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Fundamentals of Prescriptive Analytics

Prescriptive analytics uses historical data to find the best course of action for the future. In a way, prescriptive analytics combines elements from both descriptive and predictive analytics to arrive at actual solutions. The increased preoccupation with everything “data” is now a mainstream trend. The analytics market is expected to reach $190 billion in 2023, growing […]

Advanced Analytics Use Cases

In 2023, organizations that switch to advanced analytics will be better positioned to leverage new opportunities in their respective industries. Increasingly, with the use of automated data analytics, companies are turning to analytics systems and advanced analytics use cases for strategy transformation and digital strategy.  Advanced analytics systems are gradually upgrading many companies, creating business […]

A Brief History of Business Intelligence

In 1865, Richard Millar Devens presented the phrase “Business Intelligence” (BI) in the “Cyclopædia of Commercial and Business Anecdotes.” He used it to describe how Sir Henry Furnese, a banker, profited from information by gathering and acting on it before his competition. More recently, in 1958, an article was written by an IBM computer scientist […]

A Powerful Pair: Modern Data Warehouses and Machine Learning

Artificial intelligence (AI) technologies like machine learning (ML) have changed how we handle and process data. However, AI adoption isn’t simple. Most companies utilize AI only for the tiniest fraction of their data because scaling AI is challenging. Typically, enterprises cannot harness the power of predictive analytics because they don’t have a fully mature data strategy. To […]

Machine Learning vs. Predictive Analytics

Predictive analytics and machine learning are extremely powerful tools used to predict future outcomes from large amounts of data. They help businesses gain insights, improve efficiency, and make informed decisions. With the big data space estimated to reach a value of $105 billion by 2027 (up from $37 billion in 2018), and 97% of organizations investing in big […]

What to Look for When Hiring a Data Analyst

Data analysts are specialists in statistics, mathematics, and computer science, enabling them to serve in a variety of departments, including operations analysis, financial analysis, and marketing analysis. A data analyst interprets data to influence business strategy, permitting firms to make data-driven pricing, scheduling, and other operational choices. Why Hire a Data Analyst? As declining margins, increased commoditization, […]

Analytics Solutions: Applications and Use Cases

Data and analytics are particularly critical to today’s businesses because they improve strategic decision-making. Analytics solutions and use cases provide customers with added value in health care, retail, higher education, manufacturing, and other industries that capture a lot of valuable data.  By harnessing different types of analytics available, organizations across varying industries can understand how products are […]

3 Common Business Intelligence Challenges

Typical business intelligence implementations allow business users to easily consume data specific to their goals and daily tasks. The ability to analyze both past and present events unlocks information about the current state and is essential for remaining competitive in today’s data-forward market. With that in mind, there are some common business intelligence challenges that […]