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Don’t Be Afraid of Predictive Analytics

Chances are, you use predictive analytics multiple times each day.  Predictive analytics are used in your laptop, your phone, your car, and more.  But fear of the unknown has prevented many business people from deploying them in their own organization, in areas where they could have tremendous impact on ROI.

In a recent Chief Learning Officer article titled “Don’t Be Afraid of Predictive Analytics,” Jim Walker explains why business leaders shouldn’t let a “fear of metrics” prevent them from taking full advantage of cutting-edge technology.  Walker focuses on organizational learning programs, but his message can be applied widely across the organization.

Predictive analytics provide real-time insights and generate predictive models from massive data stores.  “With the big data market projected to top $84 billion by 2026, and 89 percent of business leaders under the impression that big data will revolutionize business operations in the same way the Internet did, its impact is clear,” Walker write.  “However, few learning organizations are currently using the power of predictive analytics.”

Walker believes “accurate measurement of corporate learning investments may reveal program weaknesses,” which could look bad for executives.  But this is exactly the kind of insight predictive analytics should provide.

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