Meaning ● Predictive Model Value, within the sphere of Small and Medium-sized Businesses, represents the tangible benefit derived from leveraging predictive analytics to inform strategic decisions. This involves quantifying the impact of a model on key business outcomes, such as increased sales, reduced operational costs, or improved customer retention, directly supporting SMB growth objectives. Furthermore, assessing this value often requires evaluating the model’s accuracy, reliability, and applicability in automating business processes, thereby increasing efficiency and scalability for the SMB. Evaluating the value of these models considers both immediate gains and the potential for long-term competitive advantage.
