Advanced Analytics Are More Important Than We Think
February 3, 2015
Alexander Linden, one of Gartner’s research directors, made some astute observations about advanced analytics and data science technologies. Linden shared his insights with First Post in the article, “Why Should CIOs Consider Advanced Analytics?”
Chief information officers are handling more data and relying on advanced analytics to manage it. The data is critical gaining market insights, generating more sales, and retaining customers. The old business software cannot handle the overload anymore.
What is astounding is that many companies believe they are already using advanced analytics, when in fact they can improve upon their current methods. Advanced analytics are not an upgraded version of normal, descriptive analytics. They use more problem solving tools such as predictive and prescriptive analytics.
Gartner also flings out some really big numbers:
“One of Gartner’s new predictions says that through 2017, the number of citizen data scientists will grow five times faster than the number of highly skilled data scientists.”
This is akin to there being more people able to code and create applications than the skilled engineers with the college degrees. It will be a do it yourself mentality in the data analytics community, but Gartner stresses that backyard advanced analytics will not cut it. Companies need to continue to rely on skilled data scientists the interpret the data and network it across the business units.
Whitney Grace, February 03, 2014
Sponsored by ArnoldIT.com, developer of Augmentext
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