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Predictive Analytics: Our Approach

BRG’s econometrics and data science experts can help you make the right decisions to grow your business.



Formulate the question to address

    • What is the case for change? What are the baseline indicators/metrics and key issues responsible for the current state?
    • What opportunity could you take better advantage of, and what is it worth?
    • What are competitors doing that should be considered?
    • How are analytics solutions deployed right now in the organization?


Identify the universe of data

    • What data do you already have? 
    • Is the existing data in use or inactive?
    • What additional data do you suspect will be needed to address the problem, and where in the organization, or outside of it, can it be found/acquired?
    • Existing or needed, what form is the data in, and what form will it need to be in? Structured/unstructured? Centralized/dispersed? Clean/chaotic?


Explore the data with descriptive analytics and estimate econometric relationships

    • What historical patterns are present in your current data?
    • How can econometric models and data science help you better understand the issue at hand?
    • How does your business benchmark econometrically relative to your competitors?
    • How can your current financial metrics be leveraged?


Create and fine tune a predictive analytics approach

    • What patterns exist in the Big Data that add to the story?
    • How do those patterns specifically impact the objective?
    • Among the patterns, which are the strongest signals?
    • What predictive model should be deployed and validated?


Test the prediction through real-world deployment, analyze results, refine the model, and validate economic value

    • What is the most feasible way to apply the predictive model in test cases or samples to affirm and fine tune the algorithm?
    • What parameters of the test will suitably validate the model?
    • What opportunities/limitations exist in the model test versus full deployment?
    • How precise is the model, and how can the model be enhanced to achieve greater precision?


Make final recommendations for implementation with projection of economic impact

    • What is the projected economic impact of our recommendations?
    • How likely is it that the organization will realize the projected impact, under what conditions, and over what time period?
    • What is the change reality? Are our recommendations feasible to implement in the organization?
    • What change management issues need to be considered, if any?
    • What variables are likely to change that need to be isolated or monitored to maintain the model’s currency and value?