In today's fast-moving times, it is necessary for companies to think and act with foresight in order to withstand the intense competition. In order to gain an advantage, it is no longer sufficient to react to trends and losses; instead, opportunities must be recognized and exploited early to avoid losses. Predictive analytics techniques, such as data mining, artificial intelligence, or machine learning, can be used to make predictions about the future. This makes it possible for companies to act proactively with the help of predictive analytics, to identify and analyze trends at an early stage, and thus make well-founded decisions. So it's no wonder that predictive analytics is a topic that will continue to gain importance in the future. According to a study conducted by BARC in 2021, 68% of the 319 companies surveyed said they intend to start using integrated data and analysis software for predictive analytics in the future.
When introducing predictive analytics, companies face various challenges that need to be overcome in order to implement their predictive analytics project successfully and with benefits. The graphic shows the results of a study by Computerwoche and CIO from 2018.
If you as a company succeed in overcoming the challenges that predictive analytics projects bring, new opportunities and numerous advantages will arise for you. Among other things, you can optimize your operational processes and have a better data basis for strategic decisions. Further advantages of predictive analytics are:
As a holistic solution for planning, analysis, and reporting, the SAP Analytics Cloud (SAC) offers a central cloud platform with the help of which data can be modeled intuitively and presented in attractive dashboards. The front-end BI tool allows decentralized use and ensures uniform data and a sound basis for decision-making throughout the company.
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Benefit from the many advantages of the SAP Analytics Cloud in your daily work and, for example, visualize real-time analyses based on data from a wide range of sources. Our experts will provide you with the necessary know-how in a very short time in our Power Workshop for SAP Analytics Cloud.
andreas.mayer@ibsolution.de
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