Call to mind the ever present aura of prediction, a modern-day obsession with defining the undefinable. The world of academics and business-people have been so seduced by the notion of being able to pre-empt future actions. Accurate predictions have become a matter of survival for companies, by means of being proactive rather than reactive to individual customer shifts.
In favour of predictive analytics, the likelihood of being able to retain and appease current customers is greatly increased. Learning from customers who have been with you long enough to provide sufficient data allows loyalty to flourish.
In a small town, the little old lady in her shawls and misty voice knows the everyday workings of the individuals that seek her out. In the modern world, that lady could be the businesses of today that truly know their customers. Prediction then becomes a matter of understanding the humanity of the individual, rather than merely their monetary worth. Understanding a human being is an endless endeavor from which no definitive answer can be found. This is because as humans we grow and change and adapt to new surroundings, and make ever-harder decisions with age. Prediction then lies within the heart of knowing this change. While every human being lives a very unique collection of experiences and choices, often-times those decisions would be made roughly around the same time as others…
