There is currently quite a buzz around the concept of advanced analytics, as organisations look to predict future outcomes more effectively, based on a detailed understanding of what has actually happened in the past rather than testing theoretical hypotheses based on statistical analysis.

Put simply, the better the analysis, the better-informed decisions will be around anticipating – and responding effectively to – future demand.      

Like many emerging management tools, it is easy to overstate the importance or complexity of the concept. At one level, advanced analytics is simply today’s way of mining information when presented with a lot of customer information.

And this applies whether in a CRM system, a traditional structured set of sales reports or looking to analyse product perceptions from the blogosphere.

Yet the value of the resulting intelligence – whether derived from a front-end CRM system or at the back-end in improving data management – is undeniably powerful in …