Entrepreneur Plus - Short White
For Subscribers

How to Make Predictive Analytics Work for Your BusinessIf used right, predictive analytics can take the guesswork out of understanding your customers so you can maximize sales opportunities.

ByMikal E. Belicove

This story appears in theJuly 2014issue of雷竞技手机版.Subscribe »

Q: How can I incorporate predictive analytics into my business?

A:Say I run a pizza shop. If I knew exactly how many cheese, pepperoni or veggie pizzas I was going to sell on a given shift, I could have those ingredients on hand, and maybe even make them ahead of time, so the customers get their pies fast. And if I knew that half my customers order a large soda with their pizza, I could offer them a pizza/soda special to keep them coming back.

The goal of predictive analytics is to take the guesswork out of understanding your customers so you can maximize every sales opportunity, according to Mike Leikin, manager of data and cloud operations foriSeatz, a New Orleans-based company that provides custom online travel and entertainment solutions. We asked Leikin for his take on the promise of data-driven crystal balls.

This is a subscriber-only article. Join Entrepreneur+today for access

Editor's Pick

Related Topics

Business News

Teen Stranded in Florida After American Airlines Cancels His Ticket for Planning to Leave the Airport at Layover

The phenomenon is known as "skiplagging," an attempt to find the lowest fares possible by only taking part in one leg of connecting flight.

Growing a Business

10 AI Tools That You Should Be Using In Your Business This Year

Here are 10 AI tools that you can be using today to help increase productivity and hopefully profits.

Money & Finance

Want to Become a Millionaire? Follow Warren Buffett's 4 Rules.

企业家是不能过度指雷竞技手机版望太多a company exit for their eventual 'win.' Do this instead.

Business News

Amazon Slashes Dozens of In-House Brands. Did Your Favorite Line Get Cut?

Amazon is trimming in-house brands in its private-label business, including going from 30 to three clothing labels.