There is no lack of predictions around this time of the year, so the timing of IIA’s 2011 Prediction for Analytics conference call was a perfect reason for me to summarize the briefing. Without further ado (I added #10)…
- With even modest economic growth in 2011, the use of analytics as a competitive differentiator in
selected industries will explode.
- The gap between analytical innovators and those who do not invest in analytics will widen in high profile
- The roles of marketing, sales, human resources, IT management, and finance will continue to be
transformed by the use of analytics in 2011.
- 15 Chief Analytics Officers (CAO) will be appointed in 2011.
- The availability of strong business-focused analytical talent will be the greatest constraint on
organizations’ analytical capabilities in 2011.
- Database capacity, processor speeds and software enhancements will continue to drive even more
sophisticated applications of analytics in 2011.
- Newer analytical methods in the areas of text analytics, survival mining, time series mining, net-lift
modeling, and data visualization will grow in use in 2011.
- Consolidation of analytics software players will continue; entry of specialized analytics software and
service providers will accelerate.
- Regulatory and privacy constraints will continue to hamper growth of marketing analytics.
- Analytic professionals will be more versed in problem definition, data integration, and data visualization techniques along with the required quantitative skills.