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Analytics 1.

Features Limitations

 Data sources relatively small and structured,  Process was slow because data structuring
from internal systems took most of the time

 Majority of analytical activity was descriptive  Unstructured data cannot be analyzed


analytics or reporting
 Future predications were not possible
 Creating analytical models was a “batch” process
 Data Were used within the organization
 Quantitative analysts were in “back rooms” because of eCDWs.
segregated from business people and decisions

 Decisions were made based on experience and


intuition
Analytics 2.0

Features Limitations

 Complex, large, unstructured data sources


 Slower working
 Unstructured databases (NoSQL) came to light
for better management of unstructured data  Lack in Automation

 Data stored and analyzed in public or private  Lack of Digital products


cloud computing environments

 Machine learning came into existence

 Machine learning method made the process


faster

 Analytical activity was Predictive analytics


Analytics 3.0

Complex, large, unstructured data sources or can be Metadata

Analytical activity is Prescriptive

Analytical tools available at point of decision

Rapid and agile insight delivery

Cultural evolution embeds analytics into decision and operational processes


Analytics 3.0- Requirements

New ways of deciding & managing Multiple types of data

Analytics on an Industrial scale New Data Management Options

How to
Prescriptive Analytics Faster technologies & analysis method
capitalize?

Chief Analytics Officers Embedded Analytics

Cross-disciplinary data teams Data discovery


Recipe for 3.0 world
• Start with an existing capability for data
management and analytics

• Add some unstructured, large-volume data

• Throw some product/service innovation into the


mix

• Add a dash of Hadoop

• Cook up some data in a high-heat convection oven

• Embed this dish into a well-balanced meal of


processes and systems

• Promote the chef to Chief Analytics Officer


The Way forward

• Analytics 3.0 allows to scale decision-making processes to industrial


strength

• More models help the organization become granular and precise in


predictions

• But the cost and time for such models wasn’t affordable

• With increasing use across organizations, it became necessary to


automate interacting networks

• This gave rise to Analytics 4.0 – Automated Analytics


Analytics 4.0

“If the 3.0 version of analytics and automation involves widespread use of them within
organizations, 4.0 is about their application across pervasive, automated networks.”

No human interaction required, as all organisations will be tied up with


communication apps and sensors

Data originating from heterogeneous sources and requires complex training


methods

Employing ML algorithms with existing descriptive-predictive and prescriptive analysis

Small problem can be amplified, due to lack of human control

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