San Ramon, Calif. - March 7, 2012 - New benchmark research, co-sponsored by KDnuggets, from Ventana Research, "Predictive Analytics: Improving Performance by Making the Future More Visible," finds that in organizations that have deployed predictive analytics, over two-thirds are satisfied (45 percent) or very satisfied (21 percent) with their use of predictive analytics.
Predictive analytics have become increasingly important as companies wish to harness the historical analysis with forward looking analytics to forecast the future and provide a range of potential courses of action. Among companies that have deployed predictive analytics, Ventana Research found largely positive results about the use and results. Three-quarters (74 percent) of respondents largely trust the predictive analytics, while another 10 percent trust them totally. In addition, the use of predictive analytics on social media networks, pricing across supply chain and customer service were the top three planned areas of focus.
"Predictive analytics are changing the way businesses operate and our research provides a competitive advantage," said David Menninger, VP & Research Director of Ventana Research. "The research identified best practices and methods for which predictive analytics can be best utilized across line of business processes."
Ventana Research undertook this benchmark research to learn about organizations that use predictive analytics and to acquire real-world information about levels of maturity, trends and best practices. It explores how they do this now, how people at various levels feel about the current processes and tools, plans they have to change of improve them, and benefits they hope to gain by doing so.
Ventana Research will expand on the key findings of this benchmark research during a live interactive webinar on March 22nd, 2012 at 10am Pacific Time. To participate in the webinar, or view it after it has taken place, visit: www.ventanaresearch.com/PATwebinar
Those interested in learning more about this benchmark research can do so at www.ventanaresearch.com/pat/. As a part of your registration you will receive insights and education from Ventana Research on using technology effectively in business.