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Predictive analytics approach was used at previous work at trading company where we use previous years sales and purchase records of crops as the frame of references to predict what could be possible returns of the company for this crop season. I have mentioned that there few patterns could be detected in prices of crops one is that when production of any particular is more than prices are relatively low, then at my previous it was estimated before that how much is our budget to buy any particular amount of products.
Hi Ravinder,
Very well explained. I would like to share an example of this approach. I was used to working at the company earlier. As the company used to provide solutions to the customers for their problem and queries related to the product. So hiring of new people was must and the new hiring or the hike in the salary was used on the turnover the company had the previous year. If there were losses than the new joining were put on hold or were hired on low wages and if there were profits than the hiring used to be on same scale with good amount of salary even to freshers so that the company could produce more effective results
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