Predictive intelligence refers to the use of data, statistical algorithms, and machine learning techniques to identify patterns in data and make predictions about future events. This can involve predicting future outcomes based on historical data, or making recommendations based on patterns identified in data sets. Predictive intelligence is often used in a variety of fields, including business, finance, and healthcare, to make informed decisions and improve outcomes.
Main advantages of the ServiceNow Predictive Intelligence
There are many advantages of using predictive intelligence for a company – here are our top 5:
- Improved decision-making: Predictive intelligence can help companies make better, more informed decisions by providing insights and forecasts that are based on data and statistical analysis, rather than gut instincts or assumptions.
- Increased efficiency: By predicting future outcomes and trends, companies can allocate resources more effectively and optimise their operations, leading to increased efficiency and productivity.
- Competitive advantage: By using predictive intelligence to stay ahead of trends and anticipate customer needs, companies can gain a competitive edge over their rivals.
- Cost savings: Predictive intelligence can help companies identify cost-saving opportunities and reduce waste, leading to significant cost savings over time.
- Improved customer experiences: Predictive intelligence can be used to personalise products and services for individual customers, leading to improved customer satisfaction and loyalty.
A key to the successful implementation of the ServiceNow Predictive Intelligence
Here are our top 5 steps for succeeding with predictive intelligence from ServiceNow:
- Define your business problem or opportunity: Determine the specific problem or opportunity that you want to address with predictive analytics, and define the KPIs that you will use to measure success.
- Gather and clean your data: Collect the data that you will need for your predictive analytics, and clean and prepare it for analysis.
- Explore and analyse the data: Use ServiceNow’s predictive analytics tools to explore and analyse your data, looking for patterns and trends that can inform your predictions or recommendations.
- Build and validate predictive models: Use the insights and patterns that you have identified to build predictive models, and validate them using test data to ensure their accuracy.
- Monitor and adjust your models: Regularly monitor the performance of your predictive models, and make any necessary adjustments to improve their accuracy.