Predictive analytics top business trend in 2013
As more enterprises begin to address the potential value in big data mining, database management will play a critical role in leveraging predictive analytics.
In an interview with Tech Target, George Matthew, president of Alteryx, explained that predictive analytic tools have already proved useful in decision-making, but a full understanding of how those conclusions were drawn and the predictive function are necessary to full advantages of the technology. Having a clear map of the data’s journey from its source and the entire analytic process gives decision-makers even deeper insight into what predictions are most effective as opposed to making blind assumptions based on trust. Matthew was adamant that analytic models with heightened database management and visibility are superior because they integrate multiple data sources, whether structured or unstructured.
“I think the big difference between BI and analytics is the assumption that you don’t necessarily need to have a structured data warehouse underlying an analytic platform.” he explained. “The beauty of an analytic platform is that it doesn’t worry about the source and the shape of the data as it is coming in. It’s able to ingest anything into its environment to be able to create a meaningful view of the analysis surrounding it, help predictive analytics be built in a clear-box way, and then be able to package and deploy an analytic application.”
Organization leads to better analysis
Big data has been a much-hyped concept in the business world for its promise to answer previously impossible questions. Business 2 Community contributor Jeff Adelson-Yan explained that in order to make predictions as to a business’ direction, firms require software that can layer varied sources of data, make connections between these disparate sets and make it easier to search them for specific information. Because companies are typically storing data from multiple platforms and channels in one place, database administration services can assist in organizing data and making it more accessible.
Effective database management allows executives to pull reports from one central data store, as opposed to various sources, for more accurate decisions. Business 2 Community reported that a predictive model relies on a proper compilation of all information, integration with external data variables and analytic tools that can identify conclusive trends and determine how they will impact productivity.
A shifting emphasis on a predictive big data model demonstrates a new commitment to efficient data management strategies and heightened visibility into the analytic engine.
RDX’s business intelligence and big data experts assist customers in leveraging data contained in large data stores. For more information, please visit our Business Intelligence and Predictive Analytics pages or contact us.