David Menninger's Analyst Perspectives

Research Uncovers Keys to Using Predictive Analytics

Posted by David Menninger on Mar 27, 2012 11:56:10 AM

As a technology, predictive analytics has existed for years, but adoption has not been widespread among businesses. In our recent benchmark research on business analytics among more than 2,600 organizations, predictive analytics ranked only 10th among technologies they use to gene­rate analytics, and only one in eight of those companies use it. Predictive analytics has been costly to acquire, and while enterprises in a few vertical industries and specific lines of business have been willing to invest large sums in it, they constitute only a fraction of the organizations that could benefit from them. Ventana Research has just completed a benchmark re­search project to learn about how the organizations that have adopted predictive analytics are using it and to ac­quire real-world information about their levels of maturity, trends and best practices. In this post I want to share some of the key findings from our research.

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Topics: Data Scientist, Predictive Analytics, Sales Performance, Social Media, Supply Chain Performance, Analytics, Business Analytics, Business Intelligence, Customer & Contact Center, Workforce Performance, IT Performance Management (ITPM)