Predictive analytics helps companies gain advantage. By drawing insight from the widest range of data sources, companies can build an accurate visualisation of the future and model their process to match. By helping them expect the unexpected, predictive analytics facilitates better planning, happier customers and healthier profits. However, sometimes you need to understand how analytical insights can be used by the organisation, and challenge established business processes to make the most of the opportunity.
Laurie Miles, Director of Analytics at SAS explains how all-too-common approaches to predictive analytics are stunting the technology’s potential. To maximise returns, he explores the merits of having a lifecycle perspective when it comes to deployment and operation. He recommends people to consider a more business-focused approach to using analytics and advises on adopting a holistic view of how data is used throughout the organisation.
Identifying obstacles that get in the way of effective integration, Laurie also describes the new language data scientists must adopt to communicate predictive analytics to their colleagues, securing buy-in from crucial decision-makers and users. He references SAS’ work with brands like HSBC, Shop Direct and Travis Perkins to provide real-world examples of his recommendations in practice.
The below video provides expert guidance from Laurie on how to achieve smooth integration and avoid obstacles in operational deployment as well as how to effectively challenge inefficiencies among people, processes and technologies, and how to use data science teams to get the most out of predictive analytics in your organisation.