Here’s a follow-up to the previously posted series, Breakthroughs in Analytics, from Tech News World.
In the latest update, Ned Madden talks about the various tools and vendors in the Analytics domain. Read more.
Today’s software packages are much more focused on the actual application of analytical approaches to specific types of decision problems and specific types of industries, according to Anthony Milano, GMI’s VP of professional services.
“In the old days, tools were typically very general purpose in nature,” Milano told TechNewsWorld. “Now, oftentimes, tools are much more focused on helping users solve specific types of problems in business verticals and industries.”
Vendors are even adapting their core analytical engines to specific needs by creating a packaged solution that includes a version of the engine, analytic models, processes, methodologies, add-ons and extensions that allow the product to solve a very specific need, Milano said.
“Importantly, this type of solution minimizes the amount of time required to solve the problem and makes it easier for the client to get the job done without requiring a deep topic expert,” he added. “In effect, these packaged solutions embed the expertise in the solution.”
Milano stressed the importance of analytics solutions that are provided under the rental model from an application service provider (ASP) as Software as a Service (SaaS).
“These software delivery models have proved to be very cost-effective and efficient for customers, particularly when all the costs of owning and installing your own software are understood,” he said.