What is Advanced Analytics?
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.
Advanced analytics techniques include those such as data/text mining, machine learning, pattern matching, forecasting, visualization, semantic analysis, sentiment analysis, network and cluster analysis, multivariate statistics, graph analysis, simulation, complex event processing, neural networks.
It encompasses a wide range of sophisticated methods for analyzing data. These include machine learning algorithms such as deep learning; natural language processing (NLP) for understanding text-based data; predictive modeling; artificial intelligence (AI); computer vision; and many more.
These techniques can help gain valuable insights from large and complex datasets. We’ve seen it become increasingly popular for businesses and industries looking to unlock new opportunities and gain a competitive advantage.
How Scribble Data enables advanced analytics
Anomaly Detection | Scenario planning | Recommendations | Risk Management
5 Advanced Analytics Benefits For Your Organization
Advanced data analytics is a powerful tool for businesses that want to gain insights from their data. Advanced data analytics can provide unprecedented visibility into customer trends and preferences through sophisticated algorithms and technologies. Organizations can use these insights to identify new opportunities or better understand customer behavior. According to a McKinsey study, organizations that […]Read More
Harnessing the Power of Big Data and Advanced Analytics
International Data Corporation (IDC) predicts that by 2025, the amount of data generated worldwide will reach 163 zettabytes, growing at a CAGR of 44%. Not just that, Gartner predicts that by 2025, AI-driven automation will reduce data preparation time by 95%, enabling organizations to analyze vast amounts of data in real-time. Walmart, the world’s largest […]Read More
Advanced Analytics: Techniques, Examples, and Benefits
Data is the most important asset for any modern organization, backing most business-critical decisions today. However, fully capturing the potential of the company’s data sources, so that they start yielding impactful business insights, is not a straightforward task and the traditional BI and analytics stack is just not at the level to handle the complex […]Read More
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