The world never sleeps so Marketing is All About Market Study.
The more you know about your opponents, more Leads you Generate. If you can predict the Market trend, how it changed over last 4 quarters, and 6 quarters, then 2-3 years, you can make decision about what people might want over next few quarters and design your Campaigns accordingly and Claim your Success!!!!!
The field of business analytics has improved significantly over the last few years, providing business users with better insights, particularly from operational data stored in transactional
systems.
As an illustrative example, analysis of e-commerce data has recently come to be considered a killer-app for data mining. The data sets created by integrating clickstream records generated by web sites with demographic and other behavioral data dwarf, in size and complexity, the largest data warehouses of a few years ago, creating massive databases that require a mix of automated analysis techniques and human effort in order to provide business users with critical insight about the activity on the site and the characteristics of the site’s visitors and customers. With many millions of clickstream records being generated on a daily basis and aggregated to records with hundreds of attributes, there is a clear need for automated techniques to find patterns in the data. In this post I would discuss about the technology and enterprise-adoption trends in the area of business analytics.
The key consumer of these analytics is the business user, a person whose job is not directly related to analytics per-se (e.g., a merchandiser, marketer, salesperson), but who typically must use analytical tools to improve the results of a business process along one or more dimensions (e.g., profit, time to market). Fortunately, data mining, analytic applications, and business intelligence systems are now being better integrated with transactional systems creating a closed loop between operations and analyses that allows data to be analyzed faster and the analysis results to be quickly reflected in business actions. Mined information is being deployed to a broader business audience, which is taking advantage of business analytics in everyday activities. Analytics are now regularly used in multiple areas, including sales, marketing, supply chain optimization, and fraud detection. I would be talking about these Business Users and their challenges in my upcoming posts!!!
The source data that drives this intelligence is everywhere and pushing it into a traditional data warehouse is becoming less and less feasible.
I happened to read about the future of BI somewhere and a few questions popped onto my mind. I am in search of these, however putting them together for the readers to contribute too:
1. The call to action today is around real-time analytics – why this push now and how are companies accomplishing this task?
2. Data warehouses have walked with business intelligence for years. Are they reaching their limits? What will replace them?
3. How can companies extract more value from their data today? Are their commercialization opportunities?
4. Hadoop or MapReduce are all the rage today but its complicated to program and leverage. What movements are afoot to help bring these new data analysis models to the masses.
