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While BI tells you what has happened in the past and what is happening now (descriptiveanalytics), BA tells you what will happen in the future (predictive analytics). Descriptiveanalytics : As its name suggests, this analysis method is used to describe and summarize the main characteristics found on a dataset.
A business intelligence strategy is a blueprint that enables businesses to measure their performance, find competitive advantages, and use datamining and statistics to steer the business towards success. . Every company has been generating data for a while now. But what is a BI strategy in today’s world?
Combined, it has come to a point where dataanalytics is your safety net first, and business driver second. As a result, finance, logistics, healthcare, entertainment media, casino and ecommerce industries witness the most AI implementation and development. AI in Finance. Artificial Intelligence Analytics.
Data analysts leverage four key types of analytics in their work: Prescriptive analytics: Advising on optimal actions in specific scenarios. Diagnostic analytics: Uncovering the reasons behind specific occurrences through pattern analysis. Descriptiveanalytics: Assessing historical trends, such as sales and revenue.
All of the above points to embedded analytics being not just the trendy route but the essential one. Users Want to Help Themselves Datamining is no longer confined to the research department. Today, every professional has the power to be a “data expert.” Diagnostic Analytics: No longer just describing.
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