Advanced Analytics
Only 13% of companies make full use of open source Predictive Analytics, while less than 3% obtains the real value Prescriptive Analytics may provide
Attending to value and sophistication degree, Analytics is organized in 3 levels
Descriptive & Diagnostic Analytics, backward looking
Summarize recent and historical data. Examples include dashboards, graphs, statistics, trend models, data visualizations and drill-downs. Analytics allow us to determine the root causes of events.
Predictive Analytics, forward looking
Use a variety of advanced statistical, modeling, and machine learning techniques that study historical data in order to make probabilistic predictions.
Prescriptive Analytics, Next Best Action
Add tracked outcomes to suggest a best course of action by means of operational optimization strategies.
There is no “one-size-fits-all” solution at the intersection of business needs and advanced analytics. Knowledge, expertise and the current technologies evolution enable the availability of open source predictive analytics as a service approach. It provides the power of predictive models, machine learning techniques and others easier and faster than ever before.
Applications of advanced analytics techniques are large and can be complex in some cases.
