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7 essential takeaways on Predictive Analytics [INFOGRAPHIC]

  
  
  

While the name "predictive analytics" is brand-spanking new, the underlying science is at least forty to fifty years old. Engineers and scientists have been using predictive models since at least the first moon shot project. Humans have always been forward looking creatures andpredictive analytics summarized in a simple infographic resized 600 predictive sciences are a reflection of this curious nature.

The infographic below collects some of the basic "top of the head" facts about predictive analytics and should be of use to anyone who wishes to either change to a career in predictive analytics or is a recent convert. The trickle of analysts interested in predictive analytics is quickly becoming a stream. 

Most of the data comes from two very well-known surveys conducted regularly. The first, by KDNuggets is a poll of about 800 data miners and the second is a more exhaustive survey run by Rexer Analytics which goes deep into the technical as well as business value proposition questions. We encourage our readers to check both of them out, in case they haven't already.

This infographic can be considered a thumbnail summary of (what we think are) important takeaways from those surveys for our target audience. The first and the last points of the infographic touch upon the hype surrounding predictive analytics and how Gartner's hype cycle may be applied to predictive analytics.

 

predictive analytics infographic cropped 2012

Comments

Nice infographic! Puts the industry into some context.
Posted @ Friday, August 10, 2012 8:12 AM by Paul Kitko
Paul, thanks!
Posted @ Friday, August 10, 2012 8:40 AM by Bala Deshpande
Nicely done. Might consider including some research we did at Gartner on the emerging role of the "data scientist" (blog w link to client research): http://blogs.gartner.com/doug-laney/?p=230&preview=true. --Doug Laney, VP Research, Gartner, @doug_laney
Posted @ Sunday, August 12, 2012 9:28 AM by Doug Laney
Doug - thanks for the link. I will take a look.
Posted @ Sunday, August 12, 2012 10:11 AM by Bala Deshpande
Nice graphics and nice summary!
Posted @ Tuesday, December 11, 2012 12:13 AM by Karl Rexer
Karl, Thanks. Also appreciate the annual survey.
Posted @ Tuesday, December 11, 2012 6:25 AM by Bala Deshpande
Bala - The Data Miner Survey is a labor of love - so it is our pleasure to do it. We've moved to a biannual schedule, and plan to launch the next survey in Jan-2013. I hope you'll both participate and help us spread the word when the survey is open for responses. 
 
I recently created a list of publications that cite our survey - I see that you're on that list three times. Thanks. If you're curious, the list is here: http://www.rexeranalytics.com/Data_Miner_Survey_Citations.html
Posted @ Tuesday, December 11, 2012 8:19 PM by Karl Rexer
Karl - I am looking forward to participating in the 2013 surveys. Clearly the value it presents to the community of practitioners and enthusiasts is very high. We will certainly reserve a space for the results on our blog! 
Posted @ Wednesday, December 12, 2012 8:22 AM by Bala Deshpande
Nice one!
Posted @ Thursday, March 21, 2013 3:11 AM by Sandra Lim
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