By Philip Duplisey – Director Consulting Services
I recently read “The Two Second Advantage” by Vivek Ranadive & Kevin Maney, which describes the opportunities that exist for individuals and companies of being able to predict the future by just a little bit. This small bit of insight, pays huge dividends. Wayne Gretzky once said, “A good hockey player plays where the puck is. A great hockey player plays where the puck is going to be”. That is the 2 second advantage.
Research in Data Visualization and Human-Computer-Interaction have led to a variety of techniques and best practices for displaying information and allowing people to interact with information that helps reveal new insights. Answering questions, or uncovering questions you didn’t expressly ask, is a start, to that, add context and you have a story. Stories help people understand their information, and how it might unfold is how predicative analytics can give you the 2 seconds you need to succeed.
Smarter Apps in the 21st century need to blend in just enough analytics under the hood to extract the real answers. This is not about exposing predictive models to business users, but rather embedding them behind a world-class user experience so their impact is real, but not noticed. Spotfire is truly unique in providing a combination of visual and statistical analytics to help customers get the most value out of their data more easily. These capabilities can be applied at various levels of complexity to solve different types of problems.
Spotfire’s simple integration of statistical models enables Spotfire to:
- Discover relationships in data so they can determine how different parts of data are related to each other.
- Determine if there are logical ways to group data.
- Or discover previously unknown relationships in large data sets, to quickly focus on which parts of your data are most important to pay attention to.
- Use relationships in data to predict the future based on the past so educated projections can be made regarding, for example, the likelihood of a customer responding to an offer.
- Plan in the face of uncertainty.
Finally, using Spotfire’s predictive analytics engine enables even the most sophisticated of users to optimize constrained resources to determine the best possible outcomes.
Coupling these predictive capabilities with the ability to trigger these apps based on business events we’re left with more relevant apps delivered in rich context. Just the 2 second advantage you need.
For more information on how Spotfire can work for you, contact us now.
About the Author
Philip Duplisey, Director of Consulting Services at Bardess, has been implementing enterprise wide solutions globally at Fortune 500 companies for 15 years. He enjoys enabling the organization to find value in their data, and presenting that data in compelling ways that lead to deeper insights and improved performance.