Public Risk Management

Today’s guest, Michelle Despres shares with us what predictive analytics is all about, its importance, why it is trending in organizations today, claims management and how predictive analytics tackles it. She also enlightens us on the benefits of predictive analytics as regards to claims management and how to measure its success. Predictive analytics is the branch of advanced analytics which makes predictions about unknown future events. It uses many techniques to analyze data point to make future predictions. Its importance cannot be overemphasized as workers complain and make a lot of compensation claims. The predictive analytics then makes organizations become proactive, forward-looking and anticipating outcomes and behaviors of employees/workers. It also allows resources to be allocated and helps management reduce the incidence of exploding claims as claims have become trendy and expensive. Predictive Analytics helps organizations with issues such as obesities, aging, injuries, etc. to their workers