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Business Analytics: A 2013 HorizonWatching Trend Report

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The slides provide an overview on the Business Analytics trend for HorizonWatching Community members. Summary information about the trend is provided along with many links to additional resources. The ...

The slides provide an overview on the Business Analytics trend for HorizonWatching Community members. Summary information about the trend is provided along with many links to additional resources. The slides are meant to be read/studied and the links are there for you to continue your learning. You may want to view the slides in slideshow mode so you can easily follow the links.

Other HorizonWatching Trend Reports are available here on Slideshare. Follow my blog at www.billchamberlin.com for more information on emerging trends and technologies.

Note: This presentation represents my thoughts and ideas….not those of my employer. - Bill Chamberlin,

My LinkedIn Profile: : www.linkedin.com/in/whchamb

My Website: http://www.billchamberlin.com

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Business Analytics: A 2013 HorizonWatching Trend Report Presentation Transcript

  • 1. Contact: Bill Chamberlin, HorizonWatching Community LeaderJanuary 17, 2013Business AnalyticsA 2013 HorizonWatching Trend Report
  • 2. HorizonWatching CommunityAbout This Trend Report  Purpose: The slides provide an overview on the Analytics trend for HorizonWatching Community members  Content: Summary information about the Analytics trend is provided along with many links to additional resources. The slides are meant to be read/studied and the links are there for you to continue your learning. You may want to view the slides in slideshow mode so you can easily follow the links  Other HorizonWatching Trend Reports: Are announced/discussed on the HorizonWatching blog and slide decks are posted on the Horizonwatching channel on Slideshare  HorizonWatching Community: For more on the HorizonWatching community please see the appendix Note: This presentation represents my thoughts and ideas….not those of my employer. - Bill Chamberlin, whchamb@gmail.com2 January 17, 2013 Business Analytics: A 2013 HorizonWatching Trend Report © 2013 HorizonWatching Creative Commons Attribution License
  • 3. HorizonWatching CommunityAnalytics continues to be a very important long term trend andcapability that can help companies create a competitive advantage “International Data Corporation (IDC) forecasts that it (Business Analytics) will continue to grow at a 9.8% compound annual growth rate (CAGR) through 2016 to reach $50.7 billion” – IDC (link) “Houston energy technology companies foresee rapid growth of predictive analytics by oil and gas sector.” – Houston Business Journal (link) “Spending on marketing analytics to increase 60% in 3 years.” – Gartner (link) What is Smarter Analytics? – IBM Video “Identifying patterns, anticipating outcomes and proactively optimizing a response will be the basis for competition in the future. In the next 10 years, the companies that dont have analytics deeply embedded in their business model will most likely cease to exist.” – Gartner (link)3 January 17, 2013 Business Analytics: A 2013 HorizonWatching Trend Report © 2013 HorizonWatching Creative Commons Attribution License
  • 4. HorizonWatching CommunityTrends in Analytics for 20131. Customer Analytics: Personalized, cross-channel, customer-driven analytics will drive new focus on delivering individualized, personalized digital experiences2. Mobile Analytics. Increased use of mobile will drive requirement for analytics applied to mobile generated data3. Social and Textual Analytics. Moving beyond batch listening, Social Business Managers want to be able to analyze social conversations and influencer 2013 Predictions for Analytics by Tom Davenport, International Institute for networks in real time. Analytics4. Predictive Analytics: New innovative applications of advanced algorithms and modeling techniques will advance the science of predictive analytics.5. Real-Time Analytics. As decision makers get a taste for what can be done, they will want that information faster…..and eventually in real time “From now through 2020, a series of triggers will take analytics on a journey toward pervasiveness for all types of data at the point of decision.” – Gartner (link)4 January 17, 2013 Business Analytics: A 2013 HorizonWatching Trend Report © 2013 HorizonWatching Creative Commons Attribution License
