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

FineReport

Predictive analytics: Forecasting likely outcomes based on patterns and trends to facilitate proactive decision-making. Data analysts contribute value to organizations by uncovering trends, patterns, and insights through data gathering, cleaning, and statistical analysis.

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What is SVM Classification Analysis and How Can It Benefit Business Analytics?

Smarten

How Can SVM Classification Analysis Benefit Business Analytics? Let’s examine two business use cases where SVM Classification can benefit the organization. Fraud Analysis – Based on various bills submitted for employee reimbursement for food, travel, medical expenses etc., Use Case – 1. Use Case – 2.

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A Guide To The Methods, Benefits & Problems of The Interpretation of Data

datapine

More often than not, it involves the use of statistical modeling such as standard deviation, mean and median. Let’s quickly review the most common statistical terms: Mean: a mean represents a numerical average for a set of responses. Standard deviation: this is another statistical term commonly appearing in quantitative analysis.

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How to Leverage Machine Learning for AML Compliance

BizAcuity

Anti-Money Laundering (AML) is increasingly becoming a crucial branch of risk management and fraud prevention. In fact, online casinos as an industry carries the biggest risk of money laundering. For predictive analytics to deliver high accuracy, a lot depends on the combination of domain knowledge and technical expertise.

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How to Leverage Machine Learning for AML Compliance

BizAcuity

Anti-Money Laundering (AML) is increasingly becoming a crucial branch of risk management and fraud prevention. In fact, online casinos as an industry carries the biggest risk of money laundering. Predictive Analytics. Predictive Analytics can help businesses in reducing risk (eg.

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What is Outlier Analysis and How Can It Improve Analysis?

Smarten

For example, if an outlier indicates a risk or a mistake, that outlier should be identified and the risk or mistake should be addressed. All of these tools are designed for business users with average skills and require no special skills or knowledge of statistical analysis or support from IT or data scientists.

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