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Understanding Prescriptive Analytics and the Benefits to Your Business

When businesses collect data, they do so with the ultimate goal of making better decisions. The data collected typically undergoes multiple levels of analysis, including analyzing historical information and making predictions of future outcomes. You can think of prescriptive analytics as the deepest level of data analysis, as it involves using the available information to

Predictive Analytics: Change the way you plan

Today’s competitive business environment is driven in large part by data analytics. By collecting and analyzing historical data, organizations can estimate what’s likely to happen in the future. This approach is the basis of predictive analytics. With a predictive analytics strategy in place, information such as previous sales, inventory levels, and customer behavior can be

Descriptive Analytics: What is it and how does it work?

Many businesses use descriptive analytics without even realizing it. From preparing sales reports for a particular period to calculating revenue, companies use descriptive analytics to understand what happened during their daily operations. It would be difficult to operate any business without using descriptive analytics. This type of analysis involves collecting essential data and drawing conclusions

The Power of Intelligent Analytics

It’s important for your business to be data-driven in today’s economic environment. However, a data-driven approach involves much more than just collecting and organizing data. You also need to analyze this data, uncover meaningful insights, and make relevant conclusions. Intelligent analytics is the primary process through which your business can derive value from collected data.

Next Steps: Leveraging Fast Data from Big Data

Just a few years ago, Big Data revolutionized how businesses make decisions. With the ability to collect and analyze data from diverse sources (such as IoT sensors, click streams, and application logs), businesses were able to uncover more valuable insights regarding their daily operations. Most companies now use Big Data to learn more about customer

Data Lake: The Key to Getting Value Out of Your Data

Data and analytics have become key components of how businesses operate. More than ever before, businesses rely on analytics to understand customer preferences, cut down on costs, and identify opportunities for growth. With an increased focus on big data and the unique insights it provides, data lakes have become popular assets for companies of all

7 Ways Artificial Intelligence is Taking Over the Manufacturing Industry

Supported by a robust sales force and tight cost controls, Pharm Ltd. experienced sustained double-digit growth over a number of years, only to find that their supply chain struggled to keep pace. In particular, the initial state of the company’s sales.

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