Traditional BI tools, which use descriptive and predictive analytics, provide insights based on accumulated data. Prescriptive analytics, which is the latest stage in the field of business analytics, goes far beyond by proposing actions that the business can take to maximize profit or mitigate risks. It can be considered as the apex of a cutting-edge analytic capability. … [Read more...] about How to Select the Right Prescriptive Analytics Technique for Your Business
techniques
5 Interview Questions for Your Next Big Data Vendor
It's easy to have unrealistic expectations of big data companies considering all the hype surrounding big data and predictive analytics. If you need to choose a big data vendor, you have an increasing number of options, but it's important to go into the decision with realistic expectations about what you want big data to do for you. Let's dive a bit deeper in selecting the … [Read more...] about 5 Interview Questions for Your Next Big Data Vendor
Statistics Denial, Myth #1: Traditional Techniques Straw Man
"You cannot reason people out of a position that they did not reason themselves into." Ben Goldacre, Bad Science "It's all in the algorithm" Dr. Rodney Mckay, Stargate Universe Myth #1: Statistics consists of only certain 'traditional' techniques or those from STAT 201 The current buzz about big data and data science is generating interest and a sense of urgency. … [Read more...] about Statistics Denial, Myth #1: Traditional Techniques Straw Man
