The Process of Analytics and What it Does
Analytics refers to the interpretation, discovery, and overall communication of data patterns that have meaningful applications those patterns in a business’s decision making. It essentially applies statistics to recorded information to optimize the performance, sales, and operation aspects of a company. Analytics are gaining popularity in the business world with more and more companies using them for performance improvement. Analytics have a variety of special areas that benefit business. When using analytics, you are taking part of a threefold process.
Predictive
Predictive Analytics uses aspects like data mining, machine learning, and other predictive models to anticipate future events. It can be used to assess trends for retail or predict the function of new ventures. Business use predictive analytics to appropriately plan for the future. As they can be very accurate, they can boost the success of decision making. They take numerous factors into account such as: customers, employees, patients, vehicles, … Continue reading >>>







