Data Analytics

Future Business Decisions with Prescriptive Analytics {Comments Off on Future Business Decisions with Prescriptive Analytics}

By Jerome F.

We live in an age where technology has far surpassed our expectations and has exponentially grown over the course of the past several decades. With these rapid technological advancements, it is has become more increasingly complex for organizations to examine data that will benefit their own business. Organizations remedy this issue by examining these raw data through the utilization of data analytics, a concept that is used by implementing three key ideas to create better efficient business decisions. Prescriptive analysis, the third and final phase in this process, wraps everything up and formulates recommended actions for organizations to move towards for desirable outcomes. read more...

Business Intelligence & Descriptive Analytics {Comments Off on Business Intelligence & Descriptive Analytics}

By Carlos A.

Business intelligence is the process in which a business collects data and information from its operations and environment to help make strategic decisions. Business intelligence includes many difference types of applications, systems, and tools that are used to collect data and give the data meaning. An important area of Business intelligence is descriptive analytics in which a company performs an analysis of data to gain insight into its business’s past performance (Bertolucci, 1). Descriptive analytics are a form of analytics that help describe what has happened in the past and make it easier to notice changes and trends in a business. read more...

Problem Solving Using Descriptive Analytics {Comments Off on Problem Solving Using Descriptive Analytics}

By Jeffrey A.

Descriptive analytics has to do very heavily with business intelligence. It is often considered the first step in gathering business intelligence because of its relation to big data, which is large collections of information gathered by corporations or other entities. This is often done for the purpose of developing reports or creating forecasts, but it is not possible without accurate and proper data collection methods. Other forms of analytics include predictive and inquisitive analytics that deal with different areas of analyzing data. Descriptive analytics is not to be confused with these though because they deal more with data after it has been organized and formatted. Descriptive analytics is the most important form of analysis when gathering business intelligence.
Descriptive analytics is very well described in an article by Bertolucci Big Data Analytics: Descriptive Vs. Predictive Vs. Prescriptive. Bertolucci defines descriptive analytics and its simplistic importance by saying “The purpose of descriptive analytics is to summarize what happened. Wu estimated that more than 80% of business analytics — most notably social analytics — are descriptive.” Not only is it the simplest but it is also the most basic and the other forms of analytics are vitally dependent on it. According to an article by Shankar V titled Business analytics driven students likings on social media there are many ways social media utilizes descriptive analytics. It is directly written “SNS contains exponential amount of user generated data which helps business analytics to analyze, summarize information for displaying proactive alerts in dashboards.” It gathers data through surveys or through monitoring habits of its users. Using this raw data, it can formulate specific advertisements for users that will appear on their webpages while they browse. It allows them a more responsive way to interact with users. It can also collect data on usage of certain web applications and can better help monitor for errors or malfunctions that could cause irritation for the user. Another article titled Big data in Government Services gives examples of how government agencies collect data and how they use it. The many uses include combatting terrorism and crime prevention by gathering data from convicts. “IBM has a big data analysis platform known as IMB Watson Foundation that has the capability to create solution of all data related to many government duties like threat prediction and protection, social program fraud, tax compliance, and crime prediction and prevention.” The IBM Watson Foundation provides a perfect example on what descriptive analytics can provide to the world. This massive collection of formulated data causes tremendous good, and it genuinely benefits the world.
Other forms of business intelligence are incredibly important, such as predictive analytics, inquisitive analytics, and prescriptive analytics. Each has an important part in gathering information for businesses, though they offer less importance in the big picture. Descriptive analytics allows businesses to firmly address the issues and the questions, and without a firm understanding other forms of analytics can do very little. It takes great understanding to make an informed decision and that is precisely what descriptive analytics specializes in.

Citation
Shankar, V. (2014). Business analytics driven students likings on social media. Advances in Management, 7(12), 22. read more...

Databases and Technology in Politics {Comments Off on Databases and Technology in Politics}

By Tony W.

With the onset of the information age, databases and various sorts of technology have been playing a large role in politics around the world and in the United States. Nearly All successful political campaigns are using data in a meaningful way. Being able to understand it and take advantage of it can be the key to winning an election. read more...

IoT Application and Analysis {Comments Off on IoT Application and Analysis}

By Jonathan Tr.

Technology today is growing faster than ever and improving the way we live in multiple ways. Cloud technology is now wirelessly collecting data from everyday physical objects embedded with sensors, chips, onboard computers, and so on. It’s changing the way we do habitual things like eat, sleep, and exercise while simultaneously collect and store all the data. Tech giants today like Google, Amazon, Microsoft, Cisco, IBM, Intel, and many more, are realizing the potential of this real time data and offer a variety of unique ways in processing all that raw data to turn into information for the rest of the world. One of the many problems with all this real-time data is how we can analyze this data to build IoT applications and benefit consumers and the industry. read more...