Why Predictive Analytics Is A Game-Changer
Predictive Analytics taking center stage as more andd more organizations mature in BICC
FROM FORBES.COM
"Why Predictive Analytics Is A Game-Changer"
In a tough global economy, sloppy decision making and "going with your gut" can get you punished--swiftly. That's why leading companies are increasingly turning to a new management discipline called predictive analytics to compete and thrive. Rather than relying on intuition when pricing products, maintaining inventory or hiring talent, managers are using data, analysis and systematic reasoning to improve efficiency, reduce risk and increase profits.
In simple terms analytics means using quantitative methods to derive insights from data, and then drawing on those insights to shape business decisions and, ultimately, improve business performance. Thus predictive analytics is emerging as a game-changer. Instead of looking backward to analyze "what happened?" predictive analytics help executives answer "What's next?" and "What should we do about it?"Dave Rich is managing director at Accenture Analytics and Jeanne G. Harris is executive research fellow at Accenture Institute for High Performance .See Also:Making Data Work For YouWho Is In Charge Of Your Data?Wowd: Searching The DarknessData-Driven CompaniesFICO's Lead In Virtualization
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