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3.2 - Case Study: Applied Predictive Analytics Methods and Strategies

3.2 - Case Study: Applied Predictive Analytics Methods and Strategies

Q 1. How did Union Investment define the business problem?2. Who were the stakeholders and how were they involved in defining the business problem?3. How were the stakeholders involved with the finance industry and how did their level of expertise in the industry help determine future benefits?4. What factors were involved with defining the business problems?5. After reading the Union Investment case study, read the following blog in which 26 data analysis experts describe their opinions as to what they perceive to be the top business problem that can be solved using predictive analytics: http://www.ngdata.com/how-predictive-analytics-benefits-business/ (Links to an external site.)Links to an external site. o Do any of these expert opinions align with what Union Investment discovered with analyzing customer behavior?o Based on the expert opinions, what would you recommend for Union Investment moving forward?o Based on these expert opinions, what are some of the common pitfalls to avoid when determining a predictive analytics strategy?

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The problem of business is defined by the Union Investment through the present situation being explored to know where predicative analytics can be used in order for profitability to be boosted. It is understood by Union Investments that their base of customer is varied. This means that capability is required by it to give strategies and options of investments at an extensive range to individual investors of a wide range. It is wanted by Union Investments for analytics to be incorporated into their strategy of business in order for profitability to be boosted as there is variation in the objectives of each investor in a significant manner.