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Changing landscape of predictive analytics

Allister Mowbray, General Manager, OLRAC SPS


Johannesburg, 01 Dec 2015

Traditionally, predictive analytics (PA) solutions have been applied as follows:

This engagement model results in an implementation time of between six months (when working with very competent consultants) and two years. Implementations such as this form the traditional backbone of the industry. However, as the diversity of companies looking for predictive solutions grows, PA consultants will need to be flexible about the type of solutions they offer, says Allister Mowbray, General Manager at OLRAC SPS.

New players in the predictive analytics market

In the last few years, the typical profile of a company with the need for predictive analytical solutions has changed with respect to structure, size, in-house skill sets, and most importantly, attitude. These new players don't necessarily want to buy large, multifunctional enterprise-level software packages because (a) they don't have the skill set, (b) the budget, or (c) the broad range of requirements that make this a good investment. They want software that can solve a particular predictive problem quickly and cheaply.

PA solution providers will have to become more aware of this, and start to offer prebuilt PA solutions that solve common PA problems that can be positioned at attractive price points. This does not eliminate the need for enterprise-level PA software; the traditional engagement model described earlier will still be prominent in the market. In addition, whenever possible, existing enterprise level PA software should be leveraged to create the prebuilt solutions, thus further reducing costs. However, if PA solution providers want to compete in this arena, they will need to consider the changing landscape and develop solutions that can address the demands of the new companies operating in the PA space.

Reaction from predictive analytics solution providers

OLRAC SPS is positioning itself to penetrate this market by the development of prebuilt PA solutions that answer immediate technological needs for a variety of industries, particularly telecommunications, credit risk, and insurance, along with additional solutions in development. Visit the OLRAC SPS Web site for more exciting news around these game-changing solutions.

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Editorial contacts

Sophie Pages
OLRAC SPS
sophie@olsps.com