Is Predictive Analytics an action based approach for creating the Future?

Summary of Predictive Analytics & Business Insights 2015

Yvette Montero Salvetico, Partner @ Kedge – She gave an inspiring talk about “Why is the “future” your job. We cannot rest our laurels on the status quo but instead need to change with the changing times. Her core message to the Analytics community was that the world is moving on to a new set of tools, models and processes and that the industrial age tools, processes and models have become relics of the industrial age. She further went on to define how to navigate through these challenging changing times of uncertainties and ambiguities from the paradigm of consuming and producing “things” which were tangible, like machines, material, capital and labor to “Data and Knowledge”.

This new paradigm needs new vision and a new way to measure and newer models to predict. The future planning will be driven by Research, Creativity, Data and Intuition to derive strategic foresight.

Growth will be in collaboration, open source talent sharing via people cloud across the globe. Access to assets wins over ownership, like in case of Alibaba, AirBNB, Uber, Facebook and Linkedin.

Information has moved from behind the paywalls and corporate firewalls to be accessed and used openly by customers, employees and competitors. Technology leadership is no longer defined by the number of patents filed but by the ability of a company to attract and motivate the world’s most talented engineers and scientists to work for you.

Shifting paradigms….As of spring of 2014, 83% of Africa’s 1 Billion population had a mobile phone. This impact of combining people and technology will continue to grow with the increased advancement in computing power and widespread proliferation of mobile devices.

The way forward is by disruption, ability to take risk while managing the volatility and start practicing the “Pull of the Future” rather the “Push to the Future”. This is to be achieved by 4 step process of Discover, Map, Explore and Create.

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