Enterprises are still moving slowly to adopt predictive and advanced analytics systems, so companies looking for an advantage may be able to find one by turning their organizations away from decisions based on gut feelings and towards those based on data.
Michael Svilar, Accenture’s managing director for advanced analytics delivery, pegs advanced analytics adoption in the enterprise between 5 and 7 percent; there are opportunities that make him wish he was 25 again, starting his career in analytics now to take advantage of the new technologies and capitalize on the growing excitement in the field.
Accenture recently invested in the predictive analytics company Predixion Software, and is working with the company to create industry- and process-specific applications for their software. Svilar said the company was a good fit as a partner for Accenture because his consulting firm has had a long relationship with Microsoft, and Predixion’s software integrates with Microsoft Excel, adding predictive modeling to an interface that many business users will recognize instantly.
Making tools with advanced analytics capabilities more familiar to business users will speed up adoption in the enterprise, he said.
In this interview with Data Informed staff writer Ian B. Murphy, Svilar discusses what predictive analytics can and can’t do (hint: it doesn’t predict the future), how fields like human capital are fertile ground for analytics applications, and why companies should consider linking departments like marketing, sales and supply chain to a single analytics system. (Podcast run time: 22:25.)
(Editor’s note: due to an issue with our podcast player, the best way to listen to this podcast is to go to this page, and click on the player below the headline, “Advanced Analytics Adoption Still Low, an Opportunity To Get Ahead.”)
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