Business Analytics Software Vendors
Business Analytics Software
Gkeysys is real people helping you find the best business analytics software for your unique business needs.
Descriptive Business Analytics
Descriptive analytics is the analysis of historical data using two key methods – data aggregation and data mining - which are used to uncover trends and patterns. Descriptive analytics is not used to draw inferences or make predictions about the future from its findings; rather it is concerned with representing what has happened in the past.
Descriptive analytics are often displayed using visual data representations like line, bar and pie charts and, although they give useful insights on its own, often act as a foundation for future analysis. Because descriptive analytics uses fairly simple analysis techniques, any findings should be easy for the wider business audience to understand.
Key Parameters for Choosing the Right Vendor
- 1. Domain Knowledge 2. Performance 3. Scalability
- 4. Flexibility 5. Vendor location 6. Value addition
Predictive Business Analytics
Predictive analytics is a more advanced method of data analysis that uses probabilities to make assessments of what could happen in the future. Like descriptive analytics, prescriptive analytics uses data mining – however it also uses statistical modelling and machine learning techniques to identify the likelihood of future outcomes based on historical data. To make predictions, machine learning algorithms take existing data and attempt to fill in the missing data with the best possible guesses.
These predictions can then be used to solve problems and identify opportunities for growth. For example, organisations are using predictive analytics to prevent fraud by looking for patterns in criminal behaviour, optimising their marketing campaigns by spotting opportunities for cross selling and reducing risk by using past behaviours to predict which customers are most likely to default on payments.
Key Parameters for Choosing the Right Vendor
- 1. Domain Knowledge 2. Performance 3. Scalability
- 4. Flexibility 5. Vendor location 6. Value addition
Prescriptive Business Analytics
Whilst predictive analytics shows companies the raw results of their potential actions, prescriptive analytics shows companies which option is the best. The field of prescriptive analytics borrows heavily from mathematics and computer science, using a variety of statistical methods.
Although closely related to both descriptive and predictive analytics, prescriptive analytics emphasises actionable insights instead of data monitoring. This is achieved through gathering data from a range of descriptive and predictive sources and applying them to the decision-making process. Algorithms then create and re-create possible decision patterns that could affect an organisation in different ways.
Key Parameters for Choosing the Right Vendor
- 1. Domain Knowledge 2. Performance 3. Scalability
- 4. Flexibility 5. Vendor location 6. Value addition
Business Analytics Software Vendors
Gkeysys’s is working closely with the industry's leading Business Analytics vendors, to help your customers. Our team is well skilled in Business AnalyticsSoftware Implementation and support. We welcome all leading Business Analytics Software vendors to collaborate with us to support your customers.
Gkeysys is interested in partnership with leading Business Analytics Software vendors for product sales and implementation services for various industries. Gkeysys is ready for partnership with leading Business Analytics vendors.
Contact us at info@gkeysys.com to share more about your offering or product to discuss for collaborate together. We are interested to work with you.
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