At PSOhub, we talk about predictive analysis a lot. For SaaS providers and users alike, predictive analysis is an important tool that leverages AI to help make platforms smarter and to provide more value. If you’re using software with predictive analysis, you’re already taking advantage of this advanced technology…
We’ll discuss what predictive analysis is and how it can add massive value to an all-in-one project management solution.
To start, let’s touch on what predictive analysis is and how it works. PSOhub is based in Europe, where we often use the term ‘predictive analysis’ to describe what is known perhaps more commonly by the global community (especially in the US) as predictive analytics. When it comes to describing the technology, predictive analysis and predictive analytics are unequivocally the same thing, the difference is just language semantics. Without further ado, here’s a solid definition of predictive analysis:
Predictive analysis (n.)
The use of data, algorithms, and machine learning to identify the likelihood of future outcomes based on historical data; also known as predictive analytics.
The purpose of predictive analysis is to calibrate the data from what has already happened to provide the best statistical assessment of what will happen in the future. By mining data, analyzing it, and putting that information into a statistical scenario, solutions that use predictive analysis can give users the ability to both safeguard against loss of profitability and identify future opportunities.
Businesses who use predictive analysis aka predictive analytics can leverage the technology to reap the following benefits:
Lots of industries use predictive analysis, from online retailers to digital marketers. But predictive analysis has a particularly powerful use case when it comes to managing projects. Within project management software, predictive analysis has specific benefits that can help managers and owners as well as team members to stay on track and stay profitable.
For example, project management software with predictive analysis can calculate the probability and the actual date of when/if your project will statistically go off rail. Pair that with an automated alert, and you’ll be able to address the issue(s) before they affect the bottom line.
Another easy example of how predictive analysis can help you manage your projects is under the umbrella of resource management. The solutions that offer predictive analysis can identify who, where, and when capacity problems might arise. Especially with long-term projects, you can stay in control and stay in the profitability zone on all sides.
Platforms like Asana are marketed as project management software but are essentially glorified task management solutions. Most of these will not provide the kind of in-depth predictive analysis that we’ve touched on in this article.
"The more integrations that are offered to platforms you already use, the more data that can then be mined and used to predict future outcomes more accurately."
PSOhub is an innovative leader in affordable, full-suite project management software that’s designed with predictive analysis and other self-driving features to make your project cycle more efficient and profitable. PSOhub uses predictive analysis to help you level-up on your:
To close-- Predictive analysis is all about accurately predicting future outcomes, so you can adjust accordingly in the present to remain profitable and efficient. If you need help managing your projects with a solution anyway, why not get 360 Degree Project Management software that has predictive analysis built-in? It’s an easy choice that could pay dividends in the future...