Actionable Big Data Analytics
There is no doubt that interest in and adoption of Big Data Analytics has been on the rise. But despite this fact, most of these efforts have been focused on Descriptive Analytics. By Descriptive Analytics, we are referring to a genre of analytics applications that are geared to look back at a historical data stream from one or more sources to provide a visualization of this data in an easily consumable Dashboard. In addition, this type of analytics can be used to explain the root causes of what happened. But to truly achieve the promise of Big Data Analytics, these efforts need to evolve to the realm of Actionable Analytics.
By Actionable Analytics, we are referring to the kind of analytics applications that use the historical data streams from one or more sources and leverage algorithmic analysis to predict future events and prescribe actions based on that. These applications range from offer recommendation to potential customers, to predicting customer churn and initiating proactive customer care activities, to deriving cyber intelligence and initiating engagement actions, among other things.
But while many enterprises have been struggling with making Descriptive Analytics work, Actionable Analytics require a whole new level of sophistication. In Descriptive Analytics, the algorithms are primarily concerned with formatting the data for the purpose of presenting it in a dashboard. By contrast, Actionable Analytics requires algorithms that are either based on machine learning or the implementation of a hypothetical model of behavior. By their very nature, these algorithms are not cut and dry, but rather require a constant evolution as you learn more from the data. Therefore an essential element to success is the ability to plug-in new algorithms over time.
Finally, Actionable Analytics is about taking action. Achieving this requires the ability to initiate and manage actions that may involve notifications, human activities, and/or system integrations to achieve the desired outcome.
Realizing the full benefit of Actionable Analytics requires a unique combination of technical capabilities, domain expertise, and lean execution. Without this combination, these efforts will become nothing more than a sink hole for investments that yield little or no results.
The Dante team has the experience and expertise to provide you the full potential of Big Data.
