Ventana Research Analyst Perspectives

Operationalize Predictive Analytics for Significant Business Impact

Posted by Ventana Research on Oct 24, 2015 5:00:29 PM

One of the key findings in our latest benchmark research into predictive analytics is that companies are incorporating predictive analytics into their operational systems more often than was the case three years ago. The research found that companies are less inclined to purchase stand-alone predictive analytics tools (29% vs 44% three years ago) and more inclined to purchase predictive analytics built into business intelligence systems (23% vs 20%), applications (12% vs 8%), databases (9% vs 7%) and middleware (9% vs 2%). This trend is not surprising since operationalizing predictive analytics – that is, building predictive analytics directly into business process workflows – improves companies’ ability to gain competitive advantage: those that deploy predictive analytics within business processes are more likely to say they gain competitive advantage and improve revenue through predictive analytics than those that don’t.

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Topics: Big Data, Microsoft, Predictive Analytics, SAS, Social Media, alteryx, advanced analytics, Customer Performance, Operational Performance, organizational transformation, Analytics, Business Analytics, Business Intelligence, Business Performance, Operational Intelligence, Oracle, Information Optimization, SPSS, Rapidminer

Business Case for Predictive Analytics is Simpler Than You Think

Posted by Ventana Research on Oct 16, 2015 10:22:01 PM

Our benchmark research into predictive analytics shows that lack of resources, including budget and skills, is the number-one business barrier to the effective deployment and use of predictive analytics; awareness – that is, an understanding of how to apply predictive analytics to business problems – is second. In order to secure resources and address awareness problems a business case needs to be created and communicated clearly wherever appropriate across the organization. A business case presents the reasoning for initiating a project or task. A compelling business case communicates the nature of the proposed project and the arguments, both quantified and unquantifiable, for its deployment.

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Topics: Big Data, Microsoft, Predictive Analytics, SAS, Social Media, alteryx, advanced analytics, Customer Performance, Operational Performance, organizational transformation, Analytics, Business Analytics, Business Intelligence, Operational Intelligence, Oracle, Information Optimization, SPSS, Rapidminer

New Generation of Data and Analytics in Cloud

Posted by Ventana Research on Sep 3, 2014 8:57:34 PM

It’s widely agreed that cloud computing is a major technology innovation. Many companies use cloud-based systems for specific business functions such as customer service, sales, marketing, finance and human resources. More generally, however, analytics and business intelligence (BI) have not migrated to the cloud as quickly. But now cloud-based data and analytics products are becoming more common. This trend is most popular among technology companies, small and midsize businesses, and departments in larger ones, but there are examples of large companies moving their entire BI environments to the cloud. Our research into big data analytics shows that more than one-fourth of analytics initiatives for companies of all sizes are cloud-based.

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Topics: Big Data, SaaS, Sales Performance, Social Media, Governance, Statistics, advanced analytics, cloud analytics, IT Performance, operational analytics, Analytics, Business Analytics, Business Intelligence, Business Performance, Cloud Computing, Customer & Contact Center, Data Integration, Financial Performance, Internet of Things, Location Intelligence, Operational Intelligence, Workforce Performance, Risk & Compliance (GRC), cloud business intelligence

The Next Generation of Predictive Analytics

Posted by Ventana Research on Aug 3, 2014 8:52:46 AM

Our benchmark research consistently shows that business analytics is the most significant technology trend in business today and acquiring effective predictive analytics is organizations’ top priority for analytics. It enables them to look forward rather than backward and, participate organizations reported, leads to competitive advantage and operational efficiencies.

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Topics: Big Data, Predictive Analytics, Sales Performance, Statistics, advanced analytics, IT Performance, operational analytics, Operational Performance, Business Analytics, Business Collaboration, Business Intelligence, Business Performance, Cloud Computing, Customer & Contact Center, Data Integration, Financial Performance, Governance, Risk & Compliance (GRC), Information Applications, Information Management, Location Intelligence, Operational Intelligence, Workforce Performance, python, r language, stats

Big Data Analytics Require Best Practices in Using Technology

Posted by Ventana Research on Apr 18, 2014 8:22:28 AM

Organizations should consider multiple aspects of deploying big data analytics. These include the type of analytics to be deployed, how the analytics will be deployed technologically and who must be involved both internally and externally to enable success. Our recent big data analytics benchmark research assesses each of these areas. How an organization views these deployment considerations may depend on the expected benefits of the big data analytics program and the particular business case to be made, which I discussed recently.

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Topics: Big Data, Predictive Analytics, Sales Performance, Social Media, Supply Chain Performance, advanced analytics, IT Performance, Operational Performance, Business Analytics, Business Collaboration, Business Intelligence, Business Performance, Cloud Computing, Customer & Contact Center, Financial Performance, Hadoop, Operational Intelligence, Workforce Performance