New Infographic from FICO Labs Shows How "Big Bang" of Analytics Is Changing Modern Life
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"The Analytics Big Bang" traces predictive analytics from the dawn of the computer age in the 1940s through the present day, and cites compelling evidence indicating that the analytics industry is at an inflection point:
- Sales of analytics software grew from $11 billion to $35 billion between 2000 and 2012.
- The number of data scientist job posts jumped 15,000% from 2011 to 2012, according to statistics compiled by global job site Indeed.com.
- 2.5 quintillion bytes of so-called Big Data are being created each day, enabling analytics to become more insightful, precise and predictive than at any point in history.
"Predictive analytics is becoming the defining technology of the early 21st century," said Dr.
"Predictive analytics has clearly become one of the make-or-break capabilities for consumer-facing businesses," said Dan Vesset, program vice president of business analytics research at independent analyst firm IDC. "By combining individual-level behavior forecasts with optimization analytics that determine the right action for each context, organizations can create the kind of relevant, positive experience that builds revenue and customer loyalty. As these technologies move to the cloud, every business can learn to compete on analytics."
About FICO
FICO (NYSE: FICO) is a leading analytics software company, helping businesses in 80+ countries make better decisions that drive higher levels of growth, profitability and customer satisfaction. The company's groundbreaking use of Big Data and mathematical algorithms to predict consumer behavior has transformed entire industries. FICO provides analytics software and tools used across multiple industries to manage risk, fight fraud, build more profitable customer relationships, optimize operations and meet strict government regulations. Many of our products reach industry-wide adoption — such as the FICO® Score, the standard measure of consumer credit risk in
FICO: Make every decision count™.
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SOURCE FICO
Media, Joe Krakoviak for FICO, +1 201-452-7619, jkrakoviak@iqprinc.com; Investors, Steven Weber, +1 800 213 5542, investor@fico.com