Data and the proliferation of data is a hot topic these days. It wasn’t that long ago that information professionals were concerned that data would flood an organization and overwhelm those making strategic decisions. In some cases, maybe it has? This interesting topic came to us from The Holmes Report in their article, “Is The Promise Of Predictive Analytics Finally Being Fulfilled?”
Much has changed since those early days when the promise of data was seen as both a threat and a cure-all. The promise of predictive analytics is beginning to materialize. Distilling the vast amounts of collected data into actionable insights is a worthy goal.
Predictive analytics is forecasting future performance or behavior based on past analysis. Five years ago, the industry didn’t have a critical mass of data to make reliable projections — but today, it does. The benefits of big data are no longer in question. Data-driven strategies have taken on an entirely new meaning.
Melody K. Smith
Sponsored by Data Harmony, a unit of Access Innovations, the world leader in indexing and making content findable.