The power of predictive analytics

Richard Holada, VP-BI/AA for IBM's Software Group suggests:

"The use of what's called "big data" is helping a variety of industries solve a wide variety of problems before they actually develop - a capability that is increasingly being deployed in the commercial truck world to get ahead of maintenance-related issues."

"Users of advanced analytics and predictive models are not just learning how to successfully make use of this access to better information, however, they are also demanding that this newest of business tools become more user friendly, engaging, flexible and interactive, according to Holada."
"He explained that in the “traditional” model, the unknowns of the business environment would be addressed via a process that began with sensing and responding to a need, problem or opportunity; then using business instincts and intuition to guide actions—supported by more and more back-office analysis over time."

"Predictive analytics changes all of that, noted Holada, with defining characteristics including: predicting versus sensing and acting in real time based upon facts, not intuition. In this “new” world, analytical expertise is also no longer the work of select back-room professionals; it is part of everybody’s job and it happens everywhere."

"This also includes the need for what he called more and better data “visualizations.” In the predictive analytical world, Holada said “visualizations” is a broad and relatively new term for graphic displays of often very complex business information, which may include animation, coaching tools to make it faster and easier to address particular business problems with the visualization, or the opportunity to collaborate with others."

#Logistics   #BusinessIntelligence   #AnticipateChange     #PredictiveAnalytics   #DecisionMaking   #DataVisualisation   #BigData     #Social  

Posted by +Dan Durrant 

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