Predictive analytics (PA) is a subfield of data analytics and business intelligence that deals with an in-depth analysis of past events and forecasts of future events. This specialized branch of data analytics combines the power of data mining, data modeling, artificial intelligence (AI), and machine learning (ML) to make probabilistic predictions of future events. Predictive analytics relies […]
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 […]
Using Big Data Analytics to Combat White-Collar Crime
In the era of globalized markets, burgeoning international trade, complex financial systems, ever-evolving compliance and regulatory landscapes, and rapid technology advancement, white-collar crime has unfortunately seen a significant uptick in scale, variety, and sophistication. Whereas white-collar crime used to conjure images of high-flying executives stealing from company coffers, the modern landscape is much more complex, […]
How Can My Business Make the Most Out of Analytical Resources and Skills?
Click to learn more about author Kartik Patel. Advanced Analytics is the new frontier of competition and business success. While some businesses have the luxury of employing data scientists and professional analysts to help them sift through and analyze data, others do not have the budget or the structure to support these roles and, even those […]
How Can My Business Get the Most Out of Self-Serve Advanced Analytics?
Click to learn more about author Kartik Patel. How does an organization help the self-serve advanced analytics model grow and thrive? Responsibility lies in a number of places within the enterprise. Data Analysts/Data Scientists: If the business is large enough and sophisticated enough to have data analysts or data scientists on its team, those individuals will […]
Red Hat Brings Predictive Models to Business Automation Portfolio
A recent press release reports, “Red Hat, Inc., the world’s leading provider of open source solutions, today announced the latest release of Red Hat Process Automation, unveiling new applied artificial intelligence (AI) capabilities for predictive decision modeling, and support for the development of process- and decision-based business applications using micro-frontend architectures. Together with additional enhancements […]
How Do You Prove the Value of Self-Serve Augmented Data Discovery?
Click to learn more about author Kartik Patel. How does one measure the effectiveness of a new augmented data discovery solution? Once the business has chosen data democratization and implemented a self-serve analytics solution, it must measure ROI & TCO and establish metrics that will compare business results achieved before and after the implementation. Without measurable […]
Successful Augmented Analytics Initiatives Do Not End with Implementation
Click to learn more about author Kartik Patel. The successful implementation of an augmented analytics solution for business users is not just about choosing a cost-effective tool and completing a timely deployment, nor does the process stop with training. In order to get business users to embrace and adopt self-serve augmented data discovery tools, the enterprise […]
What is Augmented Analytics and Can it Add Value to Business Intelligence?
Click to learn more about author Kartik Patel. The Merriam-Webster dictionary defines the word ‘augment’ this way: “to make greater, more numerous, larger or more intense.” If you are wondering how this applies to the term ‘Augmented Analytics’, you are not alone. Let’s take a closer look at Augmented Analytics and talk about why it has […]
What are the Necessary Components of an Advanced Analytics Solution?
Click to learn more about author Kartik Patel. Business markets and competition are moving much more quickly these days and predicting, planning and forecasting is more important than ever. It is also important to ensure that every team member is a real asset to the organization and can contribute their knowledge and skill with full Insight […]