  • 5. HorizonWatching CommunityTrends in Analytics for 2013 (cont.)6. Interest Grows in Data Visualization: Enterprises learn that managing and extracting insights from Big Data is not enough…you need to be able to display the insights for decision makers.7. Self- Service. Decision makers will increasingly want access to simple to use analytic tools that provide visualization rich output. Oh….and they Understand Key Trends in want that output on their tablet. Analytics - SAP8. Hadoop matures. Hadoop functionality improves and CIOs begin to consider it for mission critical applications Analytics in 20139. Data Scientists: There will be a rush to hire • Big Data skilled Big Data Scientists, often via services like • Predictive Kaggle. • Simulation • Advanced Modeling10. Education and Training: Big Data & Analytic • Self Service Apps Services firms will offer extensive training and • Social Analytics certification programs to try to help fill the • Data Scientist shortages of skilled Data Scientists. • Real-Time & in Context • Mobile Analytics • Mobile Dashboards • Impact of Cloud • Data Visualization5 January 17, 2013 Business Analytics: A 2013 HorizonWatching Trend Report © 2013 HorizonWatching Creative Commons Attribution License
  • 6. HorizonWatching CommunityWhat the Analysts are saying…“Advanced analytics will gain in prominence, which willincrease the number of analytic applications thatincorporate predictive mode” – IDC (link) “Given the variety of customer interaction data available now, firms want to experiment with next-best action analytics and social analytics” – Forrester (link) “CI professionals have not yet fully leveraged the strengths of predictive analytics customer Trends in Business Analytics – Colin White applications” – Forrester (link) “Advances in analytic technologies and business intelligence are allowing CIOs to go big, go fast, go deep, go cheap and go mobile with business data.” – CIO.com (link) “With the explosion of Facebook, Twitter and other social media, more companies want to analyze the data these sites generate.” – CIO.com (link)“Interactive and dynamic data visualization tools will grow in prevalence and influence.” -International Institute for Analytics (link)6 January 17, 2013 Business Analytics: A 2013 HorizonWatching Trend Report © 2013 HorizonWatching Creative Commons Attribution License
  • 7. HorizonWatching CommunityAnalytics – Trend OverviewDrivers• Growth in Big Data…both structured and unstructured “A growing emphasis on• Business Leaders know the data exists, but need tools to industry and businessdraw insights out of the data process–specific analytic• Continued advances in analytics algorithms & modeling applications is going to• Advances in open source platforms such as Apache Hadoop take hold over the& Linux forecast period.” – IDCChallenges (link)• Analytic tools tend to be too complex, requiring skilledresources.• Embedding analytics into an existing business appsinfrastructure• Generating insights out of complex metadata is not easy• Security, performance, scalability• Predictive models need to translate to action, rather thansimply being an intellectual exerciseImplications• The ability to pull value from data can lead to competitive differentiation• New processes, skills/training, and business leadership is required• Needed: Better dashboard tools, designed for business users and available on mobiledevices7 January 17, 2013 Business Analytics: A 2013 HorizonWatching Trend Report © 2013 HorizonWatching Creative Commons Attribution License
  • 8. HorizonWatching CommunitySuccessful implementation of analytics capabilities provide valueand can help companies create a competitive advantage How Organizations Use Analytics Analytics & Competitive Advantage Source: The New Intelligent Enterprise, a joint MIT Sloan Management Review and IBM Institute of Business Value analytics research partnership. Copyright © Massachusetts Institute of Technology 2011. “Leaders of the smartest organizations have moved past “overwhelmed” and are already capitalizing on increased information richness and analytics to gain measurable competitive advantage.” – MIT (link) IBM 2011 Tech Trends Report 8 January 17, 2013 Business Analytics: A 2013 HorizonWatching Trend Report © 2013 HorizonWatching Creative Commons Attribution License
  • 9. HorizonWatching CommunityAnalytics is a major trend that is impacting all business processesand transforming the way decisions are made Types of Analytics Source: Forrester Trends in Analytics From To Offline / Back office Embedded / Realtime Detailed Reports Dashboards Historical Predictive Structured Unstructured Behind Firewall Cloud / Mobile 9 January 17, 2013 Business Analytics: A 2013 HorizonWatching Trend Report © 2013 HorizonWatching Creative Commons Attribution License
