Advanced analytics uses machine learning, predictive modelling, advanced data visualisation or text mining to strengthen the role of data and improve business decision-making.
Predictive analytics interconnects data with advanced quantitative analytics with the aim of supporting fact-based decision making. What used to be called statistics, data mining, operations research, predictive modelling and later machine learning is nowadays mostly referred to as data science.
Top managers often lack access to information that would make their decision-making easier even though they have a number of reports available. However, the reports include too many indicators or, on the contrary, lack the key issues due to poor availability of data sources. Reports are often ill-structured, which prevents text understanding and correct data interpretation. Last but not least, the link between reporting and a company’s strategic goals or current projects is set up incorrectly. At Deloitte, we know the way out. We will help you with all of the described Business Intelligence (BI) areas.
The structured data analysis has been a standard part of the activities of most companies for a long time. Lately, they have seen the addition of non-structured data, namely that of the textual kind. Work with textual data is a time- and technology-intensive task. A great amount of data needs to be converted into a form that may be further processed and used in analyses. In recent days, however, technology has advanced to the degree where everything can be managed in a relatively short time.
Many companies have already started with data science, but only a few of them have really benefited from it. Poor ROI of analytical projects. Models often end up unimplemented. No executive ownership of data science. This is what we hear too often. We have helped our clients overcome those troubles and the lessons learnt are embedded into this unique offering for every company, no matter big or small.