Analytics in a Nutshell

By Samuel Greengard  |  Posted 2010-02-04 Email Print this article Print

Here are some key components to today’s business analytics solutions.

Data and Text Mining: Enables users to sift through data to build descriptive and predictive models.

Data Visualization: Provides insights through data aggregation and dynamic data visualization.

Forecasting: Uses past and current data to predict future outcomes.

Operations Research and Analysis: Enables organizations to manage optimization, and use project scheduling and simulation techniques to pinpoint actions and behavior that drive performance.

Quality Improvement: Enables organizations to identify, monitor and track quality initiatives over time.

Statistical Analysis: Offers the ability to cull and sift through data to produce statistical models that drive decision making.

See Also Business Intelligence and Business Analytics Big Time

Samuel Greengard is a freelance writer for Baseline.

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