Businesses are collecting more data about their operations and their customers than ever before. But data in itself is only part of the story. For it to be useful it’s necessary to spot patterns and gain insights.
At this point most businesses turn to analytics, but this can only tell you what’s happened in the past. To predict future trends means using algorithms to build models of what may be complex systems. So, is it time to abandon analytics and turn to modeling? Or do businesses really need to embrace both? We spoke to Michel Morvan, co-founder and executive chairman of complex modeling specialist The CoSMo Company to find out more.
Author: Ian Barker