IDC Trends and forecasts: Data-driven innovation

Trending August 2013 - According to IDC figures, the advanced analytics market will be worth $3bn by 2016. A strong focus on data management enables organisations to ensure data flows are efficient and transparent. It can also be used for predictive data analytics to improve the speed of decision-making. The recent explosive surge in big data means predictive analytics is gaining wider acceptance for operational use and in ways never previously thought possible. Within the context of customer relationship management (CRM), however, predictive analytics is more at the experimental stage rather than a de facto modus operandi. That said, it is no surprise that companies whose business model is built on technology are in the vanguard when it comes to applying predictive analytics to CRM.