"Successful analytics in the Big Data era does not start with data and software. It starts with practical training and targeted strategy," says Eric A. King, CEO of The Modeling Agency, LLC, a Pittsburghbased analytics training and consulting firm.

King sees a 'chronic dysfunction' between practitioners and leadership within organizations as they fail to speak a common language around analytics and grasp the true potential that lies in harnessing the power of predictive modeling. Most data analytic operations still involve ad-hoc, disparate and uncoordinated analytic exercises that often produce perfectly valid models but fail miserably at project level. "Overall, there is a lack of an organizational analytic charter, measured capabilities, resource assessment, prescriptive targets, project definition and strategic oversight. Thus, arriving at truly impactful projects proves to be far more a matter of soft skills than technical proficiency," says King.

He believes most of the professionals who suffer from antlodigiphobia (fear of flood of data) also experience peniagnosiophobia (fear of lack of knowledge). These data-rich yet information-poor organizations are therefore highly motivated to engage in predictive modeling. But they typically do not know where to begin in establishing an analytic practice that is truly insightful, purposeful and actionable.

"And the shortcomings are not where you’d think. You don't need a bench of advanced mathematicians and data scientists to make this work. Modern software handles the complexity in ways that allow common business practitioners to create highly effective models. But they require an overarching strategic framework, process training and skill reinforcement." King exclaims, "Organizations can set the right course not by outsourcing each analytic task, but by establishing their own agile predictive modeling factory with existing staff as a residual cost-saving or revenue-generating function within their overall BI practice."