APPLICATIONS
“Combining predictive power with human experience will drive business value ”
BRET TUSHAUS TITLE : VP PRODUCT MANAGEMENT
BRET TUSHAUS VP PRODUCT MANAGEMENT , DELTEK
COMPANY : DELTEK LOCATION : UNITED STATES
Bret joined Deltek in 2010 as a Product Director , focusing on the company ’ s Vision ERP platform and the way ERP and other technology solutions can help organisations . Before Deltek , Bret spent 15 years at Eppstein Uhen Architects after receiving a Masters of Architecture Degree from the University of Wisconsin .
“ This opacity can be problematic in sectors where explainability is crucial , such as healthcare or criminal justice . Finally , there ’ s the ethical dimension . As predictive systems get more sophisticated , there ’ s an increased risk of algorithmic bias which can perpetuate societal inequalities .”
As Butler describes , vendors bring technology and some of the skills required , but organisations must provide the business context , skills and insight to gain full value from predictive analytics . They must take ownership of predictive analytics projects and ensure multi-skilled teams with excellent business insight in the application domain steer the initiative .
PA models are complex and require specialised skills to build and maintain . These skills are in short supply as well as
being expensive , which is why many companies cannot afford to invest in them internally , however , a much more costeffective way to access the benefit of PA is off-the-shelf PA tools .
Are we able to predict the future of PA technology ? PA ’ s overall goal is to make predictions about future events , before using those projections to improve decision-making . Businesses of all sizes are beginning to adopt PA as part of the business strategy and we are starting to see the early benefits in terms of additional time , resources , and business efficiency . Because of this , investment in PA technology is expected to increase even more in the coming years . Tushaus says : “ Integrating predictive analytics across operations and combining predictive power with human experience will drive business value . As a result , this technology will not only help prevent budget and schedule overruns , it will also lead to better line of sight into project success making it more likely for projects to proceed in the first place . This can , in turn , lead to better industry performance .
“ As we approach 2024 , every minute counts and predictive analytics hold the opportunity to give businesses back time and resources – a crucial business investment to maintain pace with competitors .”
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