Been two classes, brainstorming ones, too much of information had been discussed and i admit, i am completely new to this subject.
Business Intelligence is interesting and is vast. I would like to put down my thoughts about BI and predictive analyses here.
Too many videos and stuffs had been tweeted and posted already , To me BI is making some meaning or value out of numbers. How meaningful it is and how can it be used in the business transformation is all that matters.
It is a combination of
- Statistics
- Technology
- Strategies
- Business process
Most impressive topic was ‘Predictive Analysis’. I see them in my mails box every day, e-mails from Amazon giving me an option of what I might like to shop based on my previous purchases. I learnt more about this predictive analyses through web.
What is Predictive analytics?
Analyze trend or pattern in both historic and current data to identify opportunities. It is used for predicting the present and shape the future. It involves application of advanced algorithms and statistical technique to build a model.
This video explains it all,
Okay, now this is fascinating me. On the other hand, it is overwhelming when I think about the infrastructure this demands.
I look forward to learning more in the coming sessions.
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