Organizations that began with simpler modeling to deliver results are now moving to more sophisticated modeling -- such as data mining and predictive modeling. In this Express Computer Online article, Bhavish Sood, Principal Research Analyst, Gartner, describes how data mining is undergoing rapid adoption in support of CRM, risk management, compliance, profitability and spend management initiatives.
"Organizations that began with simpler modeling (such as OLAP) to deliver some initial results are now moving into more sophisticated modeling such as data mining and predictive modeling. In the past they had bought packaged analytical applications such as for CRM or insurance claims management. In high volume data scenarios, clients bought data mining tools and built internal teams that supported business users with analysis. We continue to see clients buy in both patterns depending on how critical their requirements are. Compliance and risk-related requirements are mostly bought in packaged form but insights on customer profitability are still modeled internally using technologies from vendors of pure-play data mining tools."