Business Analytics: A 2013 HorizonWatching Trend Report

Analytics continues to be an important trend in the IT Industry and those companies that focus on establishing a strong analytics capability will be more competitive in the future.

The amount of Big Data being created, collected and stored with our IT infrastructures is growing exponentially. New streams of digital, social, and sensor sourced data is now filling up databases and data warehouses. At the same time, executives are wanting and needing deeper knowledge and insights on all aspects of their business. The execs know that the data exists within their data center that can help them make better business decisions but they need the capability to be able to harvest insights that will help them make better decisions. 

Leading-edge businesses are embracing advanced analytics that can help them identify their most profitable customers, accelerate product innovation, optimize supply chains and pricing, and identify the true drivers of financial performance.

Trends in Analytics for 2013

There’s so much going on in the field of business analytics.  Here are a few of the important trends to watch in 2013

  1. Customer Analytics: Personalized, cross-channel, customer-driven analytics will drive new focus on delivering individualized, personalized digital experiences 
  2. Mobile Analytics. Increased use of mobile will drive requirement for analytics applied to mobile generated data
  3. Social and Textual Analytics. Moving beyond batch listening, Social Business Managers want to be able to analyze social conversations and influencer networks in real time.
  4. Predictive Analytics: New innovative applications of advanced algorithms and modeling techniques will advance the science of predictive analytics.
  5. Real-Time Analytics. As decision makers get a taste for what can be done, they will want that information faster…..and eventually in real time
  6. Interest Grows in Data Visualization: Enterprises learn that managing and extracting insights from Big Data is not enough…you need to be able to display the insights for decision makers.
  7. Self- Service: Decision makers will increasingly want access to simple to use analytic tools that provide visualization rich output. Oh….and they want that output on their tablet.
  8. Hadoop matures: Hadoop functionality improves and CIOs begin to consider it for mission critical applications
  9. Data Scientists: There will be a rush to hire skilled Big Data Scientists, often via services like Kaggle.
  10. Education and Training: Big Data & Analytic Services firms will offer extensive training and certification programs to try to help fill the shortages of skilled Data Scientists.

My Business Analytics Trend Report

For more, check out the SlideShare embed below