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Three Types of Actionable Business Analytics Not Called Predictive or Prescriptive

Rocket-Powered Data Science

Cognitive Analytics – this analytics mindset approach focuses on “surprise” discovery in data, using machine learning and AI to emulate and automate the cognitive abilities of humans. These may not be high-risk discoveries, but they could be high-reward discoveries. How does that resemble human cognitive abilities?

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Improve Underwriting Using Data and Analytics

Cloudera

In this post, I’ll explore opportunities to enhance risk assessment and underwriting, especially in personal lines and small and medium-sized enterprises. Utilizing a variety of data sources creates a more accurate picture of risks. Insurance carriers are always looking to improve operational efficiency. Step one: gather the data.

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What is data analytics? Analyzing and managing data for decisions

CIO Business Intelligence

To ensure robust analysis, data analytics teams leverage a range of data management techniques, including data mining, data cleansing, data transformation, data modeling, and more. What are the four types of data analytics? In business analytics, this is the purview of business intelligence (BI).

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Seven Steps to Success for Predictive Analytics in Financial Services

Birst BI

Every day, these companies pose questions such as: Will this new client provide a good return on investment, relative to the potential risk? Is this existing client a termination risk? Today, the most common usage of business intelligence is for the production of descriptive analytics. .

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How Freudenberg Home and Cleaning Solutions Makes Better Decisions with Enterprise-Wide Planning

CIO Business Intelligence

Shifting descriptive analytics to predictive analytics is a huge undertaking for most companies in their digital transformation. They not only make it difficult to get an overall picture across the entire company but also make businesses vulnerable to possible risks.

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Prescriptive Analytics – a Winning Bet for Casinos

BizAcuity

The need for prescriptive analytics. Prescriptive analytics is the area of business analytics (BA) dedicated to finding the best course of action for a given situation. Thus arrives the need for casinos to adopt such new strategies and approaches towards business to stay ahead.

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What Is The Difference Between Business Intelligence And Analytics?

datapine

While BI tells you what has happened in the past and what is happening now (descriptive analytics), BA tells you what will happen in the future (predictive analytics). Descriptive analytics : As its name suggests, this analysis method is used to describe and summarize the main characteristics found on a dataset.