Report Reveals Organizations Empowering Employees With Predictive Analytics Reap Benefits to Their Bottom Lines
Companies Leveraging Predictive Analytics See Higher Customer Retention, Sales Revenue, and Profitability
TIBCO Software Inc. (NASDAQ: TIBX) today announced a new Aberdeen Group report that reveals top performing organizations are leveraging predictive software solutions that can be used by all business users without the need for dedicated statistics experts. The report, co-sponsored by TIBCO Spotfire®, examines how 'Best-in-Class' organizations, the top performing 20 percent of organizations, use predictive analytics to predict the future behavior of customers and potential customers, and the internal performance of the organization more precisely than ever before.
This new report builds on Aberdeen's benchmark report published in May 2008 (Predictive Analytics: The BI Crystal Ball) and highlights results from an Aberdeen Group survey-based benchmark study of over 350 organizations, of which 159 were end-user organizations actively using predictive analytics and data mining technology. Key findings show that predictive analytics are a key tool for tough times with, on average, users achieving a 1% improvement in operating profit margins over the last year, and a year over year increase in customer retention of 6%. Those survey respondents that have not yet adopted predictive technologies experienced a 2% decline in profit margins, and a 1% drop in their customer retention rate.
"In today's increasingly competitive environment, helping more people throughout the organization to make smarter, more predictive decisions can have a significant impact on a firm's competitiveness - or survival," said David White, senior research analyst with Aberdeen. "Leveraging products, such as Spotfire Analytics, that can empower business professionals to use predictive models and tools can be an incredibly powerful way to maximize the valuable, though typically resource constrained, skills of an organization's statisticians and data analysts."
The report shows that Best-in-Class organizations in Aberdeen's survey were almost twice as likely to have a team dedicated to discovering new customer insights and a business staff that can use a predictive model as those organizations benchmarked as 'Laggards,' the lowest performing 30 percent of organizations, (46% versus 27% and 38% versus 19%, respectively). This point further demonstrates that Best-in-Class organizations have a predictive software solution that can be leveraged by business users without the need for a dedicated statistics expert.
"Aberdeen Research named Spotfire Analytics as the top analytics product in their 'Business Intelligence: Reporting & Analytics (BIRA) AXIS Report' last year," said Mark Lorion, vice president of marketing for Spotfire, TIBCO Software Inc. "We've further innovated our top-ranked analytics platform and made predictive analytics tightly integrated within our visual user experience. This makes predictive analytics a mainstream feature of any business application, allowing any enterprise decision-maker to perform 'what-if' scenarios on demand and find new insights in complex data instantly."
For a complimentary copy of this report, please visit: http://www.aberdeen.com/link/sponsor.asp?spid=30411795&cid=6287.
About AberdeenGroup, a Harte-Hanks Company
Aberdeen is a leading provider of fact-based research and market intelligence that delivers demonstrable results. Having benchmarked more than 30,000 companies in the past two years, Aberdeen is uniquely positioned to educate users to action: driving market awareness, creating demand, enabling sales, and delivering meaningful return-on-investment analysis. As the trusted advisor to the global technology markets, corporations turn to Aberdeen for insights that drive decisions.
As a Harte-Hanks Company, Aberdeen plays a key role of putting content in context for the global direct and targeted marketing company. Aberdeen's analytical and independent view of the "customer optimization" process of Harte-Hanks (Information - Opportunity - Insight - Engagement - Interaction) extends the client value and accentuates the strategic role Harte-Hanks brings to the market. For additional information, visit Aberdeen http://www.aberdeen.com or call (617) 723-7890, or to learn more about Harte-Hanks, call (800) 456-9748 or go to http://www.harte-hanks.com.
TIBCO's technology digitized Wall Street in the '80s with its event-driven "Information Bus" software, which helped make real-time business a strategic differentiator in the '90s. Today, TIBCO's infrastructure software gives customers the ability to constantly innovate by connecting applications and data in a service-oriented architecture, streamlining activities through business process management, and giving people the information and intelligence tools they need to make faster and smarter decisions, what we call The Power of Now®. TIBCO serves more than 3,000 customers around the world with offices in more than 20 countries and an ecosystem of over 200 partners. Learn more at www.tibco.com.
TIBCO, TIBCO Software, TIBCO Spotfire, Spotfire, are trademarks or registered trademarks of TIBCO Software Inc. or its subsidiaries in the United States and/or other countries. All other product and company names and marks mentioned in this document are the property of their respective owners and are mentioned for identification purposes only.