Predictive modelling is used to forecast future outcomes. Businesses can use this information to prepare how to react or to make changes that will affect these outcomes. PL Insights uses three main types of predictive modelling:

Spreadsheets provide a powerful, transparent and easily shareable platform for modelling. PL Insights have developed a powerful modelling capability in Excel without the need to resort to macros, meaning that models can even be deployed in those organisations where the use of macros is barred.

Discrete event simulation (DES) models mimic the behaviour of a real life business processes. Model inputs can then be changed and the resultant impact on outcomes quantified. This means that proposed change can be tested prior to implementation to ensure that desired outcomes will be achieved. A key advantage of DES models over spreadsheet models is their ability to model process randomness and hence accurately predict service metrics such as call answer times and abandonment rates.

Forecasting  models use statistical techniques to extrapolate historical data forward to predict outcomes such as future demand for services. These models aid planning by ensuring that the right resources are in place when changes in demand occur. Forecasting models often provide  input to Spreadsheet and DES models to enable future demand scenarios to be tested.