Infographic: The Analytics Big Bang

A new FICO infographic “The Analytics Big Bang” traces the evolution of predictive analytics since the dawn of the computer age. It cites compelling evidence that the analytics industry is at an inflection point, and offers a glimpse of what comes next.

The need to decode data and build customer intimacy is driving a huge expansion in predictive analytics:

• In twelve years the analytic software market went from $11 billion to $35 billion
• In nine years the R programming language for analytic software grew to 1 million users
• In eight years IBM spent $16 billion buying analytics companies
• In one year the number of data scientist job posts has jumped 15,000%

So, where are we headed next? Put state-of-the-art analytics and the means to drive real-time decisions from it into a cloud computing infrastructure, and the power of analytics becomes available on-demand to organizations of all shapes and sizes. Suddenly, every organization can take advantage of profound efficiencies and opportunities for collaboration that transform what we can accomplish, how fast and at what cost.

Andrew Jennings, FICO’s chief analytics officer and frequent blogger, summed it up: “We've now reached a tipping point where the convergence of Big Data, cloud computing and analytic technology is leading to massive innovation and market disruption. We foresee predictive analytics being used to solve previously unsolvable problems, and bringing enormous value to businesses, governments and people.”