The role of neural networks in predictive analytic is to provide predictive analytic a better system to identify,classify and predict events. Also it broaden the range of problem that predictive analytic can solve. Neural network is basically part of artificial intelligence system that is capable of finding and differentiating patterns. Usually the patterns are in speech and visual form unlike those input that are used by predictive analytic. Predictive analytic tend to use traditional statistical datas such as consumer information. In the case of Blue Cross Blue Shield of Tennesee,Fedex and University of Utah the roles of neural networks and predictive analytic vary one from another.
In Blue Cross,neural networks play the most important role in determining patient health pattern by reading patien's heart beats and blood pressure which can show the health care provide if something is going to happen to the patient.. If there is no neural networks,it is impossible for predictive analytic to do the same job as what neural networks do. Predictive analytic helps health care provide to match the health condition of a patient to their background such as their daily habit,diet,weight and gender to produce a reliable outcome ( prediction ). In Fedex, neural networks will be able to read the pattern of how likely will consumer use Fedex as their courier from the visit and shipping destination frequencies that would help Fedex to provide consumer with the low shipping cost.Fedex use predictive analytics to build a better CRM between consumer,suppliers and Fedex themselves by having call center,it will help customer service representative identify consumers with highest level of dissastifaction ,and take necessary steps to make them happy. In University of Utah case, predictive analytic is used to determine which alumni or how many alumni can afford to give donations to the university based on datas such as their current job positions, and incomes.It is also used to target the right group and prepare budget report wih help from neural networks.
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