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A Quick DataCracker Predictive Tree Tutorial

Welcome back to our tutorial video series. In this video, we’ll show you how to use one of DataCracker’s advanced data analysis tools – Predictive Modelling (or Predictive Tree).

A predictive tree, or decision tree, is a visual model that shows how some input data predicts the value of target data. For example, a predictive tree could show that age and gender can predict the value of attitude data.

A series of charts will be displayed in a tree format, showing how the chart values (the target data) change according to the input data.

Check out our blog post Implementing the 80:20 Rule with Predictive Modeling for more information on how you can use Predictive Modelling for your business.

Having more questions on how to dig deeper into your survey results? Visit our DataCracker Knowledge Base or leave your questions in the comments below.

 

Implementing the 80:20 Rule with Predictive Modeling

80:20 rule, predictive modelingIt has lots of names.  The 80:20 rule.  The pareto principle.  HVC.  Power Laws.  Zipf laws.  Whatever we call it, the idea is that around 20% of our potential customers will account for 80% of our upside.  While the numbers can move around a bit, this basic idea applies in all aspects of customer management.  It applies among your customers: a small proportion of your customers will provide most of your profit.  It also applies among your prospects: a small proportion of the prospects have the potential to deliver much more profit than the rest.

If the 80:20 rule describes your market, how can you leverage it?  Fortunately, it is pretty straightforward! [Read more…]