Techniques

Data Analytics

Data analytics is a multidisciplinary field. There is extensive use of computer skills, mathematics, statistics, the use of descriptive techniques and predictive models to gain valuable knowledge from data through analytics. The insights from data are used to recommend action or to guide decision making rooted in the business context. Thus, analytics is not so much concerned with individual analyses or analysis steps, but with the entire methodology. There is a pronounced tendency to use the term analytics in business settings e.g. text analytics vs. the more generic text mining to emphasize this broader perspective.

There is an increasing use of the term advanced analytics, typically used to describe the technical aspects of analytics, especially in the emerging fields such as the use of machine learning techniques like neural networks, decision tree, logistic regression, linear to multiple regression analysis, classification to do predictive modeling. It also includes Unsupervised Machine learning techniques like cluster analysis, Principal Component Analysis, segmentation profile analysis and association analysis.