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Data exploded and became big. Spreadsheets finally took a backseat to actionable and insightful data visualizations and interactive business dashboards. The rise of self-service analytics democratized the data product chain. Suddenly advanced analytics wasn’t just for the analysts.
Predictive & PrescriptiveAnalytics. Predictive Analytics: What could happen? We mentioned predictive analytics in our business intelligence trends article and we will stress it here as well since we find it extremely important for 2020. PrescriptiveAnalytics: What should we do? Cognitive Computing.
Customer 360 (C360) provides a complete and unified view of a customer’s interactions and behavior across all touchpoints and channels. This view is used to identify patterns and trends in customer behavior, which can inform data-driven decisions to improve business outcomes. Then, you transform this data into a concise format.
Supplier metadata: Important for data acquired from external sources, it includes details about those sources, and subscription or licensing constraints. Source: Introduction to Data Catalogs by Dave Wells. Finally, data catalogs leverage behavioral metadata to glean insights into how humans interact with data.
Predictive Analytics assesses the probability of a specific occurrence in the future, such as early warning systems, fraud detection, preventative maintenance applications, and forecasting. PrescriptiveAnalytics provides precise recommendations to respond to the query, “What should I do if ‘x’ occurs?”
The most important education/familiarity (as you ask it) in my view is to understand or be intrigued with how humans take decisions; a desire to learn how we think and behave; and a working knowledge for how a business outcome, process and datainteract. where performance and dataquality is imperative?
Revisiting the foundation: Data trust and governance in enterprise analytics Despite broad adoption of analytics tools, the impact of these platforms remains tied to dataquality and governance. times more likely to report successful analytics initiatives compared to those with ad hoc approaches.
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