  • 10. HorizonWatching CommunityOne of the biggest challenges today in Analytics is the lack ofskilled analytics resources “Finding the right analytics talent remains challenging” – Forrester (link) “One of the inhibitors of growth for standalone advanced analytics tools is the insufficient number of analysts with appropriate skills.” – IDC (link) “42% of respondents say they lack analytics resources.” – Forrester (link) “The current shortage of data scientists will continue as companies make do with small analytics teams” – International Institute for Analytics (link) “54% of respondents say managing and integrating data from multiple sources is the biggest inhibitor to performing more-advanced analytics” – Forrester (link)10 January 17, 2013 Business Analytics: A 2013 HorizonWatching Trend Report © 2013 HorizonWatching Creative Commons Attribution License
  • 11. HorizonWatching Community The rise of the Data Scientist in 2013 IBMs Anjul Bhambhri on What Is a Data Scientist? - Forbes “A data scientist is someone who can understand the desired business outcome, examine the data, and create hypotheses about how to establish predictive rules that can enable business outcomes such as increasing eCommerce upsell, keeping a production line running, or eliminating stock-outs” – Forrester (link) Data Scientist: The Sexiest Job of the 21st Century – Harvard Business Review11 January 17, 2013 Business Analytics: A 2013 HorizonWatching Trend Report © 2013 HorizonWatching Creative Commons Attribution License
  • 12. HorizonWatching CommunityAnalytics – Selected Analyst Websites and Resources • Forrester: • Research - Analytics • Blog Posts - Analytics Blog Posts “Unprecedented growth in information volume and complexity • Frost & Sullivan: Search for Analytics combined with increasing business • Gartner: demands mean leaders of business intelligence (BI) initiatives need new • Research - Analytics Research breakthrough approaches to • Blog Posts - Analytics Blog Posts succeed.” – Gartner (link) • Magic Quadrant for Business Intelligence Platforms • IDC: • Research - Analytics Research • Blog Posts - Analytics Blog Posts • International Institute for Analytics - http://iianalytics.com/12 January 17, 2013 Business Analytics: A 2013 HorizonWatching Trend Report © 2013 HorizonWatching Creative Commons Attribution License
  • 13. HorizonWatching CommunityAnalytics: Selected Twitter Accounts to Follow Mike Gualtieri - Forrester Analyst: Big Data, predictive analytics, & emerging technology http://twitter.com/mgualtieri Vincent Granville - Publisher of the AnalyticBridge newsletter. Chief Scientist, expert in data science, predictive modeling, text mining and business analytics. http://twitter.com/analyticbridge Doug Laney - Gartner VP Research, Analytics, Info Innovation & Big Data. http://twitter.com/doug_laney Leslie Ament - Hypatia SVP, Analyst, Customer Intelligence Researcher. Business value of CRM, BI, Analytics. http://twitter.com/Hypatia_LeslieA Hyoun Park – COO Cambervillechow and Nucleus Research, Principal Analyst for Analytics and Big Data. http://twitter.com/hyounpark Gregory Piatetsky - KDnuggets Editor, Analytics, Big Data, Data Mining, and Data Science consultant, KDD & SIGKDD co-founder. http://twitter.com/Kdnuggets Anil Batra - Analytics is my passion and work. Moving beyond web analytics and working on Multi-Channel Analytics with granular customer level data. http://twitter.com/anilbatra Dan Vesset - IDC VP, Business Analytics, Business Intelligence, Data Warehousing, Decision Mgmt, Predictive Analytics, Big Data, Content Analytics, http://twitter.com/danvesset13 January 17, 2013 Business Analytics: A 2013 HorizonWatching Trend Report © 2013 HorizonWatching Creative Commons Attribution License
  • 14. HorizonWatching CommunityAnalytics – Selected Media Websites and Resources • Businessweek: Search for Analytics, Business Analytics, Predictive Analytics “In their quest to extract insights from the massive amounts of data now available • CIO.com: Business Intelligence, from internal and external sources, many Search for Analytics companies are spending heavily on IT tools and hiring data scientists. Yet most are • ComputerWorld: Analytics struggling to achieve a worthwhile return. • eWeek: Analytics That’s because they treat their big data and analytics projects the same way they treat • Forbes: Data Driven, Search for all IT projects, not realizing that the two are Analytics completely different animals.” – Harvard • Harvard Business Review: Analytics Business Review (link) • InformationWeek: Big Data Analytics • InfoWorld: Big Data Analytics Deep Dive, Search for Analytics 30 Analytics Trends and Predictions Lists for 2013 - HorizonWatching • MIT Sloan Management Review: Data & Analytics • NY Times: Analytics14 January 17, 2013 Business Analytics: A 2013 HorizonWatching Trend Report © 2013 HorizonWatching Creative Commons Attribution License
