Analytics in a Nutshell

By Samuel Greengard 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

This article was originally published on 2010-02-04
Samuel Greengard is a freelance writer for Baseline.
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