Proceedings

information that makes a difference and it can have transformational implications for
a business. Organizations that build the systems to power that transformation will
drive past those that do not at an accelerating rate as the use of advanced, predictive
analytics changes the way business is done.
DISCUSSION AND CONCLUSIONS
By envisioning and acting on new ways to use information, organizations are
transforming themselves into smarter, intelligent enterprises. New information
strategies are making it possible to create new revenue opportunities, reduce costs and
differentiate from the competitors. The goal is not just to manage information
intelligently but to operate differently and more effectively by using real-time analysis
of massive amounts of information to optimize critical business activities.
In the current economic conditions the need for transformation becomes more urgent.
Even with the flood of data in the organization, one in three business leaders are
frequently making major decisions with incomplete or distrusted information.
Business is all about taking risks assuming that the odds are in the organization’s
favour. Business success depends on organizations being able to forecast scenarios
accurately to make business plans and deploy resources so that they are able to seize
opportunities, neutralize threats and mitigate risks. Clearly, predictive analytics can
play a key role in day-to-day business operations. It can help organizations focus on
strategy and continually make plans based on actual performance and expected
scenarios.
Business analytics is a natural evolution path for Business Intelligence. It is something
that many users desire, but have often needed to obtain separate from their current
Business Intelligence tools. Business analytics can play a fundamental role in
day-to-day business operations. If they are available to workers, business analytics
modelling tools can help business people continually make their plans based on “what
if” analyses and forecasts that leverage both deep historical data and fresh streams of
current event data.
The most important assurance of business analytics is that it will become pervasive,
guiding all decisions, transactions and applications. For the technology to achieve that
challenge, organizations must move toward a comprehensive advanced analytics
strategy that integrates data mining, content analytics and in-database analytics.
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