June 11, 2008
Business Objects, an SAP company and the world’s leading provider of business performance optimization solutions, today announced the availability of 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 George Neill, IT Director, Organic Valley. “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 organizations 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.
The combination of BusinessObjects Predictive Workbench and BusinessObjects XI 3.0 uniquely provides customers with the ability to scale and meet discovery needs of organizations of all sizes. The user-friendly visual workflow interface shows and mines all data, so there is no need to invest time and resources into creating long code or algorithms to discover trends and make forecasts. At their fingertips, users have detailed reporting tools, a rich library of algorithms, point-and-click visualizations, intuitive discovery, advanced predictive analytics and tools for query, reporting and analysis.
BusinessObjects Predictive Workbench supports customers with mixed IT environments by mining data sources across heterogeneous IT systems and offering more flexibility for customers to build robust predictive models.
New integration of SPSS with the Business Objects BI platform, previously announced as an original equipment manufacturer (OEM) agreement, now allows Business Objects customers to leverage their existing BI solution by tapping into the rich Business Objects “semantic layer” which includes metadata from various databases.
“Business Objects is at the forefront of the business intelligence industry, and this latest innovation gives customers the power to translate historical business data into a solid business strategy for the future,” said Marge Breya, executive vice president, Business Intelligence Platform, Business Objects. “Learning from the past in order to improve future prospects is now within everyone’s reach. Today we are making available a significant new level of predictive intelligence and are doing it in a way that is intuitive and natural for the business user. Predictive Workbench provides deeper insight and puts a powerful tool into the hands of business people to help optimize performance for their organization.”