Predictive Data Analysis - Changing the course of your life

IBAT College News

~ Latest College News ~

Predictive Data Analysis - Changing the course of your life

Predictive Data Analysis - Changing the course of your life

When choosing the right degree for you, you need to consider three main factors: what you are passionate about, the fields that are more likely to give you good career prospects and, last but not least, the study location that is more likely to provide you with solid chances of landing your dream job upon graduation. If you are interested in marketing and finance, then you should consider pursuing a Diploma in Predictive Analytics.

data analytics image

Not only is this field growing fast, but the knowledge coming from it can be extremely useful when it comes to decision making and future forecasts on stock market fluctuations and loan defaults. If you are passionate about data analytics and you want to learn more about techniques that can increase business performance, then IBAT College Dublin is the right place for you to study.

What is predictive analysis?

The Diploma in Predictive Data Analytics offered by by IBAT College Dublin will teach you how to use predictive data analytics in different scenarios, as well as the ability to interpret statistical data. Upon completion, you will be able to apply your acquired knowledge to a variety of real-life situations and, should you want to, you will be in a better position to start your own business and build a data-driven culture within the organisation.

Why predictive analysis matters

Using historical data to predict future events is at the basis of predictive analysis. If something happened multiple times in the past, studies show that it is likely to happen again. Based on this information, businesses have trained themselves to make data-driven decisions in order to predict results and be successful. Predictive analytics can bring tangible benefits to the business environment, while eliminating uncertainty and improving insights within an organisation. Pursuing a Diploma in Predictive Analytics can help you make quicker, more accurate choices that are likely to positively impact the success of your business. Thanks to data analytics, you will be able to answer some of the following questions:

  • How much revenue will we earn over the next year?
  • Can a workplace injury be prevented?
  • Is this employee a good hire?
  • What does the future hold for the business?

Predictive analysis benefits many industries, in particular areas including:

  • Insurance
  • Healthcare
  • Manufacturing

Insurance

When we think of insurance companies, we inevitably think of data. Large amounts of raw data involve customer driven habits, patient health records, instances of burglary and other fraudulent claims that insurance companies work on protecting their clients from. It is key to learn how to analyse trends in order to carry out risk assessments and monitor data changes. Using predictive analytics allows insurance companies to help their clients find the type of insurance that works for them. Predictive analytics also enhance safety, especially in the automotive industry.

Healthcare

The main goal of the healthcare industry is to lower costs and improve the quality of care, which can be done thanks to data analysis. Healthcare data is constantly increasing and data warehouses are therefore necessary. Predictive analysis can help predict certain health and death risks in a number of patients, enhancing the quality of healthcare.

Manufacturing

As far as the manufacturing sector is concerned, not only does predictive analysis help increase the quality of the machines, which are equipped with data sensors and advanced technological devices, but it also helps enhance the quality of the final products, as well as forecasting customers’ demand and future sales. With the amount of data available constantly going up, the need for new ways to organise and understand data is vital.

Why study predictive analysis at IBAT College Dublin?

While Irish companies are currently striving to keep up with data analytics skills shortages, colleges and other higher education institutions are offering more and more courses on data analytics. Data mining has recently become an essential skill to have in order to be successful in running a business.

In particular, some of the key benefits sought by companies in this field are deeper insights as well as the ability to quickly react to a rapidly changing environment. Nowadays, businesses grow fast and move quickly. Therefore, it is essential for newly graduates to keep up with employers’ demands and make sure their critical thinking is sharp and their ability to make prompt decisions is on point.

IBAT College Dublin offers a course in Predictive Analytics so you can maximise your career potential in the data field while benefitting from Dublin’s culturally diverse environment.