Are You Ready for Personalized Predictive Analytics? Posted on : May 06 - 2015

This was a case of the movies catching up to the business world. At that time, predictive analytics had been applied to the continuing maintenance of everything from CAT scan machines produced by GE to elevators made by Otis. It enabled these firms to sell "up time" rather than just products, thanks to a number of sensors and the continuing remote surveillance of the performance of these products.

Predictive analysis applied to humans is now one of the hottest concepts to come along. It is being made possible by a system of customer loyalty programs, big data, and cloud computing that enables the continuous collection, storage, combination, and analysis of data about each of us from a number of disparate sources. Pretty exciting, no?

Some years ago, we heard the story about the GE maintenance engineer who, based on information from the firm's advanced monitoring and predictive analytics, visited one of his hospital accounts to repair a CAT scan machine that had not yet failed. As he was confronted by puzzled hospital administrators, the machine indeed stopped functioning. More recently, many of us have heard the story about the Target customer who was sent information about products of interest to pregnant women before she knew she was pregnant. Target's Big Data analysis of hers' and others' purchases, combined with related information, had placed her in a cohort with other women known to be pregnant. View more