A future challenging means a broader range of options.
Organizations need to move forward, beyond the traditional quantitative reporting, guiding and driving performance using predictive approaches towards what seems as an impressive rise of the “machine driven” decision making systems.
With the new predictive analytics, organizations can have a powerful set of new resources to understand business and make better decisions.
In memory technologies and the use of big data will increase the potential of predictive analytics and will enable users to model, simulate and predict future performance.
In this perspective is mandatory to improve the collaboration between the BI workers and the business users to educate the second ones in how these new tools can improve their actions. It’s an opportunity for those organizations that can sort the signals from the big noise and make sense of patterns in the data.
The main idea is to approach all data (old and big) through experimentation, combining various information types to generate new insights from crm to demand forecast, from supply chain analytics to performance management, from social intelligence to sales planning.
Great! But all of these things have to be governed, demands are growing but budgets are not! Organizations must modernize their information structure to rethink the architecture and the system integration, instilling new capabilities in order to make best use of limited resources and to be ready to manage the impact of the IT “rising stars” as social, mobile, human/machine interaction.
All of us have been predicted by companies, governments, ect.ect. Their computers say, "I knew you were going to do that!" These organizations are seizing upon the power to predict whether you're going to click or buy. Your company have to do the same: predicting human behavior combats financial risk, fortifies customer relationships, downsizes waste and boosts sales.
Prediction is powered by only one resource: data. Accumulated in large part as the by-product of the enterprise systems, at the end of the day data is the residual part of all transactions. Surprise! This tons of bytes is a gold mine. Big data embodies an extraordinary wealth of experience from which to learn.
Predictive analytics unlocks the power of BI environments. These systems literally learn from data how to predict the future behavior of individuals. Perfect prediction is not possible, but putting probability on the future actions means at least reduce the risk.
A truly omnipresent science, predictive analytics affects everyone, every day. Although largely unseen, it drives millions of decisions, determining whom to call, mail, offer, meet.
Business intelligence just doesn't get more actionable than that. Predictive analytics optimizes marketing campaigns and website behavior to increase customer conversions and to decrease churn.