MyDataModels is thrilled to announce the release of the new feature into its flagship product Quaartz: live predict version 2.
Live Predict Feature:
In short, the live predict feature allows you to simulate what would happen if the values of your data were different from the ones you have collected. You can do it as many times as you want. In just a few seconds, in a few clicks, with immediate visualization of the results.
You know when you have a new idea? A new scheme you would like to explore? Try this scenario right away with live predict.
You are a digital marketing manager. You have collected the conversion rates of your last Facebook and LinkedIn campaigns. Would you like to get an idea of your conversion rates with a Facebook budget lowered by 10%? Live predict can answer.
You are a household goods store company that provides delivery and installation services. You would like to evaluate the consequences of increasing the prices of your services now that your brand is well known to the public. Would your customers run away from your shop? Would your sales drop by 50%? Live Predict provides you with an answer in figures.
You are administering a vaccine that requires two injections 60 days away from one another. You would like to know, in actual figures, what would happen if you administered the two injections 200 days apart instead of 60? Live predict can provide you with figures to answer this question in minutes.
Quaartz, the Machine Learning SaaS platform from MyDataModels, is an expert tool for making predictions out of small data (with a minimum of 100 lines in an excel or CSV file). This tool can identify in minutes the crucial insights hidden within your data. Quaartz generates in minutes a model that can predict your data’s future values after learning from a limited set of data. The tool finds out, among numerous data, the ones which have an impact on the prediction.
Live predict is a simulation tool that allows for ‘what if analysis.’ What if my marketing budget were 10% lower? What if the price of my services was 50% higher? What if the two shots of my vaccine were 200 days apart instead of 60? It empowers the user to vary one (or several) key data and see, graphically and in figures, the impact of this variation on the predicted value. Immunity to disease? Conversions? Sales?
How does it works?
Here is an example of the selling price of used cars.
Live predict provides you with a visual representation of the minimum and maximum prediction, here the used car price. The yellow surrounding the price represents the error margin.
The criteria which impact the used car selling price, according to Quaartz, are, in this example, the number of cylinders of the car and its weight.
To evaluate the impact of this variable on the predicted price, you can manually vary the number of cylinders’ value as in the example below.
In this example, when we manually increase the number of cylinders, the predicted price increases but not much.
However, by varying the vehicle’s weight, the predicted used car selling price increases a lot.
You can save this simulation:
And use it again later on.
You are excited about what you have found and want to share it with your team.
In a nutshell, the live predict feature allows simulating various scenarios and measuring their impact in minutes. You get instantaneous graphs illustrating the options explored.
Talk to us to create value out of your data.