Management Science – Analytics for Business Improvement
Business Analysis and Leveraging the Emerging Analytic Techniques
By: Frank Kowalkowski
Predictive analytics is a hot buzz word today. However, predictive analytics is just one of several categories of business analytics that can be applied to the variety of business problems that confront management today. New categories of analytic techniques are now available that yield greater insight for achieving a specific solution.
Companies understand the value of applying different analytic techniques to their caches of data they have been gathering and cleaning for the past 10 to 15 years. Now, more complex problem solving situations are prompting analysts to delve deeper into the data they have, regardless of its form - text, quantities, images, sound clips or any other source of information about the enterprise and its external environment. Effective analysis of both internal and external data provides valuable insight into the behavior of customers, employees, suppliers and others
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