To operate successfully and sustainably, today’s companies must be able to anticipate future events, forecast possible outcomes and make the decisions that translate into competitive advantage. And while the era of Big Data makes it easier than ever to access the analytics that can lead to transformative change, many companies are unable to identify the right information and use it effectively.
In our recent webinar, “Improving Corporate Performance: Techniques and Tools Using Predictive Business Analytics to Fuel Competitive Advantage,” Larry Maisel, president of DecisionVu Group, Inc., provided an overview of how the right analytics can help companies get ahead. Using predictive business analytics, by which companies harness the information from those vast stores of data, organizations can make the changes that lead to success. At a time when many find themselves drowning in data but starving for information, or focusing on the past instead of the future, the ability to leverage the right analytics to gain insight that drives business decisions and actions is essential.
Using easy-to-understand examples and drawing parallels to everyday situations, Maisel made a strong case for the importance of using the right data to predict outcomes. For instance, he explored how meteorologists collect data on a range of factors, such as humidity, wind, satellite photos, etc., as well as current conditions, to predict future weather events. Similarly, the company must be able to identify the right analytics that enable them to make accurate forecasts for their business.
To achieve an ideal state and leverage predictive business analytics appropriately, Maisel offers a comprehensive framework for implementing such a strategy. From defining guiding principles to developing the best methods for data capture and analysis, the webinar provides a step-by-step process for translating business analytics into corporate success.
Contact us to learn how your organization can benefit from predictive business analytics.
Next best reads for you
- News VMblog: 2023 Predictions for IT Expense Management
- On-demand Webinar How IT Should Adjust for the Next Normal