Predictive analytics has the potential to help businesses increase the impacts of their actions by creating indicators that represent future outcomes based on existing behavior. This process becomes more complicated when they have to apply predictive analytics to what we call big data environments. As yet only 13 percent of organizations are using predictive analytics according to our business analytics benchmark research, although 37 percent indicated that predictive capabilities are very important to their business analytics efforts. Opera Solutions is one of the larger vendors of dedicated predictive analytics software, having more than 650 employees, more than 200 of them data scientists, who help organizations turn their data into actionable intelligence. There is opportunity for the company, as predictive analytics and visualization of data are two capabilities not available in four out of every five organizations according to our big-data benchmark research. Beyond creating indicators, Opera Solutions’ applications can generate signals that present results not only visually but also in English sentences that integrate the analytics and provide guidance for determining next steps. This sophisticated capability can help improve business processes and refine decision-making and truly interact with the application.
Topics: Big Data, Business Analytics, Business Collaboration, Business Intelligence, Business Mobility, Business Performance, Business Technology, Cloud Computing, Information Applications, Information Management, Information Technology, IT Performance, Opera Solutions, Operational Intelligence, Predictive Analytics, CIO