Ventana Research
MAR 28, 2012 9:24am ET

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Predictive Analytics: Special Skills Needed

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As a technology, predictive analytics has existed for years, but adoption has not been widespread among businesses.

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Comments (2)
Hello David -

Thanks for sharing the research results summary. Although I'm having trouble reconciling the 10th place finish and the "only one in eight" companies using predictive analytics with the higher percentages noted later in the summary, there are some nice complements to work that we see being done with predictive analytics.

I agree with the assessment about training. The leading organizations that we interact with our not "penny wise and pound foolish" when it comes to training. Those that invest in training are getting much more from their overall analytics investment.

I also think that this points to the need for a comprehensive information management approach that leverages the strengths of the various departments within an organization. Given the shortage of analysts, it's imperative that IT can go the extra yard to help drive the data preparation work required to support analytics. We have seen upwards of 80% of the analyst time spent on data prep, and once this is appropriately managed with a combination of tools, collaboration and process, we have been able to free up the analysts from the data prep work to focus on predictive analytics.

And if a comprehensive approach to information management is used, we have seen organizations be much more effective in the number of models that they use, the amount of data and variables that are factored into the analytic results, and the ability to monitor and update their models on a very frequent basis. They have been able to do this with the same number of analytic resources while expanding the number of projects that they manage.

Thanks again for your post.

Mark Troester IT/CIO Thought Leader & Strategist, SAS Twitter: @mtroester Blog: http://blogs.sas.com/content/datamanagement/

Posted by Mark T | Thursday, March 29 2012 at 3:58PM ET
Good article on predictive analytics and its importance. Read an informative whitepapers on BI and also attend a webinar @ " http://ibm.co/Hv89FB "
Posted by Gnanesh P | Wednesday, April 11 2012 at 12:57AM ET
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