5 Predictive Analytics Use Cases

Utica National Insurance Group is highlighted in this showcasing of several innovative uses for advanced analytics.

Photos courtesy of Shutterstock. This story originally appeared at Information Management.

Finding the Right Person for the Job

Dean Abbot, president of Abbot Analytics, detailed his experience consulting the U.S. Special Forces on data models to help assess new candidates. The models there could be transferred to a predictive framework for any employer looking for the best fit for an open position. Here was Abbot’s approach to the Special Forces gig and others: “The question is, ‘How much does each factor matter?’ You can find acceptable trade-offs (read: trainable) with a model that gives pertinent weight to questions more vital to intelligence and learning (or whatever is most vital for the position you're looking to fill). And a good target variable is the people who have stayed and succeeded (though that can take a while and not always give a huge pool of results), and a small, quick pool to avoid ‘too much noise.’”



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