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Creating and managing predictions
Address your customers' needs better by predicting customer behavior and business events with predictions. For example, you can determine the likelihood of a customer discontinuing a subscription (churn), or chances of successful case completion.
With Pega Platform, you can predict events in your business activity by creating predictions in Prediction Studio. Predictions are strategies driven by adaptive and predictive models.
To create a prediction, you answer several questions about what you want to predict. Based on your answers, Prediction Studio creates a self-learning adaptive model that is the basis of the prediction. You can then include the prediction in your decision strategy.
For example, you can create a prediction that calculates the probability of customer churn, and then add the prediction to a next-best-action strategy. The next-best-action strategy arbitrates several actions to retain the customer, and then selects the one that the customer is most likely to accept.
You can create predictions with or without historical data. Historical data contains the outcomes of previous customer interactions.
- Predictions without historical data
- Learn in real time based on incoming results of customer interactions.
- Predictions with historical data
- Learn based on the outcomes of previous and incoming customer interactions.
- Select the type of prediction that you want to create:
- To create a prediction without providing data on previous customer interactions, see Creating predictions without historical data.
- To create a prediction by providing data on previous customer interactions, see Creating predictions with historical data.
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