Advanced analytics
Advanced analytics is a data analysis methodology that uses predictive modeling, machine learning algorithms, deep learning, business process automation and other statistical methods to analyze business information from a variety of data sources.
Some analytics are retrospective, like descriptive and diagnostic analytics. These analyses pinpoint “what” happened and “why” it may have happened, and are great for general reporting.
More traditional analytics, like business analytics, is important for establishing KPIs and other metrics for business intelligence.
Then there’s more advanced analytics:
- Data mining
- Predictive analytics
- Prescriptive analytics
- Big data analytics