Business Objects, an SAP company and the world’s leading provider of business performance optimisation solutions, has released BusinessObjects Predictive Workbench, offering data mining and predictive analytics integrated with BusinessObjects XI 3.0, the industry’s first unified business intelligence (BI) platform.

BusinessObjects Predictive Workbench enables people to identify patterns in historical business data and the variables that drive relevant business trends.

Decision makers can use this insight to extrapolate future scenarios and work proactively in anticipation of market changes. With Predictive Workbench, Business Objects makes predictive analytics a mainstream feature on the industry’s most widely deployed information infrastructure.

In the current economic climate, it is critical that organizations better understand what drives their business and can accurately assess trends across all lines of business, using that insight to both optimize future business performance and avert potential danger.

BusinessObjects Predictive Workbench empowers organizations to harness existing performance data to identify trends and patterns, and play out “what-if” scenarios as they develop business strategies moving forward.

These forward-looking capabilities can help companies address the problems and challenges faced during an economic recession.

“The new analytics and forward-looking capabilities can dramatically improve our sales and operational planning process through increased confidence in our data analysis,” said IT director, Organic Valley, George Neill.

“With BusinessObjects Predictive Workbench, we can help keep the lid on transportation costs by being able to better evaluate our options for moving our dairy products to high demand areas. We can also look for patterns and anomalies in our data so we can improve our long term strategic planning efforts. By doing so we can understand, and confidently justify our best next-steps, backed by concrete analysis of what has and has not worked for us in the past. The ease of use and power of the data mining tools are exactly what our data analysts need to get answers much faster than we have previously, reducing their stress while increasing their productivity.”

Using powerful data mining technology, BusinessObjects Predictive Workbench enables customers to pore over historical business information and create predictive models that can be utilized to solve both horizontal and industry-specific business problems.

The predictive models help organisations achieve specific business goals, such as maximizing marketing efforts, designing optimal pricing plans, improving operational efficiencies and, most importantly, gaining agility and competitive differentiation.

For example, BusinessObjects Predictive Workbench can determine the critical success factors in previous marketing campaigns, thus helping marketing executives to design stronger, more cost-effective future campaigns. In addition, credit companies can more easily identify fraud patterns, and banks can analyze customer behavior and use that data to offer the right type of financial services to the right customer segments. – TradeArabia News Service