Today it seems that everyone is talking about Predictive Analytics and Machine Learning. Organizations of every size and in every industry are investing to compete in this new world. For most organizations this means adopting new analytic capabilities.
Most organizations have BI capabilities such as reporting, dashboards and performance monitoring. However, today’s business needs more than these traditional analytic approaches can deliver: Fast moving streaming data reduces the time available for human decision-makers to respond, putting a premium on being able to make predictions about the future. The increased volume of data pushes organizations to find new ways to present analytic results. An increasingly wide variety of data types puts pressure on the “integrate everything then do analytics” approach common in many organizations. Add to this mix the increasing pressure to respond in real-time and the need for more advanced, more predictive analytics and machine learning is clear.
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