Analytics Innovations Community Call: SAP Predictive Analytics Notes Part 1
These are my notes from today’s call.
First, a poll:
53% of attendees on today’s webcast are not using SAP Predictive Analytics.
The first speaker was Sven Bauszus, SAP. He said nothing is stronger than an idea whose time has come, and it was “time for a predictive analytics solution” due to simplicity, ease of use, productivity. Why now? He mentioned the 4 V’s of big data, and competition, insights, predict and act in time. He also said it was “not just for statistical experts”.
The figure above shows how Analytics needs to evolve, with requirements for predict and act
Why did it happen, while will it happen
How can we make it happen?
Predictive Analytics take a step further by taking action
Descriptive is part of predictive analytics
“What is the point of doing predictive analytics if you don’t integrate into your operations?” So prescriptive is needed too.
Big data goes main stream
More companies leverage data asset
68% of those who use advanced analytics have a competitive advantage and they reduce operational risk
Above shows the use cases for Predictive Analytics
The SAP speaker said this is not a TCO discussion but a quantifiable return on investment, to help increase in accepting customer offers
Retailer in 1K stores was able to improve sales forecasting and exploit hidden revenue potential, slash inventory costs; builds 500 predictive models a month – models built for shelf planning, store clustering, sales and purchasing planning – 82% accuracy in forecasting, with 10 times more categories than before
The “need for speed” was mentioned with the “Business potential is huge”
Predictive maintenance helps predict when failure occurs, tasks for monitoring for future failure so maintenance occurs before failure occurs to prevent unplanned maintenance
The first speaker summarized the above with “democratizing predictive analytics” and support real time
Question & Answer
Q: We have many predictive in market, what is so unique about predictive analytics?
A: Combine predictive automation, full support of in memory database scoring, reduces need for data movement
Predictive platform has scoring engine on the back end
Easy to use
Focus on rapid deployment
Q: I am existing BI customer, how can I leverage Predictive & skills on my team?
A: Technology is seamlessly embedded with portfolio
Q: What advantages of Predictive Analytics using SAP HANA
A: In-memory capabilities of HANA; take advantage of power speed and real time of HANA
Predictive Analytics does not require SAP HANA
Part 2 will post soon.
BI pre-conference session at ASUG Annual conference
Monday, May 4. (extra registration fees apply).
Featuring Hands-on SAP BusinessObjects BI 4.1 w/ SAP NetWeaver BW Powered by SAP HANA – Deep Dive
See details here: http://bit.ly/ASUGPreConBI
Focus on Analysis Office, Lumira, and Design Studio. You get to work with these for 7 hours! Full day BI workshop. Limited to 30 people. One person per machine (no sharing).
Also some upcoming ASUG Predictive Analytics webcasts are listed below: