article thumbnail

What is data analytics? Analyzing and managing data for decisions

CIO Business Intelligence

More specifically: Descriptive analytics uses historical and current data from multiple sources to describe the present state, or a specified historical state, by identifying trends and patterns. In business analytics, this is the purview of business intelligence (BI). Data analytics methods and techniques.

article thumbnail

7 famous analytics and AI disasters

CIO Business Intelligence

Organizations across every industry have been and continue to invest heavily in data and analytics. But like oil, data and analytics have their dark side. According to CIO’s State of the CIO 2022 report, 35% of IT leaders say that data and business analytics will drive the most IT investment at their organization this year.

Analytics 140
Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

Trending Sources

article thumbnail

McKesson: Using Big Data to Improve Care and Save Lives

Sisense

Big data, analytics, cloud computing, data mining, data science — the buzzwords of the modern data and analytics industry — have taken every business and organization by storm, no matter the scale or nature of the business.

article thumbnail

Augmented Analytics Algorithms and Techniques: Learning for Citizen Data Scientists

Smarten

This article summarizes our recent article series on the definition, meaning and use of the various algorithms and analytical methods and techniques used in predictive analytics for business users, and in augmented data preparation and augmented data discovery tools.

article thumbnail

What is the Chi Square Test of Association and How Can it be Used for Analysis?

Smarten

Finance – An organization might use this technique to Identify if demographic factors influence banking channel/product/service preference or selection of a type of term plan of an insurance etc. How Can the Chi Square Test of Association Be Used for Business Analysis?

Testing 40
article thumbnail

What is the Holt-Winters Forecasting Algorithm and How Can it be Used for Enterprise Analysis?

Smarten

Business Benefit : Helps in planning for repeat telecast and for more advertisement (fund raising) if the projected count of viewers is high. Business Problem : Insurance claim manager wants to forecast policy sales for next month based on past 12 months data. 2) Double Exponential Smoothing Use Case.

article thumbnail

AI+BI: Augmented analytics will soon bring data-driven insight to the masses

Birst BI

The BI system can discover business-critical relationships in the data and automatically build visualizations and dashboards.