What’s the difference between business analytics and data analytics?
Business Analytics incorporates the skills, technologies, processes and practices to explore and understand exploration historical business performance and use that insight for business planning and issue resolution.
This Partner is a leading system integrator for public and private sector organizations in India. This System Integrator has a wide network of consultants and technology experts through which they achieve and support a presence across countries like the UK, US and India.
You have probably heard a lot about the concept of Citizen Data Scientists in industry conferences and journals. Whether you are managing a business, or a team or you are a team member in a business, you should take heed of these discussions as they will definitely change the landscape of every type of business from start-ups and small companies to large enterprises, and you would be wise to get on board.
Assisted predictive modeling! The term sounds complex and intimidating, doesn’t it? But nothing could be further from the truth. The word ‘assisted’ is the key! It is true that without the skills and knowledge of a data scientist or a business analyst, predictive analysis can be a daunting task.
Predictive analytics is more refined, more dependable and more comprehensive than ever. The foundation for predictive analysis is a great predictive analytics tool, and features and function that include assisted predictive modeling.
As one of its Strategic Assumptions, Gartner predicted that ‘By 2020, more than 40% of data science tasks will be automated, resulting in increased productivity and broader usage by citizen data scientists.’ Gartner also predicts that the number of Citizen Data Scientists will grow five times faster than the number of expert data scientists through 2020, and that by 2019 the amount of advanced analytics produced by citizen data scientists will surpass that produced by data scientists.
Smart data discovery is not dependent on a few geniuses sitting in a science lab somewhere! With appropriate data discovery tools your team members can leverage their knowledge of their role and domain, and the needs of their division, team or business unit to find the data and insight that is most meaningful to them.
When a start-up or small business looks at its budget and resources, it often concludes that, while data analytics is important to its business, data analytics tools may be too complex, too sophisticated and too expensive to include in its initiatives and programs.
When we use terms like ‘predictive analytics’, it sometimes puts off the general business population. Team members might envision everything from a crystal ball to complex charts and graphs with unreadable numbers and conclusions. While predictive analytics techniques and predictive modeling does include complicated algorithms.
We all understand the value and innovation inherent in natural language processing (NLP). Think about the ease of searching for the answer to a question on Google. Users with average skills can ask a question and get an answer, a list of search results that address their interests and support and assistance to take the next step.
