Predictive analytics, data mining lead new analytics software charge
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According to survey respondents, predictive analytics, data mining and customer data analytics are the most common types of analytics technologies that their organizations planned to begin using over the course of the next year. More than one-third of companies with analytics tools or deployment plans – 38% – were already using data mining software, while another 40% said they planned to add it soon. The same percentage of respondents had plans to start using customer data analytics tools. A relatively small number of participating businesses – 16% – were using predictive analytics technology at the time of the survey. But 48% were looking to implement it, putting predictive analytics at the top of the analytics technology adoption list.
And predictive analytics could be the next big battleground for business intelligence (BI) vendors, according to industry analysts who noted that more and more BI and data warehousing software companies are working to incorporate predictive analytics technology into their core platforms. But there are still a number of predictive analytics obstacles that BI vendors need to overcome to enable widespread use of the technology, the analysts said. That includes better visualization support and simplified processes for building the predictive models that users run against the tools.
Predictive analytics and data mining resources: