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In today's economic downturn, organizations are looking for ways to improve the way they do business to keep ahead of the competition and grow revenue.
In a 2009 CIO Insight survey of senior managers and IT executives, respondents listed their top priorities as improving business processes, delivering better customer
service, generating more business from new and current customers, and differentiating the company from competitors via IT. But faced with the challenging economic environment and reduced funding for new initiatives, how do organizations focus on meeting these prioritized objectives?
The path to success in all of these areas, traditionally, has been to use business intelligence (BI) information to make decisions. Increasingly, organizations are finding that the benefits of BI can be enhanced when complemented by predictive analysis. Specifically, more insight can be gained, and even better decisions made, by coupling business relevant information with an easy-to-use predictive analytics solution.
Business intelligence provides valuable insight into the state of affairs within an organization. The information is critical to decision-making. But when combined with
predictive analysis, synergies can be leveraged to improve business and operations.
Many industry analysts like to make an analogy between BI and predictive analytics by citing a quote from the famous hockey player Wayne Gretzky, who said: "A good hockey
player plays where the puck is. A great hockey player plays where the puck is going to be."
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