Deploying Predictive Analytics for Competitive Advantage

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Benchmark research sources:Predictive Analytics and Technology Innovation Research

Sponsored By:

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Predictive analytics is a relativelystraightforward idea: It is the use ofpast data to evaluate the likelihood offuture outcomes. Predictive analyticscan support multiple lines of business

and can improve effectiveness.

Deploying PredictiveAnalytics for

Competitive Advantage

Predictive analytics is veryimportant to organizations

68% of companies say thatpredictive analytics gives themcompetitive advantage and is importantin revenue related functions suchas forecasting (72%) andmarketing (70%).

Predictive analytics is increasingly anintegral part of business analytics,which is ranked the most important ofsix major technology innovationcategories with 39 percent oforganizations ranking it #1.

of organizations believe that predictive analytics capabilities are critical to satisfy the organization’s analytics needs.

Predictive analyticsrequire skill and data

The right tools are requiredfor predictive analytics

Accessing data is a top obstacle for predictive analyticsin 35% of organizations.

Of organizations do not have necessary training for predictive analytics. Lack of training is preventing deployment where only 38% use them in customer service.

Of organizations have experts that are responsible for success in predictive analytics. Find tools that can be used by broader groups of analysts and business users.

The top buying criterion forpredictive analytics is usability(70%). Look for tools withanalytic workflow that can useany information source.