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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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What is data analytics? Analyzing and managing data for decisions

CIO Business Intelligence

The chief aim of data analytics is to apply statistical analysis and technologies on data to find trends and solve problems. Data analytics has become increasingly important in the enterprise as a means for analyzing and shaping business processes and improving decision-making and business results.

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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? Fortunately, advances in analytic technology have made the ability to see reliably into the future a reality.

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

CIO Business Intelligence

The company also wanted to improve forecasting accuracy by harnessing the power of intelligent technologies. Shifting descriptive analytics to predictive analytics is a huge undertaking for most companies in their digital transformation. This hampered the company from having an enterprise-wide view.

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Decoding Data Analyst Job Description: Skills, Tools, and Career Paths

FineReport

Rapid technological advancements and extensive networking have propelled the evolution of data analytics, fundamentally reshaping decision-making practices across various sectors. Data analysts leverage four key types of analytics in their work: Prescriptive analytics: Advising on optimal actions in specific scenarios.

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Prescriptive Analytics – a Winning Bet for Casinos

BizAcuity

This is what makes the casino industry a great use case for prescriptive analytics technologies and applications. 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.

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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.