Advanced analytics

Advanced analytics is a data analysis methodology that uses predictive modeling, machine learning algorithms, deep learning, business process automation and other statistical methods to analyze business information from a variety of data sources.

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Types of Advanced Analytics

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Descriptive

Focuses on the aggregation of data to form a profile that describes what happened.

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Diagnostic

Answers why something happened.

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Predictive

Attempts to estimate what could happen if certain conditions are met.

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Prescriptive

Focuses on how to achieve a particular outcome.

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With advanced analytics, you can

Encourages progressive thinking

Advanced analytics helps business leaders take a more proactive and anticipatory approach to managing operations. Their lines of sight are extended, which trickles through the entire organization.

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More accurate decision-making

Fact-based information typically results in better decision-making than decisions based on intuition or experience alone.

Less time on reporting, more time for strategy

Advanced analytics frees employees to concentrate on other valuable work. By automating data sorting, cleaning and analysis more time can be spent on strategic endeavors.

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