Recently I came across a Computer Weekly article that confirmed what I already knew: the use of predictive analytics is definitely on the rise. In the article, Brian McKenna summarized Accenture’s latest research on analytics in the enterprise. Since 2009, the use of predictive analytics has tripled. Considering that many executives still make decisions based on gut feel, this increase, from 12% in 2009 to 33% in 2012, is significant. Nick Millman, digital, data and analytics lead at Accenture, said, “There has been a reasonable shift from gut feel to data [as a basis of decision-making], and that will accelerate.”
Other key trends uncovered by Accenture’s survey included the rise of the Chief Data Officer. About 66% of the 600 organizations surveyed have appointed a CDO and of those who haven’t, 71% plan to in the near future. This certainly stacks up with what I have seen about the critical importance of data to companies large and small.
It’s not surprising, however, that companies are far from satisfied with their current use of analytics, with only 22% claiming that they are very satisfied. And all companies report an analytics skills gap: they need more analysts than they have. Accenture suggests building your analytics capability but notes that while data stewardship is hard to outsource—after all, who knows your data needs better than you do—getting help with predictive analytics and modeling is definitely an option. Here at AgilOne, we stand ready to help you expand your predictive analytics capabilities, offering you fresh insight with our business-friendly cloud-based solution.
And by the way, Accenture summarized some of its findings in a cool infographic, if you’re interested.