ANALY TIC S I N T H E C LO U D
experience were likely
to rate the value of each
scenario more highly.
Exposure to predictive
analytics in the cloud
breeds enthusiasm –
those who buy into the
promise of predictive Figure 4: Decision management transforms results.
analytics and get started
like the results and want
to do more. Therefore,
organizations that get
started quickly with predictive analytics in the
cloud have the opportunity to create differentiation from slower-moving Figure 5: Decision management on the rise.
competitors.
One last result deserves a special call out. Recent years
While a similar result was found in
have seen increased interest in decision 2011, the percentage reporting the use of
management or prescriptive analytics— this approach has risen significantly since
the embedding of predictive analytics 2011 as shown in Figure 5. Decision maninto operational decision-making sys- agement (i.e., prescriptive analytics, with
tems. The importance and value of this its systematic embedding of predictions
trend was shown clearly in the survey into automated decision-making systems)
results. More than 95 percent of survey is an effective approach to maximize
respondents who adopted this approach the transformative power of predictive
(tightly integrating predictive analytics analytics.
into operations) reported transformative
James Taylor (james@decisionmanagementsolutions.
or significant impact. Putting predictive
com) is CEO of Decision Management Solutions
analytics to work in operations is strong(http://www.decisionmanagementsolutions.com/).
This article summarizes the key results of the study.
ly correlated with the most impressive
For a full report, as well as a recording of a webinar
results as shown in Figure 4.
summary, click here. He is a member of INFORMS.
34
|
A N A LY T I C S - M A G A Z I N E . O R G
W W W. I N F O R M S . O R G