Uncovering “Unknown Unknowns” through the use of Predictive Analytics, Sentiment Analysis and Anomaly detection.
At DVC Consultants we have been helping our clients uncover “unknown unknowns”, since 1995.
Through the use of Generative AI this has become a lot easier.
Predictive analytics, sentiment analysis, and anomaly detection collectively aid in uncovering unknown unknowns by leveraging data patterns.
Predictive analytics anticipates future trends, sentiment analysis gauges opinions, and anomaly detection identifies deviations from the norm.
Together, they enhance the ability to identify hidden insights and potential risks in data, shedding light on the previously unknown aspects of a given scenario.
Let’s delve deeper into each component:
1. Predictive Analytics:
– Objective: Predictive analytics utilizes historical data and statistical algorithms to forecast future outcomes.
– Methodology: By analyzing patterns and trends, it helps in making informed predictions about potential future events.
– Application: Industries use predictive analytics for various purposes, such as predicting customer behaviour, financial market trends, and equipment failures.
2. Sentiment Analysis:
– Objective: Sentiment analysis, also known as opinion mining, evaluates and interprets subjective information from data, often text.
– Methodology: Natural Language Processing (NLP) techniques are employed to determine the sentiment (positive, negative, or neutral) expressed in textual data.
– Application: Businesses use sentiment analysis to understand customer opinions, monitor brand perception, and make data-driven decisions.
3. Anomaly Detection:
– Objective: Anomaly detection identifies unusual patterns or outliers in data that deviate from the norm.
– Methodology: Statistical methods, machine learning algorithms, and pattern recognition are employed to flag instances that differ significantly from the expected behaviour.
– Application: Anomaly detection is crucial in fraud detection, network security, and monitoring system health by identifying irregularities that may signify potential issues.
Integration for Unknown Unknowns:
– By combining predictive analytics, sentiment analysis, and anomaly detection, organizations can create a comprehensive approach to uncovering unknown unknowns.
– Predictive analytics helps anticipate future trends, while sentiment analysis provides insights into the often subtle and subjective aspects of data.
– Anomaly detection acts as a safeguard, pinpointing irregularities that may not align with predicted or expected patterns.
Example Scenarios:
– Imagine a financial institution using these tools to monitor transactions. Predictive analytics forecasts normal transaction patterns, sentiment analysis evaluates customer feedback, and anomaly detection raises alerts for unusual financial activity, collectively revealing potential risks or opportunities not previously recognized.
-Combining predictive analytics, sentiment analysis, and anomaly detection can provide valuable insights for predicting growth in commercial property use also. Analyzing historical data, sentiment around economic indicators, and detecting unusual patterns can help forecast demand, identify emerging trends, and mitigate potential risks in the commercial property market.
In summary, the synergy of predictive analytics, sentiment analysis, and anomaly detection enhances the capacity to unveil unknown unknowns by providing a multifaceted perspective on data, enabling organizations to proactively address challenges and capitalize on unforeseen opportunities.
DVC Consultants, is currently consulting to Agencio, to build A Global Orchestration Platform that will deliver all these Generative AI technologies to companies worldwide.
About the author
DVC Consultants: Exploring Unknown Unknowns since 1995. Quentin Anderson is Executive Chairman, DVC Consultants, CEO and Co-Founder of BankTotal, and Co-Founder of the social media platform Mifamilias.com. He has decades of experience in advising companies, and for 18 years was a CEO of brand development companies in the WPP group.
q.anderson@dvcconsultants.com
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