Concept
Advanced analytics are a set of
analytical tools and models that provides simulation and optimisation
capabilities to support decision-making.
These extensions of
traditional analysis help to close the gap between traditional Business
Intelligence (BI) systems and other related systems, such as Rules
Management and Business Process Management.
Advanced analytics
tools include data mining and statistical software.
Advanced
analytics also involves new technologies to search unstructured content
and other search enhancements, such as semantic analytics.
Trajectory
Today,
improved decision-making is the primary driver for investing in BI.
Yet, the majority of BI deployments focuses exclusively on reporting
metrics or provides historical analysis to support business decisions.
The
new step is to provide simulation, prediction, optimisation, and other
analytics, not simply information, to empower even more decision
flexibility at the time and place of every business process action.
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