The Need for Predictive Analytics in the Enterprise
Making the case for supplementing business intelligence processes with business analytics.
According to SAS, to survive organizations must supplement their business intelligence activities with business analytics. Reseller News reports that this was the theme set by SAS senior vice-president while speaking at the SAS Forum in Sydney recently. As written in the report, the advice is for the enterprise to think about balancing optimization and innovation, and also be willing to accept the inherent risks of innovating.
"'If we talk about innovation, we are talking about new ways of thinking. We're not talking about best practices, we talking about next practices.'
"Driving this is the explosion of data. Not only is it doubling every 18 months, new data sources have made their way into the mainstream. And while 95 percent of the data is unstructured, most enterprise level decision making is based on structured data from organizational databases."