Use Predictive Analytics to Overcome Big Data Obstacles


Published on - Leverage predictive analytics solutions to ensure better business performance in the future, enable greater insights, and enhance your use of current data.

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Use Predictive Analytics to Overcome Big Data Obstacles

  1. 1. DISCOVER PREDICTIVE ANALYTICS POSSIBILITIES Explore the power of predictive analytics to gain competitive advantage
  2. 2. JUMP-START YOUR BUSINESS ENGINE Data is energy. With it, businesses can run faster and more efficiently by being able to reduce risks and better anticipate their own needs as well as those of their customers. Explore how predictive analytics can help you take advantage of not only the present but also the future: • Extend beyond reporting of what has happened to forecasting what is likely to happen • Extract the maximum value from both structured and unstructured data sources • Perform predictive analysis of vast volumes of data in real time • Provide self-service predictive analytics capabilities to a wide range of people 2
  3. 3. BIG DATA OFFERS BUSINESS OPPORTUNITY The exponential growth of data that modern businesses must deal with is becoming unmanageable. In fact, 92% of businesses in the United States and the UK say the volume of data they collect or have access to has increased in the past year.1 Tapping into Big Data can be a challenge. Top three Big Data challenges reported by U.S. and UK businesses:2 47% 37% Lack of resources or time for analysis 46% 34% Too much data 32% 17% Unstructured content U.S. UK 1 Loudhouse Consultancy, “Predicting the Future of Predictive Analytics,” 2013 2 Ibid For those companies that can leverage Big Data, the ability to predict future trends can lead to competitive advantage. 3
  4. 4. PREDICTIVE PROWESS IS FOR EVERYONE The benefits of predictive analytics used to be limited to data scientists and technical engineers, but not anymore. Advanced automated solutions are enabling a broad spectrum of users – ranging from decision makers to business analysts to data scientists – to change the way they look at the business and interact with applications and reports in real time. Average proportion of workforce directly using predictive analytics:3 3 Loudhouse Consultancy, “Predicting the Future of Predictive Analytics,” 2013 29%Currently using 47%Would like to use in the next five years 4
  5. 5. TO REAL-TIME BUSINESS AND BEYOND The ability to anticipate change or react to events in real time defines what it means to be an agile and adaptable organization. Predictive analytics enables businesses to make the most out of their data. Businesses share their top three benefits of predictive analytics:4 4 Loudhouse Consultancy, “Predicting the Future of Predictive Analytics,” 2013 58%Better business performance in the future 54%Greater insight into business dynamics 52%Enhanced use of current data 5
  6. 6. The vast majority (85%) of those using predictive analytics report that the technology has had a positive impact on their businesses.5 YOUR COMPETITIVE ADVANTAGE IS HIDING IN PLAIN SIGHT With the power of predictive analytics, you can unlock the potential of Big Data by enabling your organization to answer complex questions with blazing speed. A key finding for businesses using predictive analytics is their commitment to making data the responsibility of the entire organization. 5 Loudhouse Consultancy, “Predicting the Future of Predictive Analytics,” 2013 6
  7. 7. START PREDICTING YOUR BUSINESS POTENTIAL Read the report “Predicting the Future of Predictive Analytics” by Loudhouse Consultancy to learn more about how predictive analytics can help you align core lines of business with actionable insights to accurately forecast and drive measurable results. DOWNLOAD FREE CONTENT 7