If business intelligence software such as predictive analytics can give the C-suite insights to prepare their companies for the future, what will the rest of 2016 look like for predictive analytics solutions? The answer to that question is continued use and popularity as a greater number of industries adopt SPSS predictive analytics software.

Business Intelligence Solutions Review anticipates this year to be the one when these event planning tools go mainstream. Look back at last year and you'll see already how much of an influence predictive analytics had on so many different industries. The previous year saw these solutions become even more of a game changer for marketers, 7wData noted. However, marketing and advertising where only two of an ever-expanded field of businesses to adopt this software.

Improving a plethora of fields
Organizations use a system of algorithms for everything from Spotify and Netflix recommending a song or a movie to customers to the U.S. military anticipating terrorist threats, Business Intelligence Solutions Review said.

"This year, more businesses will experience the power of predictive analytics."

With predictive analytics and more data moving to the cloud, more companies will embrace tools that can help forecast the future of their business. IBM is already started developing industry-specific predictive analytics for retail, banking and the entertainment fields giving business owners a better grasp of consumer demand as well as their current supply.

Not just for data analysts anymore
As more companies find the value in analyzing the big data available to them, they'll also demand their employees become data literate. The IT department won't be the only section of a business to use algorithms and analysis. In fact, with a move to the mainstream, research and development, business strategists and even human resources will come to rely on predictive modeling software to complete their work effectively and efficiently. 

Many companies as diverse as Patagonia, the outdoor clothing supplier, to Boeing, the aircraft manufacturer, put predictive analytics to the test everyday to examine their supply chain of fleeces to and identifying the tolerance of an airplane's instruments.

This year, more businesses will experience the power early adopters already know predictive analytics can offer. These software solutions allow executives and managers to better understand customers and anticipate their needs while also giving better insight into how the company is running. Offering up this wealth of information means predictive analytics gives bosses the multi-faceted perspective to make the right decisions for their ventures.

X