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Pitching Predictive Analytics to Executives

DataA recent Information Management article includes a great deal of practical advice for pitching predictive analytics to hesitant executives. But why, when predictive analytics can be such a boon to businesses, are CEOs slow to embrace it?

The greatest concerns many CEOs have about predictive analytics is that the model will be too costly and take too much time to develop. However, one could argue that a good predictive model would pay for itself, either in increased sales or in betterment of business operating procedures.

In order to warm executives up to the idea of incorporating predictive analytics, Information Management’s article suggests:

  • Make your pitch at the conceptual level
  • Estimate ROI and try to show how predictive analytics can compliment other projects and goals
  • Clearly present the model’s goal
  • Clearly present the risks
  • Assemble a quality modeling team

For additional advice see the article on Information Management.

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