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Business Analytics: Moving From Descriptive To Predictive Analytics

by Dashboard Insight, Dashboard InsightFriday, January 17, 2014

Bill Schmarzo has provided a blog for EMC Corporation on the shift from descriptive analytics to predictive analytics, what is means for businesses making the move:

I recently met with two organizations that had very impressive business intelligence (BI) implementations. However, they struggled to understand how predictive analytics could augment their existing BI capabilities. The purpose of this blog is to clarify the differences between business intelligence (a.k.a. descriptive analytics) and predictive analytics (a subset of data science) and highlight their complementary natures. In particular, you will learn that predictive analytics:

  • Can provide more insightful and actionable answers to the organization’s most common questions, (“Who are my most valuable customers?” “What are my most important products?” “What are my most successful campaigns?”) than those generated by business intelligence alone.
  • Can provide more future-looking answers and recommendations to questions that cannot be addressed at all by business intelligence.

Continue reading here.

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