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Businesses clearly expect value from big data analytics. This year’s New Vantage Partners Executive Survey found more than 97% of organizations are investing in big data and AI initiatives, with improving decision-making the top objective. The CIO Tech Poll: Tech Priorities 2018 found that 57% of enterprises have boosted their budgets this year, with the greatest increases going to predictive analytics.
At the same time, businesses want evidence that their investments in analytics and machine learning are justified — and this is where many companies are struggling to show definitive improvements. To understand why and what needs to change, we asked Chisoo Lyons, VP and head of FICO’s Advanced Ventures Practice, about which advanced analytic investments have the strongest impacts on ROI and innovation-driven business performance.