Advanced analytics combines multiple BI-Tools for statistics, descriptive and predictive data mining, big data, and simulation and optimization techniques to arrive at definite conclusions and results.While the traditional analytical tools that consist basic business intelligence (BI) examine historical data, tools for advanced analytics focus on forecasting future events and behaviors, allowing businesses to conduct what-if analysis to predict the effects of potential changes in business strategies
“Let your Dashboards predict your future“
With the help of advanced analytics, we are able to deliver high-value, decision-oriented functionalities such as prediction, forecasting, trend analysis, simulation, optimization and the like. At Parkar, we leverage Business Intelligence tools that report historical data and help the decision makers to take the right actions.
Our data management service makes sure that the required data is collated, stored, validated and processed for ensuring the needs of the data users.We have the expertise of developing data management strategy and build the roadmap that takes care of data governance, data capabilities, architecture, etc. by rightly assessing and identifying the best implementation style that perfectly suits the big data requirements of your enterprise. We don’t only assess but also identify key metrics to measure your business and organizational success.
Reports and Visualization
We make the best use of Data visualization for the presentation of large data sets in a graphical format. It enables top management and decision makers to view the data as a graph or chart providing them a better grasp of the difficult concepts and complexity of data seen as just numbers. They are able to see and identify new. Reports and visualization help enterprises to quickly identify areas that require immediate attention, helps them clarify what are the influencing factors on customer behavior. These reports give a clue and provide more understanding about products and time to market. They are also capable of predicting sales volumes. Data visualization technology delivers rapid answers to difficult problems irrespective of the data size.
Descriptive Analytics is often used when we need to gain a better understanding of the companies’ at an aggregate level and when there is a need to summarize and describe different facets of the business from the past or historical data. This method allows us to allow us to learn from the companies’ past trends, behaviors, and understand how it might influence future results.With the help of past data, we are capable of generating reports that provide historical insights of the company’s functional and business units such as sales, HR, operations, finance, production and its customers.
We usually leverage the three methods to gather data and derive past insights, namely Test Analytics, Web Analytics and Social Analytics.All of these methods are methods for collation, analysis, and reporting of company data for understanding the past data usage.Web analytics and social analytics, particularly help us to estimate the changes in the web traffic post-launch of any new ad campaigns and the number of visitors that hit a website along with page views. It helps to judge web traffic and growing trends useful for market research. While social analytics help us understand the online behavioral patterns of the users and their preferences, likes, and dislikes.
As the name itself suggests, Predictive analytics have the capability of predicting what will happen in the future. We utilize these analytics for peeking into the future. Predictive analytics gives companies the power to see and take actionable insights based on data. It suggests the chances of a future outcome. We combine past data found in legacy systems to identify data patterns in order to apply statistical models and algorithms and capture relationships between various data sets. We leverage Predictive analytics from forecasting customer online behavior, their purchasing patterns, their interests, and to identify trends in company sales activities.We generally use Clustering Algorithms, Sentiment Analysis, Support Vector Machine, Artificial Neural Networks, and CHAID Analysis derive conclusive outcomes from the company data existing in their systems.
A method of analytics that gives the user many possible actions so as to arrive at a particular solution. A method of providing advice on future outcomes by means of analytics so that accurate decision can be taken. This analytics go one step beyond other methods such as descriptive and predictive analytics by recommending either a single or multiple possible courses of action that can be feasibly taken. This allows us to assess a variety of possible outcomes based upon their actions. We use Prescriptive analytics with a combination of techniques and statistical tools such as algorithms, business rules, machine learning as well as computational modeling procedures. We apply all these techniques against input from multiple data sets including the past and transactional data, real-time data feeds, and volumes of record sets. Prescriptive analytics, when implemented correctly, has a large impact on how businesses make decisions. We use it to optimize our processes and to make sure that are delivering the right deliverables on time and optimizing the customer experience.