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Published by:
Amity Research Centers (2019)
Length:
13 pages
Data source:
Published sources

Abstract

Advanced Analytics (AA) had come to minimise the risk element in the business decision making process and to mitigate the insecurities related to predictions. In a complex business world laden with overwhelming investments and risks running high, AA along with Predictive Analytics promised to ease multiple pain points. AA helped the businesses to get insights into customer behaviour, demand forecasting, process optimisation and many other crucial functions of the business. In short, AA seemed to have created a hype which was applauded by businesses of all diversity. However, amidst these applauding voices there were analytical minds who questioned the strategic business value of the technology. These sceptics called for objective assessment of the utility of AA in addressing efficiencies, process improvement and marketing and sales related business decisions. Was it time to look beyond the hype surrounding AA and make a detailed assessment of the ROI in embracing the technology?

Teaching and learning

This item is suitable for postgraduate courses.

Topics

Advanced analytics; Predictive analytics; Technology; Data; Artificial Intelligence; Business intelligence; Machine learning; Internet of Things; Business value; Strategic; Insights value chain

Setting

The events covered by this item took place in 2019.

Geographical setting

Region:
World/global

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