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Leverage Venture Investments for Predictive Analytics and Reap Multiple Benefits!
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Gartner predicts that, ‘Predictive and prescriptive analytics will attract 40% of net new venture investment in the overall business intelligence and analytics market.’ Why the focus on predictive analytics? this is easy! Investing in predictive analytics benefits everyone in the organization, including business users and team members, data scientists, and the organization in general.
‘When an enterprise chooses an assistive predictive modeling solution, it can meet the needs of business users, IT and data scientists, and drive impactful results for the organization.’
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In this article, we review some of the many benefits of predictive analytics:
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normal profit
Bringing together data from across the enterprise to use for analytics ensures that your organization is considering all available information when making decisions. By analyzing historical data and using it to test theories and hypotheses, businesses can determine the best options and better understand the consequences before deciding on a direction, thereby avoiding missteps . Predictive analytics provides support for data-driven, fact-based decisions and enables insight, perspective and clarity for improved business agility and efficiency. Decisions are made on a more timely basis, problem solving is easier and businesses can avoid market rework and damaging missteps.
Business User / Citizen Data Scientist
Assisted Predictive Modeling with Augmented Data Science and Machine Learning Empowers business users without data science or analytical skills to apply predictive analytics to any use case using forecasting, regression, clustering, and other techniques with auto-recommendations and guidance so that suitable analytical techniques can be suggested. With self-serve predictive analytics tools, business users can take advantage of sophisticated predictive technologies with auto-recommendations to select the right type of predictive algorithm or technology for best results. Team members can bridge the data science skills gap so they don’t have to wait for IT or data scientists to help them generate reports or perform analysis. Instead, they can use predictive modeling to improve business agility and align processes, activities and tasks with business objectives and goals.
data scientist
Data scientists spend most of their time meeting requests from management and business users instead of focusing on strategic initiatives, where data analytics must be 100% accurate to ensure appropriate strategy. With sophisticated predictive analytics tools founded on the latest, most effective algorithms and analytical techniques, data scientists can spend less time coding and building queries and manually pulling data together to achieve their goals. Can spend less time sifting through systems and solutions. The ability to combine data science skills with simple, easy-to-use tools and sophisticated features and functionality will make your data scientists and business analysts more productive and effective. Data scientists can build and reuse analytical models and focus on strategic initiatives.
These are just a few of the many benefits of predictive analytics. When an enterprise chooses a helpful predictive modeling solution, it can meet the needs of business users, IT and data scientists, and drive impactful results for the organization.
‘Everyone in the organization benefits from investing in predictive analytics, including business users and team members, data scientists, and the organization in general.’
Find out how Smarten Assisted Predictive Modeling and Augmented Analytics products can help you with your business planning and forecasting success.
Assisted Predictive Modelling, Citizen Data Scientists, Predictive Analytics for Business Users, Predictive Analytics for Citizen Data Scientists, Predictive Analytics India, Predictive Modelling, Self-Serve Predictive Analytics
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