San Ramon, Calif. — September 15, 2011 —The uncertainty of customer behavior and variability in availability and cost of goods and services along with the massive amount of under-utilized business data has peaked the business world’s interest in the use of predictive analytics. Organizations are looking to harness the use of volumes of data from transactions and the Internet to provide statistics, better forecasting and optimization to stay ahead of the curve and competition. Ventana Research is launching new benchmark research to help better understand the use and maturity of predictive analytics and to provide more clarity in educating and guiding new investments.
The adoption and deployment of predictive analytics is not without challenges. One is the inherent complexity of the analytics themselves. They employ sophisticated algorithms and computational models that often require knowledge of sampling techniques to avoid bias in the analyses. Developing such analytics requires a specific process including creating models, deploying and managing them. The technological advancements in simplifying predictive analytics has made it easier to use among business analysts and within business processes but measured adoption and success is not known. This new research from the leading business technology research and advisory services firm will examine the current state of predictive analytics and patterns in the adoption of new methods and technologies to better identify best practices and areas for improvement. The research will explore how companies are using predictive analytics to streamline and improve processes, reduce risk and uncertainty, and create or enhance sources of revenue.
“Our business analytics research found 80 percent of organizations felt that that applying predictive analytics is important or very important,” said Dave Menninger, VP and Research Director of Ventana Research. “This benchmark research will examine the extent in which organizations are utilizing these types of analytics to make improvements and provide a set of core best practices for education that can shorten the time and risk of investing into predictive analytics.”
Ventana Research provides qualified research participants with a complimentary report of the research findings as well as access to a free educational webinar on key findings from the Predictive Analytics benchmark research. To learn more about Predictive Analytics and take the benchmark, please visit http://www.ventanaresearch.com/pat.
About Ventana Research
Ventana Research is the most authoritative and respected benchmark business technology research and advisory services firm. We provide insight and expert guidance on mainstream and disruptive technologies through a unique set of research-based offerings including benchmark research and technology evaluation assessments, education workshops and our research and advisory services, Ventana OnDemand. Our unparalleled understanding of the role of technology in optimizing business processes and performance and our best practices guidance are rooted in our rigorous research-based benchmarking of people, processes, information and technology across business and IT functions in every industry. This benchmark research plus our market coverage and in-depth knowledge of hundreds of technology providers means we can deliver education and expertise to our clients to increase the value they derive from technology investments while reducing time, cost and risk. Our views and analyses are distributed daily through blogs and social media channels including Twitter, Facebook, LinkedIn and Business Week’s Business Exchange.
Media Contact:
Mendeil Bailey
Ventana Research
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