Analytics

Today, the hype surrounding data analytics has converted into real, documented returns for companies of all sizes and across all industries. Many companies have achieved double-digit returns on their investments (ROI) in analytics for several years now. Partly because of this, the software analytics space is more crowded than it has ever been. Standard ETL-solution providers are adding analytics to their multitude of offerings. Many of these new players in the Master Data Management (MDM) field have BI platforms that combine integration, preparation, analytics and visualization with governance and security features.

Such standard analytics processes as column dependencies, clustering, decision trees, and recommendation engines are all included in many of these new software offerings. Instead of forcing clients to purchase modules on top of modules on top of modules, new software companies are creating packages that contain many built-in analytical functions. Thanks to built-in connectors, open source products like R, Python, and the WEKA collection can easily be slotted into many of ETL, MDM, BI, CI, CX and MA software solutions, thereby reducing costs and the need for expensive translation layers.

Intelligencia can help businesses understand not just the individual software solutions, but also how the available options will fit within your unique business structure. 

What exactly is analytics? Well, the standard answer is that there are four different types of analytics and they are:

  • Descriptive analytics – What happened?
  • Diagnostic analytics – Why did it happen?
  • Predictive analytics – What will happen?
  • Prescriptive analytics – How can we make it happen again?

“Analytics and business intelligence solutions deliver, on average, $13.01 for every dollar spent...the truth is, leading companies have been achieving double-digit return on investment (ROI) from their analytics investments for several years now.”

Annie Eissler

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October 10, 2018

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