Emerging technologies such as big data, data science, and advanced visualization are allowing companies to ingest, process, and visualize information beyond the capabilities of conventional business intelligence and data warehouse environments. These forces are behind a new level of analytics which in turn create business value and innovation through improved decision making.
Analytics take social data, combine it with other data sources, and enable improved business decision making. These decisions affect the way products and services are marketed, sold, and provided to end users through both traditional and mobile channels.
The following are the various steps in an analytics project:
Problem definition: The first step is to, articulate the business and technical requirements. The step requires understanding the business problem and then converting the business problem into the analytics problem. It is necessary to establish...