"We are drowning in information and starving for knowledge."
There is a massive competitive advantage to be leveraged by employing analytics beyond 'What?', reports retrospectively reporting on something that happened. Using advanced analytics to answer 'Why?' and 'What if?'. What's stopping you from taking that next step?
Also known as Descriptive Analytics, most organisations have developed the 'What' element by applying KPIs and discovery dashboards to historic data. To move into the 'Why' arena we have to move into the application of statistics, data mining techniques, clustering and looking for correlations and relationships, both within the core data and with additional datasources. Beware - correlation does not equal causation. Read our blog for more on this!
Predictive Analytics, using historic data to infer a future scenario, then model in a change and compare the 'do nothing' forecast with a number of potential futures. Dip your toes in with simple regression predictions or dive right into machine learning algorithms.
Promatix has a long background introducing statistical techniques to organisations that previously hadn't considered using them or just needed help taking the next step. From the relatively simple Statistical Process Control to identify trends and outliers, through to clustering to identify cohorts within your data, to the various forcasting algorithms available, we have the training and real world experience of implementing these tools.