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Advanced analytics is a key competitive weapon of companies everywhere. Visionary organizations take a future-facing, analysis-driven perspective on new challenges. They do this by grounding management forecasts in solid historical information sets, leveraging and extending companies' existing investments in data mining and predictive modeling. However, enterprises must be careful not to adhere to the common practice of implementing advanced analytics tools in tactical, application-specific silos. This traditional practice makes it difficult for diverse predictive modeling teams to share their deep domain expertise, best statistical approaches, and most powerful data exploration and visualization features.
The key approach for silo-smashing is service-oriented architecture (SOA), which refers to best practices for encouraging greater reuse, sharing, and cross-platform interoperability among key business resources. Key SOA principles — such as standards-based service virtualization, reuse, brokering, and governance — are as applicable to predictive models as to any other resource that lives online. Predictive analytics can sit at the core of your SOA strategy, and leading-edge enterprises are in fact positioning them this way. Companies are embedding predictive logic deeply into data warehouses, business process management (BPM) platforms, complex event processing (CEP) streams, and operational applications.
In this teleconference, Forrester Senior Analyst James Kobielus will present the principles of service-oriented analytics. This approach requires that Business Process and Application (BP&A) professionals gain executive-level commitment to becoming a predictive enterprise on all levels. From the perspective of companies' existing predictive modeling teams, this will require ongoing focus on collaboration across business, function, and subject domains. You should create a culture and offer incentives that encourage modeling professionals to reuse each other's expertise and models on problems that cross multiple domains. As you deploy predictive models into operational applications, you should provide other applications with SOA-based access to them through Web services, Web 2.0, and other standardized interfaces.
Agenda:
Vendors mentioned: Angoss, FICO, IBM, KXEN, Oracle, Portrait Software, SAS Institute, SPSS, and TIBCO.
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