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

Predictive Analytics Enters the Business Mainstream

Posted by Ventana Research on Jul 22, 2015 9:34:27 AM

Our recently released benchmark research into next-generation predictive analytics  shows that in this increasingly important area many organizations are moving forward in the dimensions of information and technology, but most are challenged to find people with the right skills and to align organizational processes to derive business value from predictive analytics.

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Topics: Big Data, Predictive Analytics, alteryx, Customer Performance, organizational transformation, Analytics, Business Analytics, Business Intelligence, Business Performance, Operational Intelligence