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Why grantmakers should embrace the power of predictive analytics

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Predictive analytics is used to calculate your insurance rates. It even tells retailers how to design their stores. Whether you realize it or not, the uses for predictive analytics aren’t only expanding but becoming more and more ingrained in our daily lives. The world of grants management is no different.
What is Predictive Analytics? The term “predictive analytics” means different things to different people depending on the context. So what does it mean for grantmakers?

Basically, predictive analytics takes historical information and combines it with data science and math to comment on future events. For granters, that makes it the ideal tool to leverage in order to increase the impact of funding and improve outcomes. How? By using prediction and segmentation. PredictionForecastingoutcomes is an important part of what predictive analytics does. By looking at your past granting activities, it can help you make better-informed funding decisions in the future.

Let’s suppose you’re unsur…