Analytics: Hotter Than Ever

Timo Elliott is predicting that 2012 will be the year that analytics takes the lead as a business driver in today's economy:

The real trend this year is not the technology. It’s about helping business people make better decisions, and actually change the way companies do business. Analytics has always been about transforming business, but the recent huge changes in analytic technology have created interesting new opportunities for business innovation....

In particular, companies want better visibility about what’s going on in their market, and increased organizational agility in order to be able to deal with change fast. It’s like driving in the fog without a map – in order to survive, you should invest in better visibility, brakes, and steering to be able to spot and avoid fast-moving objects looming out of the fog.

Analytics provides these capabilities: business intelligence to peer into the road ahead, risk-management to provide fast alerts to new obstacles, and flexible financial planning systems to help swerve around them....

Many companies are going beyond "just" improving their existing analytic capabilities, using analytics in new ways to change the way they do business. Instead of analytics being something that is used to monitor and eventually improve a business process, analytics is becoming a more fundamental part of the business process itself.

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Timo Elliott

Let's face it, analytics are hotter than ever, especially in today's competitive economy.

Source: Elliott, T (2012, February 10), 2012: The Year Analytics Means Business, Business Analytics.

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