Data Analytics can help you better understand the various parts of your business so you can make more informed and thus better decisions. In this context, understanding the various parts of your business could include changing the business strategy, or improving the business model or processes. It could also mean understanding and managing the risk associated with the business, and in doing so, future proofing the business thereby ensuring its sustainability. Descriptive AnalyticsDescriptive Analytics uses data aggregation and data mining to provide insight into the past and answer the question: 'What has happened?' Descriptive analytics includes the collection, cleansing, organisation, analysis, interpretation, and presentation of data in order to summarise and present historical information, find answers to difficult questions, and facilitate knowledge discovery. According to Information Week, more than 80% of data analytics is descriptive. Examples of Descriptive Analytics include:
Predictive AnalyticsPredictive Analytics brings together advanced analytics capabilities spanning ad-hoc statistical analysis, predictive modeling, data mining, text analytics, optimization, real-time scoring and machine learning. These tools help organizations discover patterns in data and go beyond knowing what has happened to anticipating what is likely to happen next. Prescriptive AnalyticsPrescriptive Analytics provides organizations with recommendations around optimal actions to achieve business objectives such as customer service, profits, and operational efficiency. Prescriptive analytics solutions use optimization technology to solve complex decisions with millions of decision variables, constraints and trade-offs. They provide prescriptive insights whether you want to decide on a configuration, a design, a plan or a schedule. Would You Like To Make An Appointment?Call us on 07 3040 6100 or email us at reception@bainbridge.com.au |
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