Remember the days when a rear-view mirror was all we needed to make business decisions? Now, predictive analytics appears poised to turn hindsight into a relic of the past. Two Gartner analysts echo that sentiment, stating, “Few technology areas will have greater potential to improve the financial performance and position of a commercial global enterprise
Concurrent with the extraordinary rise of the Internet of Things (IoT), predictive analytics are gaining in popularity. With an increasing number of companies learning to master the precursors to developing predictive models — namely, connecting, monitoring, and analyzing — we can safely assume the art of gleaning business intelligence from foresight will continue to grow rapidly.