Question

a) Reflect on at least three different new techniques or tools from Data Analysis and Business Analytics course that you could use in the future.

b)Describe each one and how they could be practically implemented or used.

Answer 1

a)

modern technology trends in data analytics are

• predictive analytics
• modern technology trends:bots will drive augumented data analytics
• voice/speech analytics will gain momentum

modern technology trends in business analytics are

1. Data quality management
2. Data discovery
3. artificial intelligence

b)modern technology trends in data analytics are

predictive analytics:

It is used to determine customer responses or purchases,as wll as promote cross cell opertunities.It helps business attract,retain and grow their most profitable customers.Many companies use predictive models to forecast inventory and manage rsource.

modern technology trends:bots will drive augumented data analytics

Simply put,augumented data analytics is the process of using artificial intelligence(AI),Mechine learning(ML)and natural language processing (NLP) to agument analytics and business intelligence

voice/speech analytics will gain momentum:

Communication has already moved beyond text--memes are becoming legit forms of interaction and emoji s are everywhere.The next step in the evolution of online communication is bound to be in sound and video.

modern technology trends in business analytics are

Data quality management:

The set of practices that aim at maintaining a high quality of information.effective DQM is recognised as essential toany consistent data analysis,as the quality of data is crucial to derive actionable insights from your information.

Data discovery:

It is not a tool.it is a business user oriented for detecting patterns and outliers by visually navigating data or applying guided advanced analytics.Discovery is a iterative process that does not require extensive upfront model creation

artificial intelligence:

It is used to solve problems across the board.AI can help business increase sales ,detect fraud,improve customer sales,automate work process and provide predective analysis.The retial business can map customer behaviour using AI.