Authored on: May 21, 2012
At 2.6 quintillion bytes of data being created annually, 90 percent of all the data in the world has been created in the past two years. While this unprecedented increase in information is presenting challenges for many companies, others are successfully using it to drive their businesses toward higher profits. This white paper gives one example after another of how the latest advances in analytics are turning big data into competitive advantage.
The top-level benefits of analytics are discussed with an emphasis on how predictive modeling can help every vertical industry in the three critical focus areas of marketing, risk management and operational productivity.
For instance, with the recent explosion of online commerce, businesses are using online behavior and profile information to target offers, customize segmentation and take proactive measures against churn.
Powerful modeling is also in place to improve enterprise risk in key areas such as bank loan defaults, insurance claims loss, credit card fraud and government security breaches.
Finally, analytics designed to improve resource planning and asset maintenance are redefining operational efficiencies for airlines, hospitality and gaming and online retailers. The paper concludes with insights on why the old hierarchical, top-down leadership model is no longer viable in developing a true culture of analytics.