Whitepaper

TDWI Best Practices Report | Predictive Analytics for Business Advantage

Author
David Stodder, Director of Research for Business Intelligence, TDWI

Although it has been around for decades, predictive analytics is a technology whose time has finally come. A variety of market forces have joined to make this possible, including an increase in computing power, a better understanding of the value of the technology, the rise of certain economic forces, and the advent of big data. Companies are looking to use the technology to predict trends and understand behavior for better business performance.

This TDWI Best Practices Report focuses on how organizations can and are using predictive analytics to derive business value. It provides in-depth survey analysis of current strategies and future trends for predictive analytics across both organizational and technical dimensions including organizational culture, infrastructure, data, and processes. It looks at the features and functionalities companies are using for predictive analytics and the infrastructure trends in this space. The report offers recommendations and best practices for successfully implementing predictive analytics in the organization.

TDWI Research finds a shift occurring in the predictive analytics user base. No longer is predictive analytics the realm of statisticians and mathematicians. There is a definite trend toward business analysts and other business users making use of this technology. Marketing and sales are big current users of predictive analytics and market analysts are making use of the technology. Therefore, the report also looks at the skills necessary to perform predictive analytics and how the technology can be utilized and operationalized across the organization. It explores cultural and business issues involved with making predictive analytics possible.

A unique feature of this report is its examination of the characteristics of companies that have actually measured either top-line or bottom-line impact with predictive analytics. In other words, it explores how those companies compare against those that haven’t measured value.

About The Author

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David Stodder

Director of Research for Business Intelligence, TDWI

David Stodder is Director of TDWI Research for Business Intelligence. As an analyst, writer, and researcher, he has provided thought leadership on key topics in BI, analytics, IT, and information management for over two decades. Previously, he headed up his own independent firm and served as vice president and research director with Ventana Research. He was the founding chief editor of Intelligent Enterprise, a major publication and media site dedicated to the BI and data warehousing community, and served as editorial director there for nine years. With TDWI Research, Stodder focuses on providing research-based insight and best practices for organizations implementing BI, analytics, performance management, and related technologies and methods.