Making advanced analytics work for you
- 1. Making Advanced Analytics Work for You by Dominic Barton and David Court
- 3. • Identify, combine, and manage multiple sources of data
- 4. • Build advanced analytics models for predicting and optimizing outcomes
- 5. •Advanced Analytics is the autonomous or semi- autonomous examination of data or content using sophisticated techniques and tools, typically beyond those of traditional business intelligence (BI), to discover deeper insights, make predictions, or generate recommendations
- 6. New big data technologies enable cost-effective storage, processing and analysis of large amounts of data • Modern and intuitive user interfaces allow more user groups to draw insights and make informed decisions • Advanced analytics software enables better analysis, and analysis of relationships and future events.
- 7. An important characteristic of advanced analytics projects is the comparatively high risk of failure
- 8. There is less guarantee that advanced analysis will deliver the results expected
- 9. Furthermore, users of advanced analytics methods should have expertise in working with probabilities. While classic professional reports almost always produce the correct numbers, the probabilities generated by advanced analyses have to be interpreted
- 10. The quality of a sales forecast or customer classification must therefore not only be noted and communicated for every single analysis, but also continuously monitored and optimized
- 11. How to exploit big data ? • Choose the Right Data • Get the necessary IT support • Build Models That Predict and Optimize Business Outcomes
- 12. • Develop business-relevant analytics that can be put to use • Develop capabilities to exploit big data
- 13. •Name – Saurabh Sethia •Mail id- saurabhsethia12@gm ail.com