THE RISE OF THE PREDICTIVE BUSINESS MODEL
Is Predictive Business the future? A Forbes article makes the case saying the convenience and agility of the Cloud, the connectivity and insight of social business models, the power and speed of in-memory database and analytics, and the accessibility of mobile are resulting in more companies adopting Predictive Business models.
THE CHALLENGES OF PREDICTIVE ANALYTICS
Meanwhile, you can’t have a Predictive Business Model without Predictive Analytics, and challenges to make the most of that data remain. Computerworld says challenges that can sidetrack predictive business models include data volume, data quality, model complexity and model usability.
BUILDING AND SUSTAINING A DATA ANALYTICS TEAM
Are you building a data analytics team? Here are a six tips from DataInformed: Make intellectual curiosity a priority, find techies who can also communicate visually, seek out storytellers, look for domain expertise in your industry, keep top talent in steady rotation and cultivate a touch of conflict.
CAPITALIZING ON BIG DATA
What’s preventing companies from capitalizing on big data? That was the subject of an infographic this week that looks at the top 10 challenges companies face. A mixture of technological and cultural challenges, the number one challenge for businesses was “getting business units to share across organizational silos.”
PROACTIVE RISK MANAGEMENT FOR YOUR BOTTOM LINE
Despite new technology, many businesses are still taking a reactive rather than proactive stance when it comes to risk management. An article in ITWeb says “Reacting to risk is simply admitting criminals got the better of you,” and that by the time one reacts to risk, “the harm is done and the perpetrators have vanished.”