Dresner Advisory Services today published the 2018 Advanced and Predictive Analytics Market Study, part of the Wisdom of Crowds® series of research. Advanced and Predictive Analytics includes statistics, modeling, machine learning, and data mining used to analyze facts to make predictions about future or otherwise unknown events.
The fifth annual report examines changing user perceptions and plans, as well as current and future industry capabilities. The 2018 report adds coverage of advanced model management, longevity of use, and budget criteria.
According to the report, 28 percent of respondents use advanced and predictive analytics today, compared to 23 percent in 2017. Very large organizations and those who rate themselves as “completely successful” BI organizations are the most likely users. “BI expert” is the most likely title for enterprise users of advanced and predictive analytics, followed by business analyst and statistician/data scientist.
“For the first time in our five years of research on the topic, advanced and predictive analytics is considered ‘critical’ or ‘very critical’ to a majority of respondents,” said Jim Ericson, vice president and research director at Dresner Advisory Services. “Users rank advanced and predictive 7th out of the 36 technologies and initiatives strategic to business intelligence in 2018.”
“We view advanced and predictive analytics as an essential ingredient in any successful BI strategy, and believe the space will continue to gather attention based on perceived criticality and high prioritization,” said Howard Dresner, founder and chief research officer at Dresner Advisory Services.
Wisdom of Crowds® research is based on data collected on usage and deployment trends, products, and vendors. Users in all roles and throughout all industries contributed to provide a complete view of realities, plans, and perceptions of the market.