What is business analytics ?
Business analytics is comprised of solutions used to build analysis models and simulations to create scenarios, understand realities and predict future states.
What happened in the past ?
- Statistical method used to search and summarize historical data in order to identify patterns or meaning.
- To produce the key performance indicators (KPIs) and metrics.
Why did it happen ?
- Helps identify anomalies and determine casual relationships in data with data mining, drill-down, data discovery and correlations.
What will happen in the future ?
- Classification, clustering, forecasting and outliers, time series models.
How can we make it happen ?
- Stochastic optimization to a modeling approach of the random probability distribution that explores several possible actions suggesting actions based on the results of descriptive and predictive analytics of a given dataset.