Rocket-Powered Data Science

OCTOBER 6, 2023

Using the same statistical terminology, the conditional probability P(Y|X) (the probability of Y occurring, given the presence of precondition X) is an expression of predictive analytics. By exploring and analyzing the business data, analysts and data scientists can search for and uncover such predictive relationships.

Business Analytics 157

Business Analytics Prescriptive Analytics Analytics Diagnostic Analytics 157

IBM Big Data Hub

SEPTEMBER 19, 2023

Though you may encounter the terms “data science” and “data analytics” being used interchangeably in conversations or online, they refer to two distinctly different concepts. For example, retailers can predict which stores are most likely to sell out of a particular kind of product.

Data Science 78

Data Science Data Analytics Prescriptive Analytics Analytics 78

IBM Big Data Hub

JULY 27, 2022

Refer to the lower part of the diagram below (box 3: Environment), which represents the environments where the workloads run. The AIOps engine is focused on addressing four key things: Descriptive analytics to show what happened in an environment. Predictive analytics to show what will happen next.

Prescriptive Analytics 93

Prescriptive Analytics Descriptive Analytics Data-driven Cost-Benefit 93

BizAcuity

MARCH 31, 2022

Enterprise Artificial intelligence (AI) is a common jargon used to refer to how an organization integrates artificial intelligence (AI) into its infrastructure to drive digital transformation. Artificial Intelligence Analytics. The aim of predictive analytics is, as the name suggests, to predict and forecast outcomes.

Data Analytics 52

Data Analytics Analytics Prescriptive Analytics Predictive Analytics 52

Smart Data Collective

MARCH 11, 2022

Data analytics can assist you in figuring out why people abandon your brand or prefer alternative products instead. Predictive analytics, which analyses historical activities to uncover trends and forecast a specific event, can also predict if a customer is ready to churn or defect. Customer Experience Analytics.

Customer Analytics 116

Customer Analytics Analytics Key Performance Indicator Big Data 116

datapine

JANUARY 31, 2022

Business intelligence can also be referred to as “descriptive analytics”, as it only shows past and current state: it doesn’t say what to do, but what is or was. 5) Find improvement opportunities through predictions. The responsibility to take action still lies in the hands of the executives.

Business Intelligence 214

Business Intelligence Analytics Cost-Benefit ROI 214

FineReport

APRIL 26, 2023

This has led to the emergence of the field of Big Data, which refers to the collection, processing, and analysis of vast amounts of data. The term “Big” does not only refer to its size, but also to its capacity to acquire, organize, and process information beyond the capabilities of traditional databases.

Big Data 52

Big Data Data Analytics Analytics Cost-Benefit 52