from The American Heritage® Dictionary of the English Language, 4th Edition
- n. The branch of logic dealing with analysis.
from Wiktionary, Creative Commons Attribution/Share-Alike License
- n. The principles governing any of various forms of analysis.
from the GNU version of the Collaborative International Dictionary of English
- n. The science of analysis.
from The Century Dictionary and Cyclopedia
- The name given by Aristotle to the whole of his logical investigations viewed as the analysis of thought; specifically, the name of two of his logical treatises, the Prior and the Posterior Analytics, the former of which deals with the doctrine of the syllogism, and the latter with proof, definition, division, and the knowledge of principles.
- 2. Same as analytic, 2.
The term analytics refers to the applied use of statistical techniques to gain understanding and value from structured and unstructured information in enterprise, line of business, departmental and third-party databases and repositories.
I think, first of all, the most important thing we can do is what I call the analytics and informatics.
And predictive analytics is building on the legacy of traditional business intelligence and data mining to become an essential tool for older businesses and Web-centric companies alike that need to move faster -- and at lower cost -- than ever before.
I work in analytics in the financial sector and am sick of journalists, fashion designers, and secretaries as heroines (its not my world).
Data analytics is distinguished from data mining by the scope, purpose and focus of the analysis.
At the simple end of the spectrum, one Australian firm asserts that "analytics is basically using existing business data or statistics to make informed decisions."
Data analytics is used in many industries to allow companies and organizations to make better business decisions, and in the sciences, to verify or disprove existing models or theories.
Thanks in part to vigorous efforts by vendors (led by IBM) to bring the idea to a wider public, analytics is coming closer to the mainstream.
Posted in analytics, teams | Tagged: moneyball | 5 Comments »
Posted in analytics, wisdom of crowds | Leave a Comment »