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What Are The Advanced Analytics Skills To Develop For Future Workforce?
The term Advanced Analytics relates to technologies like Data Science, Business Intelligence, Data Analytics, Predictive Analytics Machine Learning, Artificial Intelligence , etc. These technologies are considered to be having a great potential to revolutionize the world in the field of Big Data and Analytics. Most of the people are of the common misconception that these technologies can be used interchangeably, where as the truth is that these technologies are related to each other but, they are not the same thing.
What Exactly Is Advanced Analytics?
Advanced Analytics is an umbrella term that commonly relates to a wide range of analytics techniques and tools that would often work collectively. The term Advanced Analytics commonly relates to Data Mining, Machine Learning, Prescriptive Analytics, Predictive Analytics, Big Data Analytics etc. These technologies are generally associated with the task of interpreting with structured or unstructured formats Big Data to find the patterns in it. Artificial Intelligence, Neural Networks, Data Visualization etc are the advanced techniques that are also associated with Advanced Analytics. Build real-world skills in these trending analytics technologies with the help of our integrated Data Science Training In Hyderabad program (with AI, ML Deep Learning, & TensorFlow technologies combined).
The concepts in Advanced Analytics may seem to be related with Business Intelligence but, on a broader outlook, these techniques go beyond common business intelligence solutions. The advanced applications of Advanced Analytics include:
- Segmentation- The process ofgrouping different items which have common similarities
- Classification- Classifying the data sets with shared qualities
- Correlation- Uncovering the relations between different data sets
- Forecasting– Accurately predicting the future values
- Association- Identifying events that would occur jointly
The Future of Advanced Analytics
With the growing prominence for Big Data, Analytics technologies have become the need of the hour. There has been significant progress in the development of advanced analytics tools and techniques. As per Gartner, the predictions for the future of analytics would involve key trends like
- Augmented Analytics
This form of analytics relays heavily on the use of Machine Learning to enable Data Scientists to deploy models and conduct advanced analysis.
- Relationship Analytics
This form of analytics deals with the process of combining data sets of graph, location, and social information and making connections between rather than analyzing them individually.
Decision Intelligence, Digital Culture, Operationalizing & Scaling, etc are considered to the future trends in Advanced Analytics.
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