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3rd Order Analytics Demand Planning: A Collaboration of BI and Predictive Analytics Tools
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Author(s): Keith McCormick (QueBIT Consulting, USA), Richard Creeth (QueBIT Consulting, USA)and Scott Mutchler (QueBIT Consulting, USA)
Copyright: 2015
Pages: 22
Source title:
Integration of Data Mining in Business Intelligence Systems
Source Author(s)/Editor(s): Ana Azevedo (Algoritmi R&D Center/University of Minho, Portugal & Polytechnic Institute of Porto/ISCAP, Portugal)and Manuel Filipe Santos (Algoritmi R&D Center/University of Minho, Portugal)
DOI: 10.4018/978-1-4666-6477-7.ch013
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Abstract
It is commonly proposed that a greater number of individuals should have access to enterprise-level data, and that they should be able to analyze it readily and individually with data mining tools. Although the authors support greater use of Predictive Analytics by the enterprise, they favor more ready access to predictions, not to raw data. Forecasting is among the more difficult analytical challenges. Despite the importance of accurate forecasts, organizations often resort to the subjective judgment of a business analyst. Forecasts are also among the most widely used analytics, broadly distributed to the organization. The authors propose an approach that centralizes the forecasting activity using Predictive Analytics but preserves the wide distribution of the resulting forecast using Business Intelligence technology.
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