the project requires multiple targets, production deployment, real-time scoring, substantial data engineering, custom application development or an ongoing model-monitoring program.
Discuss your project ↗WHAT YOU'LL RECEIVE
Deliverables
- Predictive model for the agreed target
- Model performance evaluation
- Method and validation notes
- Interpretation of important factors where appropriate
- Business-use implications and limitations
WHO IT'S FOR
Suitable for
- Businesses with a specific predictive question
- Teams with suitable historical data
- Businesses with a clearly defined measurable prediction target and explanatory data
- Customers who need model evaluation and interpretation rather than a production software system
WHAT WE NEED
Inputs
- Historical business data containing or supporting the defined target outcome
- One clearly defined measurable prediction target
- Relevant explanatory variables available before the prediction point
- The business decision or action the prediction would support
HOW THE ANALYTICAL WORK IS APPROACHED
A method shaped around demystifying the data.
Predictive modeling helps businesses estimate outcomes before they happen. For example, historical data can help identify customers who may be at risk of churning, allowing the business to act before they leave. Understanding what is likely to happen can help a business act earlier and stay a step ahead.
01Define target and use
Connect the measurable outcome to one practical business use before selecting algorithms or features.
02Protect evaluation
Separate model fitting from evaluation in a way appropriate to the data so reported performance is not simply training fit.
03Interpret before deployment
Explain performance, important limitations and suitable use without implying that a model is a production application or a guaranteed decision system.
WORK INCLUDED WHERE RELEVANT TO THE AGREED SCOPE
- Define and validate the prediction target and intended business use
- Review and prepare relevant historical variables
- Develop and compare appropriate candidate approaches
- Evaluate model performance using suitable validation
- Interpret performance, important drivers and business limitations
HOW THE PROJECT MOVES
Review before commencement.
Ordering does not silently move straight into analysis. Averidi reviews the project first and keeps the confirmed timeline visible in the workspace.
01Order
Place the order and provide the project details.
02Data & payment
Add available data and complete any required one-time payment.
03Project review
We review the scope, information and available data.
04Clarify if needed
If something is unclear, we contact you before work begins.
05Commence
You receive a commencement notification and confirmed deadline.
06Analyze & deliver
We complete the work, quality checks and agreed deliverable.
CAPABILITIES
What can sit inside this service.
The work is focused on finding the right solution for the customer. Our analyst takes a deeper look at the data to identify what useful information can be obtained from it and advise the customer on the best way forward.
01Classification✓
02Regression✓
03Model evaluation✓
04Feature analysis✓
05Prediction interpretation✓
SERVICE FAQ
Questions to settle before ordering.
What data is needed for predictive modeling?+
The standard service requires historical business data with a clearly defined measurable target and relevant explanatory variables. Whether the data is sufficient depends on the prediction problem and is reviewed as part of the work.
Will Averidi guarantee a minimum model accuracy?+
No. Model performance depends on the signal, quality, coverage and representativeness of the available data. Evaluation results and limitations are reported rather than guaranteeing an accuracy level.
Does the $899 service include deployment or a prediction API?+
No. The standard service covers one modeling target, evaluation and analytical output. Production APIs, real-time scoring, applications and large-scale engineering are outside the standard scope.
NEXT STEP
Start with Predictive Modeling.
Review the scope, or use the Service Finder if you are still deciding which service fits the project.