In the data economy, data is king. Today, any business – small, medium, or large – thrives on its data assets. The recent trend of offering data-driven insights as a service has opened up a profitable revenue channel for businesses. Cloud computing and hosted analytics have brought data-as-a-service to the desktops of ordinary business users, […]
How to Become a Business Intelligence Analyst
As with many buzzwords emerging from the intersection of business and technology, the phrase “business intelligence” (BI) is often misunderstood. In a nutshell, it refers to the skill and practice of extracting insights from data to realize new goals, strategies, trends, and values. A business intelligence analyst, working with a network of other knowledge workers (such […]
Are Data Scientists Needed in the Self-Service Analytics World?
As the world becomes increasingly data-driven, businesses are turning to self-service analytics to enable business users to perform their own data analysis tasks. In self-service analytics, business users can access and analyze data without assistance or support from IT personnel or data scientists. Direct access to ML-powered analytics platforms allows them to make better business […]
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 […]
Data Fabric Use Cases
Data is expanding in volume, variety, and sources; therefore, so is the business need for trustworthy, accurate, and timely data for on-demand “competitive intelligence.” Data fabric use cases offer a long-range technological solution for handling the myriad challenges that come with such a complex data ecosystem. This “converged platform,” designed with a unique architecture and […]
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 […]
Data Science 101
Data Science is an interdisciplinary field that allows businesses to study and analyze large volumes of data and derive meaningful information from it. It combines elements of artificial intelligence, machine learning (ML), and knowledge engineering to uncover insights from data. Data Science uses ML techniques such as supervised learning, unsupervised learning, deep learning, and reinforcement learning […]
The Future of Deep Learning
Deep learning (DL) became an overnight “star” when a robot player beat a human player in the famed game of AlphaGo. Deep learning training and learning methods have been widely acknowledged for “humanizing” machines. Many of the advanced automation capabilities now found in enterprise AI platforms are due to the rapid growth of machine learning […]
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 […]