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Predictive analysis in BI
By Hitesh Shah at 16 Nov 2009 - 18:25

Normally individual and collective wisdom / insights which takes care off latest trends outside system , historical data , seasonal fluctuations , other correlations in predicting events and data. At times such predictions need to be supplemented by statistical analytical tools especially in case of scientific researches and vast tera bytes of data.

One can understand the importance of such predictive analysis from free Oracle Spreadsheet Add-In for Predictive Analytics

In cases where very scientific accurate predictions , trends and correlation are required , there are some real statistical analytical tools available


However from 80-20 perspective, Excel too can help with some statistical predictive analytics .


Here are some real resources for the same.

http://phoenix.phys.clemson.edu/tutorials/excel/regression.html 

http://phoenix.phys.clemson.edu/tutorials/excel/stats.html 

http://phoenix.phys.clemson.edu/tutorials/excel/mathstats.html 

In case one wants to use Excel for predictive analysis and falls short of functionality in XL , there are lot of add-ins available from resources like http://www.xlstat.com/ .

Happy doing predictions with / without any tools ……

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