MARTIN BUTLER
TITLE : EXECUTIVE VICE PRESIDENT COMPANY : VLERICK BUSINESS SCHOOL LOCATION : BELGIUM
Martin is a Professor of
Management in Digital Transformation at the Vlerick Business School , specialising in the relationship between digital capabilities and strategic intent . Beofre joining Vlerick and academia , Martin had a 15-year career in the IT industry , successfully leading numerous project teams .
Regression is the model that is used most often in statistical analysis when determining patterns in large datasets where the inputs and outputs have a linear relationship . It works by finding a formula that best fits the data , which can then be used to predict future outputs based on new inputs .
Lastly , neural networks have been developed to imitate the way in which the human brain works . This model can handle complex data relationships using artificial intelligence and pattern recognition . It is useful for tasks such as making predictions , dealing with large datasets , and finding relationships between inputs and outputs when no formula is known .
Predictive analytics in business compliance Today , many companies are investing in PA as part of their compliance strategy . By using data and algorithms to predict future outcomes , it can help companies to identify risks more accurately and efficiently , monitor customer and employee behaviour , and fulfil regulatory responsibilities .
Some of the applications of PA for compliance in business include banks implementing it to identify customers who may pose a liability , healthcare professionals detecting at-risk patients , and insurance companies spotting potential fraudulent clients .
140 December 2023