Most technology is introduced along with an array of cool-sounding, semi-technical marketing terms. How else are you going to differentiate your “new” product or service from the same stuff you were selling last year?
Usually, the created terms are so generic they are almost meaningless
At first glance, Insight Driven Analytics might get lumped in with that ilk. However, let me make a case for it to be usefully descriptive of artificial intelligence and predictive analysis applied to a company’s operational data.
First, the term Insight Driven is not novel when talking about technology for business uses. A quick search shows the words have been used together to describe different technologies applied to analytics for several decades at least (substitute reporting or query for analytics and you still find “Insight Driven Reporting”). I fully admit that is a hard strike against using the term.
However, the actual words do adequately, appropriately and almost completely describe the current situation for predictive analytics in data analysis.
Artificial intelligence and predictive analytics really is the extension of business intelligence from simply reporting what happened in the past – aka descriptive analytics. Predictive analytics trends and predicts processes and activities not realistically possible with traditional descriptive analytics or even the best dashboard presentation.
Knowing trends and likelihoods of future activities are virtually the definition of insight. Making smart changes to improve future outcomes based on that insight does justify the phrase “Insight Driven”.