06 Jan '15, 1pm

The Occasional Pitfalls of Predictive #Analytics: #BigData #DataScience via @EBNonline

The Occasional Pitfalls of Predictive #Analytics: #BigData #DataScience via @EBNonline

Remember the days when a rear-view mirror was all we needed to make business decisions? Now, predictive analytics appears poised to turn hindsight into a relic of the past. Two Gartner analysts echo that sentiment, stating, "Few technology areas will have greater potential to improve the financial performance and position of a commercial global enterprise than predictive analytics." Executives are eager to jump on the bandwagon too. Although only 13% of 250 executives surveyed by Accenture said they use big data primarily for predictive purposes, as many as 88% indicated big data analytics is a top priority for their company. With an increasing number of companies learning to master the precursors to developing predictive models -- namely, connecting, monitoring, and analyzing -- we can safely assume the art of gleaning business intelligence from foresight will continue to...

Full article: http://www.ebnonline.com/author.asp?section_id=2171&doc_i...

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