Guest post from Stephen Archut, Product Marketing Manager, IBM Business Analytics
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One of the top barriers to entry for predictive analytics consistently cited by businesses is “inadequate skills and staffing.” This is a significant problem because the amount of data businesses are collecting or have access to continues to grow exponentially – from web, to transactional, behavioral and attitudinal, and from social media to sensors. Businesses that are successfully utilizing this data and incorporating predictive analytics into their business operations are outperforming their competitors.
This is why IBM is announcing IBM SPSS Analytic Catalyst, a brand new offering in IBM’s Business Analytic portfolio. IBM SPSS Analytic Catalyst addresses the growing analytical skills gap and the challenge of discovering actionable intelligence from big data.
IBM SPSS Analytic Catalyst represents a significant step forward in the field of analytics. It is an innovative, ground-breaking analysis tool that makes predictive analytics and discovery more accessible to business users than ever before by automating several analysis steps and removing the need for a business user to understand which statistical technique or algorithm to choose. IBM SPSS Analytic Catalyst does all of this automatically based on the target the user is trying to predict.
IBM SPSS Analytic Catalyst allows business analysts to automatically uncover key insights and predictive drivers in data without the need for programming skills or advanced statistical knowledge. For example, a manager in an insurance company needs to understand what is affecting customer churn. In the past the manager would have gone to a professional analyst to find out what is going on, but that put the manager at the mercy of the analyst’s workload – and the results may not have been received in a timely manner. This manager, who took a statistics course in college but is by no means an analytic expert, can now use IBM SPSS Analytic Catalyst to uncover the key insights and drivers of customer churn simply by uploading a data set and selecting churn as the target.
Results are displayed as interactive visuals with plain-language summaries for easy consumption. The automation of several analysis steps offers significant time-savings that ensure decisions can be made confidently and quickly. The key point here is that IBM SPSS Analytic Catalyst is not just providing visualizations and expecting the user to interpret the visuals and find the relevant insights; it is discovering key information related to a specific target and guiding the user through those findings.
As my colleague George Makovic mentioned in his post, the number of expert data analysis practitioners available today is far below demand. Analytic Catalyst is designed to bridge that gap by enabling business users and other non-professional analysts to join the analytic discussion. Business users can bring their subject matter expertise and knowledge of the business problems and goals and use Analytic Catalyst to discover the key pieces of intelligence in their data.
To learn more about these exciting new products, please join IBM at the Innovations in Business Analytics Virtual Launch event June 11 from 10:30am – 2pm ET.
For more information:
Watch a short demo of IBM SPSS Analytic Catalyst in action