Welcome to analytics post…
What is big data. As I told in my earlier post, it is a data of v3…
Variety, Volume, Velocity…
Analytics is also called computing the data for business intelligence purpose.
You may ask a question… why this many analytics you need.
Analytics is a vast subject being used in many business functions.
As per Forbes-Traditionally in business, work based around data analytics has been the domain of the IT techie, often working with “siloed” data which no one else would have easy access to, let alone a hope of understanding. Undoubtedly this is because most of the pioneering work has come out of university computer science and statistics departments, or R&D divisions of large tech companies.
The change is-But increasingly, businesses are looking to “democratize” this access to data. It has become apparent that embedding data and analytics throughout an organization, and ensuring its effects can be measured on every process, is often a more productive approach than attempting to impose data-directives in a top-down, centralized manner
The list of Analytics most popular in the business community
Customer Analytics: Understand what your customers really think about you and your products and interact with them more effectively to raise customer satisfaction levels
Marketing Analytics: Make your marketing more targeted and effective through campaign appraisal and analysis
Predictive Asset Maintenance: Increasingly sophisticated intelligent devices give you a wealth of data that can be analyzed to provide major changes in availability and operational cost management
Enterprise Performance Analytics: Understand the core value drivers of your business and on how and in which areas they impact profitability and financial performance
The definition of Analytics as for wiki
Analytics is the discovery, interpretation, and communication of meaningful patterns in data. Especially valuable in areas rich with recorded information, analytics relies on the simultaneous application of statistics, computer programming and operations research to quantify performance.
Social Media Analytics: Effective analysis of social media is a vital new information stream for today’s business. Delivered as an outsourced social media management service or an integral business process through Social Insight into Action
Advanced Planning & Scheduling: Optimize your operations, workforce and service levels for improved efficiency and reduced carbon footprint and cost
Fraud Management: Protect against tax and welfare fraud by finding patterns in data and alert for new potential attacks in Financial Services and Public Sector (tax and welfare)
Risk Analysis: Understand the risks facing your business and model risk scenarios to set the right business strategy
CFO Analytics (BPO Services): Analyze the performance of your core financial processes to stem revenue leakage, improve cashflow and margin, and achieve tighter operational control