Many businesses are just discovering the benefits of self-serve business intelligence and establishing data democratization initiatives but, as every business manager and team member knows, business markets and competition move rapidly and yesterday’s business intelligence initiatives are morphing into advanced analytics efforts. As businesses consider the transition, it is important to understand the advantages of advanced analytics.
The term ‘Advanced Analytics’ can seem daunting to the average business user and even to the average business enterprise but the process is not as complex as it may seem.
Advanced Analytics is comprised of numerous sophisticated analytical techniques, designed to parse, explore and analyze data and produce results to support business decisions. Fortunately, today’s new self-serve business intelligence solutions allow for ease-of-use, bringing together these varied techniques in a simple interface with tools that allow business users to utilize advanced analytics without the skill or knowledge of a data scientist, analyst or IT team member. Advanced Analytics provides a 360 degree view of data from data marts, data warehouses, best-of-breed, legacy systems and other data sources. The analytical techniques and algorithms are designed to identify patterns and trends, pinpoint issues and the root cause of these issues and allow the enterprise to capitalize on opportunities and accurately plan for the future.
