Timeframe for analyzing the data has changed and it is time for predictive analytics. The advanced analytics that is considered the key to the productivity planning and to predictive analytics remains a number one requirement to stay competitive in the business world especially at an industrial level. Therefore, the main question is no longer why a company needs data analysts with a specific set of skills for managing big data, but how the company should build a dedicated unit with these type of professionals.
Currently the scenario includes the use of algorithms of the artificial intelligence like machine learning, deep learning and natural learning processing. The advanced analytics uses the datasets from the web, mobile apps and cloud and allows retrieving real-time information the goes beyond basic descriptive analysis of a time series. With the help of the advanced analytics it is possible to not only explain the past but by using the predictive analytics algorithms also to look into the future trends, redefining in such a way the timeframe of the analysis.
The advanced analytics enables a number of potential applications: neural networks, automated learning and machine learning, semantic, predictive analysis and analysis of a sentiment all the way to the data visualization. In the professional world of today technologies and applications that require specific analytics-oriented knowledge are still difficult to retrieve, nevertheless the analytics market in Italy is growing at 20% rate. There might be many different forms of analytics present in the variety of industries, starting from insurance, where the predictive analytics is already a standard tool of everyday work. UnipolTech offers its expertise to Unipol Group in order to derive value from the telematics data, leverage analytics for a better customer segmentation and pave the path to a custom B2B data monetization proposition.
Only 12% of the large enterprises and SMI investments are dedicated to the advanced analytics that indicates a serious delay, especially if we acknowledge that the analytics tools facilitate a better and deeper understanding of complex scenarios. Furthermore, the advanced analytics yields detailed insights for those in charge of the decision-making, especially if the decision is regarding the future of the business where predictive analytics finds its purpose.
The computational power along with the correct set of skills available in the company allow finding new meanings and insights that otherwise cannot be noticed. The advance analytics brings advantages in terms of costs, resources distribution and overall optimization of a decision-making process.