Smarten

JUNE 20, 2018

The business can use this information for forecasting and planning, and to test theories and strategies. In this article, we will focus on the identification and exploration of data patterns and the trends that data reveals. Linear Trend. A linear pattern is a continuous decrease or increase in numbers over time.

Forecasting 40

Forecasting Statistics Business Intelligence Predictive Modeling 40

Smarten

JUNE 29, 2018

Here, the dependent variable would be ‘Purchase Amount’ Business Benefit: Once the test is completed, a p-value is generated which indicates whether there is a statistical difference between the purchase amounts of both segments.

Testing 40

Testing Statistics IT Business Intelligence 40

Smarten

JUNE 27, 2018

In this example, the segments that have a response rate higher than the overall response rate can be targeted first since they will require less effort to convert to a purchase, whereas a different marketing strategy must be devised for the lower segments (segments that have a response rate less than the overall rate).

IT 40

IT Business Intelligence Predictive Modeling Statistics 40

datapine

MARCH 25, 2022

There is not a clear line between business intelligence and analytics, but they are extremely connected and interlaced in their approach towards resolving business issues, providing insights on past and present data, and defining future decisions. What’s the difference between Business Analytics and Business Intelligence?

Business Intelligence 264

Business Intelligence Analytics Statistics Dashboards 264

Rocket-Powered Data Science

OCTOBER 6, 2023

Decades (at least) of business analytics writings have focused on the power, perspicacity, value, and validity in deploying predictive and prescriptive analytics for business forecasting and optimization, respectively. This is predictive power discovery. They are sentinel, precursor, and cognitive analytics.

Business Analytics 157

Business Analytics Prescriptive Analytics Analytics Diagnostic Analytics 157

Smarten

JUNE 26, 2018

Business Problem: A retail store manager wants to conduct Market Basket analysis to come up with better strategy of products placement and product bundling. Business Benefit: The darker segments reveal the ideal methods of product bundling and placement to increase cross-sales. Use Case – 1.

Business Intelligence 40

Business Intelligence Sales Predictive Modeling Statistics 40

Smarten

JUNE 29, 2018

To understand the value of this applied technique, let’s consider two business use cases. Business Problem: A retail store manager wants to conduct Market Basket analysis to come up with a better strategy of product placement and product bundling. Use Case – 1.

Business Analysis 40

Business Analysis IT Business Intelligence Sales 40

datapine

JANUARY 31, 2022

Experience the power of Business Intelligence with our 14-days free trial! Driving performance and revenue is one of the relevant benefits of business analytics. A great way to illustrate the operational benefits of business intelligence. 5) Find improvement opportunities through predictions.

Business Intelligence 214

Business Intelligence Analytics Cost-Benefit ROI 214

datapine

NOVEMBER 27, 2019

But the BI landscape is evolving and the future of business intelligence is played now, with emerging trends to keep an eye on. In 2020, BI tools and strategies will become increasingly customized. Source: Business Application Research Center *. Share the essential business intelligence trends among your team!

Business Intelligence 361

Business Intelligence Analytics Prescriptive Analytics Data Quality 361

Smarten

JUNE 21, 2018

Business Problem : Insurance claim manager wants to forecast policy sales for next month based on past 12 months data. Business Benefit : If projected claims are lower than expected then proper marketing strategy can be devised to improve sales. Data Pattern : Input data exhibits level and strong upward trend but no seasonality.

Forecasting 40

Forecasting Enterprise IT Predictive Modeling 40