Dresner Advisory Services published a new title in its Wisdom of Crowds research series – the 2022 ModelOps Market Study. ModelOps is the discipline of defining, implementing, monitoring, automating, and improving the life cycle of analytical models, including but not limited to artificial intelligence (AI) and machine learning (ML) models.
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For the purposes of this study, the team defined the models to include all types of artificial intelligence and machine learning, as well as less-sophisticated analytical and decision-intelligence models. This includes rules-based and decision-tree models instantiated in spreadsheets.
With the growing reliance on AI and ML for recommendation engines, predictive analytics, data-driven decision making and more, the strategic importance of ModelOps is becoming more and more apparent. There also is increasing awareness of the dangers of poor definition and management of data models.
“As the number of analytical models continues to explode, organizations need to better manage and govern the entire model life-cycle, cradle to grave,” said Brian Wood, Research Director at Dresner Advisory. “Although it is still early days, we believe ModelOps should be considered a strategic function. This new market study is valuable for all our readers, both end users and vendors.”
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According to the study, approximately half of all organizations are using data science and machine learning models, and adoption is increasing. Most end users report using 25 or fewer models, unless they work in marketing and sales. These groups use more. Respondents in the consumer services industry report the highest usage.
Dresner Advisory Services was formed by Howard Dresner, an independent analyst, author, lecturer, and business adviser. Dresner Advisory Services, LLC focuses on creating and sharing thought leadership for Business Intelligence (BI), Performance Management, and related areas.
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