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Analytics

Prescriptive Analytics: Optimize Business Decisions in 2024

Prescriptive Analytics: Optimize Business Decisions in 2024

In this article, we explain prescriptive analytics and its difference from predictive, diagnostic, and descriptive analytics.

Jan 118 min read
Automated Root Cause Analysis in '24: 4 process mining benefits

Automated Root Cause Analysis in '24: 4 process mining benefits

Process mining vendors include root cause analysis as an additional process analytics feature to diagnose errors, problems and deviations. Some vendors distinguish their root cause analytics by emphasizing machine learning capabilities. However, business leaders and process analysis teams are often confused about root cause analysis and its applications in process mining.

Jan 43 min read
Top 5 Web Scraping Analytics Use Cases with Examples in 2024

Top 5 Web Scraping Analytics Use Cases with Examples in 2024

Most web scraping use cases falls under data analytics and data-driven decision making. However, it is not always clear to business leaders how pages of unstructured web data would feed into their data analysis dashboards and models.  In this article, we will dive into specific web scraping analytics use cases with examples. 1.

Jan 114 min read
Predictive Process Mining in '24: Top 3 use cases & case studies

Predictive Process Mining in '24: Top 3 use cases & case studies

Predictive analysis is one of the top 10 advanced process mining capabilities that have been identified for 2021, according to the latest process mining trends. Predictive process mining enables businesses to maintain their processes running smoothly by predicting possible outcomes, issues and steps in processes.

Jan 44 min read
Top 22 Automated Process Discovery Tools in 2024

Top 22 Automated Process Discovery Tools in 2024

Process discovery exceeds the role of being the first step in the process mining because some process discovery tools leverage machine learning algorithms, computer vision and deep learning to observe the execution of real-life processes.

Jan 33 min read
The Ultimate Guide to Alternative Data Analytics in 2024

The Ultimate Guide to Alternative Data Analytics in 2024

Alternative data is different than its traditional counterpart because it’s not gathered from conventional sources such as Security and Exchange Commission filings, financial statements, press releases, or management presentations. Alternative data is instead collected en masse from sources such as credit card transactions, sensors, social media feeds, and email receipts.

Jan 124 min read
4 Ways Behavioral Analytics Can Improve Your Business in 2024

4 Ways Behavioral Analytics Can Improve Your Business in 2024

Until a decade ago, experts’ experience, education, and instinct were the best tools to understand their customers’ preferences and behaviors. However, all of these could be biased and lead companies to ineffective directions. Today, businesses can make data-driven decisions thanks to behavioral analytics that interpret big data.

Jan 113 min read
How to Apply Data Mining in Business Analytics in '24

How to Apply Data Mining in Business Analytics in '24

Data mining is the process of finding patterns in order to predict outcomes in big data. Companies use data mining techniques to turn raw data into beneficial information to increase revenues, reduce costs, enhance customer relationships, and decrease risks. Today, 90% of businesses consider big data and analytics as a key to their organization’s digital transformation.

Jan 43 min read
Top 10 Manufacturing Analytics Use Cases in 2024

Top 10 Manufacturing Analytics Use Cases in 2024

IDC estimates that the global big data analytics market revenue would’ve reached ~$274B by 2022. This would have made manufacturing as one of the top 3 industries with largest analytics growth. Manufacturing analytics is one of the critical steps for manufacturing digital transformation required for Industry 4.

Feb 144 min read
Healthcare Analytics Adoption Model: In-Depth Guide in 2024

Healthcare Analytics Adoption Model: In-Depth Guide in 2024

Analytics tools are used heavily today in healthcare organizations in financial, operational, and clinical functions. Healthcare adoption models are used as a guide to measure and advance predictive and prescriptive analytics capabilities of an organization. In 2002 the first analytics adoption model was released as a 5-step framework focusing on data management.

Feb 143 min read