  • 15. HorizonWatching CommunityAnalytics – Selected IT Vendor and Consultant Websites andResources • Accenture: Analytics • Booz Allen: Analytics • Deloitte: Analytics • Google: Analytics • HP: Information Management & Analytics • IBM: Analytics Resource List • Infosys: Search for Analytics • Microsoft: Big Data and Search for How Analytics is Transforming the C-Suite Analytics – IBM Video • Oracle: Advanced Analytics • SAP: Analytics • SAS: Analytics • Tata Consultancy Services: Analytics • Wipro: Analytics & Information Management15 January 17, 2013 Business Analytics: A 2013 HorizonWatching Trend Report © 2013 HorizonWatching Creative Commons Attribution License
  • 16. HorizonWatching CommunityAnalytics – Selected Social Sites and Searches • Google Blog Search: Analytics #Analytics – Twitter Hashtag Search • Technorati Blog Search: Blog posts tagged Analytics • Facebook Search: Analytics • Google+ Communities Search: Analytics • LinkedIn Group Search: Analytics • Pinterest Search: Analytics • Slideshare Search: Analytics • Twitter Hashtag Search: #Analytics • Tumblr Search: Analytics • YouTube: Analytics Playlists, Analytics Channels • Wikipedia: Analytics, Business Analytics, Predictive Analytics16 January 17, 2013 Business Analytics: A 2013 HorizonWatching Trend Report © 2013 HorizonWatching Creative Commons Attribution License
  • 17. HorizonWatching CommunityAnalytics – Selected IBM Resources and Links IBM White Paper:ibm.com links Analytics: The New Path to Value• Smarter Planet What is Smarter Analytics?• Software Business Analytics, IBM Smart Analytics System• Global Services Business Analytics and Optimization Services• Midsize Business Solutions Business Analytics• Government & Education Analytics Solution Center• Research Business Analytics and Mathematical Sciences Analytics: IBM Websites, Reports, White Papers and Social Sites17 January 17, 2013 Business Analytics: A 2013 HorizonWatching Trend Report © 2013 HorizonWatching Creative Commons Attribution License
  • 18. HorizonWatching CommunityAnalytics: IBM Analytics on Social Media Platforms Blog: IBM Smarter Analytics BlogSmarter Analytics• Facebook: IBM Smarter Analytics• Twitter: @IBMAnalytics• Twitter Hashtag #smarteranalytics• Blog: IBM Smarter Analytics Blog• Tumblr Blogs tagged smarter-analytics• YouTube: IBM Business Analytics• Google+ IBM Smarter Analytics• LinkedIn: Smarter AnalyticsOther Related IBM Analytics Accounts in Social Media• Twitter: @AnalyticsZone, @IBMCognos, @CognosInsight, @ibmbizanalytics, @IBMbigdata, @manyeyes,• Facebook: AnalyticsZone, Cognos, SPSS, ILOG,• Google+: AnalyticsZone, Cognos Insight• Community: AnalyticsZone• LinkedIn: Cognos, IBM ILOG Optimization & Supply Chain Solutions User Community, IBM Big Data• Blogs: Business Analytics, Big Data Hub18 January 17, 2013 Business Analytics: A 2013 HorizonWatching Trend Report © 2013 HorizonWatching Creative Commons Attribution License
  • 19. HorizonWatching CommunityAnalytics – Other Selected Websites, Reports and Resources• International Institute for Analytics - http://iianalytics.com/• Cloud Analytics Playbook, by Booz Allen Hamilton, published December 2012, 36 pages• Fast track to the future - The 2012 IBM Tech Trends Report, Research Report by The IBMCenter for Applied Insights, published December 2012, 12 pages• Analytics and the Cloud — the Future is Here, by Jane Griffin and Forrest Danson of DeloitteConsulting, published November 2012, 2 pages• Business Intelligence and Analytics: From Big Data to Big Impact, a MIS Quarterly BusinessIntelligence Research Report, published September 2012• Smarter Analytics: Making Better Decisions Faster, an IBM Redbook, published October2012, 28 pages• The rise and value of predictive analytics in enterprise decision making, a white paper by CGIGroup Inc., published September 2012, 6 pages• Analytics in Higher Education: Benefits, Barriers, Progress, and Recommendations, aresearch report by Educause Center for Applied Research, published August 2012, 31 pages• Big Data Analytics, a Peer Research report by Intel, published August 2012, 27 pages• Magic Quadrant for Business Intelligence Platforms, an online report from Gartner, publishedFebruary 6, 201219 January 17, 2013 Business Analytics: A 2013 HorizonWatching Trend Report © 2013 HorizonWatching Creative Commons Attribution License
  • 20. HorizonWatching CommunityAppendix: About The HorizonWatching Community  Launched 2006: About HorizonWatching  Blog: Horizonwatching – Thought Leadership Blog  Tumblr Quote Blog = HorizonWatching  Twitter = HorizonWatching  Slideshare = HorizonWatching (an external version of this deck will be posted here)  Facebook = HorizonWatching  LinkedIn Community = HorizonWatching20 January 17, 2013 Business Analytics: A 2013 HorizonWatching Trend Report © 2013 HorizonWatching Creative Commons Attribution License