This article is an interview with Mike Rote, Director and Co-Founder of Teradata's Data Mining Lab. Subjects covered include:

Definition of advanced analytics: Answers questions and solves difficult, previously impossible problems by using advanced analytic techniques on data. Provides a broader context of insight and interpretation that more people can use. Allows organizations focus on their best customers.

Difference between advanced analytics and business intelligence: Traditional business intelligence answers the here, the now and some of the why of a given business situation. Advanced analytics is a predictive tool, and goes far deeper into the "why" of a situation and the likely outcomes.

Effect of advanced analytics on an organization: Helps identify trends and likely behaviors of suppliers, customers, partners and competitors. This insight lets organizations make cost-saving and profit-maximizing decisions.

Advanced analytics provide a competitive edge: Helps organizations do a better job attracting the right customers and positioning the right products to those customers. Offers insight in the present and foresight into the future ramifications of business decisions. Users can develop an overall customer management strategy, plus acquisitions modeling and fraud identification.

Key benefits of advanced analytics: Includes competitive differentiation and being able to more efficiently tailor product offerings for each customer, developing a marketing plan that fits projected outcomes and keeping the right amount of inventory.