Smart Predict – Using Predictive Scenarios
A Predictive Scenario helps address a business question requiring predictions. It is a workspace, where you create and compare predictive models to find the best one to bring the best predictions to address the business question.
The following types of predictive scenarios are available. You choose the one that best fits your business question.
|Answers this type of business question...
|What is the likehood that a future event occurs? This event is observed at an
individual level (customer, asset, product, ...) and at a certain horizon
(in the year, before the end of week, in the month after a customer contact,
ExampleWho is likely to buy or not buy your new product? Which client is or isn't a candidate for churn?
|What could be the prediction of a business value, taking into account the context of
ExampleWhat will be the revenue generated by a product line, based on planned transport charges and tax duties?
|What are the future values of a business value over time, at a certain
ExampleHow much ice cream will I daily sell over the next 12 months? I have my historical daily sales information, but I'd like to be able to include other factors such as vacation months, and the seasons.
You can create one or several predictive models within a predictive scenario. Each predictive model produces intuitive visualizations of the results making it easy to interpret its findings. Once you have compared the key quality indicators for different models, you choose the one that provides the best answers to your business question, so you can apply this predictive model to new data sources for predictions.
To verify that Smart Predict is available in your SAP Analytics Cloud system, check out the SAP Note 2661746 .