Predictive Analysis: An Overview

The value of predictive analytics increasingly takes hold in international organization. Delays are not just costly but also frequent; an analysis of more than 1,800 software projects revealed a 30% on-time completion time. On average, a project was behind around 25%of the original deadline. And while time in itself carries strategic value, the deployment of extra resources needed to deal with overrun costs can be direct. Research on average budget overrun experienced by factory-automation-software projects studied exceeded 10%. One in five projects had overruns exceeding 50%. Then there are the indirect costs. One of the main reasons for overruns appears to be a misunderstanding by managers

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