In 
The popular belief now about analytics techniques is go the data discovery way.
According to Gartner, Business Discovery or what it terms “data discovery” is now a mainstream architecture for BI. With Business Discovery, businesses can connect things that are seemingly unrelated, and discover hidden insights in the data that help users ask the next question. Old style, top down BI no longer works--it is slow, inflexible and irrelevant.
Phillip Beniac, Regional Vice President, Qlik Asia Pacific, says, “At the core of Business Discovery is a technology and design approach we call Natural Analytics. Humans evolved in a world of vastly complex information and critical choices. As a result, people have outstanding skills in pattern recognition, outlier detection, sorting, association and comparison.”
Beniac claims that QlikView Business Discovery platform supports those natural skills, enabling users to explore complex data, making and sharing discoveries using natural human abilities.
Mallinath Sengupta, Sr. Vice President & Head, SMU Apps, Mphasis, says, “The best technique is definitely data discovery. In most cases, the challenge lies not in knowing the problem, but the inability to identify the cause of the problem. In today’s world, visualisation in analytics tools allows you to do that.”
The challenge today is not knowing the problem, but the inability to identify the cause of the problem. In today’s world, visualisation in analytics tools allows you to do that.
Citing an example, Sengupta says that till recently, power point was the only visualisation tool. But these visualisation tools lead to data discovery, then lead to much deeper insight.
V Ananthanarayanan, Associate Vice President--Business Insights, HDFC Life says, “The best 5 techniques of fetching desired results are What-if analysis, cluster analysis, time-series analysis, multivariate data analysis and decision tree.”
Sajith Chakkingal, Assistant Vice President--IT, Barclays, says, “The performance here mostly relates to the ability of the tool to work with an optimised query, so that the system resources are utilised at its optimum. Also many of the ITDMS are only favouring the use of a separate BI data area away from the live environment with real time replication to the live data.”
Add new comment