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Advanced Analytics Enhances Business Intelligence:

Robust New Technology Enables Better Decision-Making

Advanced Analytics Complements BI

Today the need to process and analyze the ever larger volumes of data being generated is causing many businesses to consider expanding the capabilities of their business intelligence (BI) systems. Being able to do so can be a competitive differentiator. For example, to deliver satisfying experiences, customer service organizations need more than ever to understand their customers and identify root causes of their problems. A next-generation BI system that utilizes multiple data sources and also offers predictive analytics can provide the needed guidance.

In response to the explosion of big data sources and customer demand for forward-looking analysis, some vendors are adding advanced analytics to their business intelligence systems. These capabilities include descriptive analysis, predictive modeling, machine learning, simulation and rules-based optimization. The capabilities combine statistical algorithms with business rules and the ability to learn progressively. One challenge these vendors face is that despite the technical advances, it is most important that the systems be easy for users to understand and use to make decisions. Our research into next-generation business intelligence shows that usability is the buying criteria most participants (64%) said is very important when it comes to business intelligence.

 
 

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