"A subset of analytical techniques that, among other things, often uses statistical methods to identify and quantify the influence and significance of relationships between items of interest, groups similar items together, creates predictions, and identifies mathematical optimal or near-optimal answers to business problems." (Evan Stubbs, "Delivering Business Analytics: Practical Guidelines for Best Practice", 2013)
"Algorithms
for complex analysis of either structured or unstructured data. It includes
sophisticated statistical models, machine learning, neural networks, text
analytics, and other advanced data-mining techniques Advanced analytics does
not include database query and reporting and OLAP cubes." (Marcia Kaufman
et al, "Big Data For Dummies", 2013)
"A subset of analytical techniques that, among other things, often uses statistical methods to identify and quantify the influence and significant of relationships between items of interest, group similar items together, create predictions, and identify mathematical optimal or near-optimal answers to business problems." (Evan Stubbs, "Big Data, Big Innovation", 2014)
"Advanced
Analytics is the autonomous or semi-autonomous examination of data or content
using sophisticated techniques and tools, typically beyond those of traditional
business intelligence (BI), to discover deeper insights, make predictions, or
generate recommendations. Advanced analytic techniques include those such as
data/text mining, machine learning, pattern matching, forecasting,
visualization, semantic analysis, sentiment analysis, network and cluster
analysis, multivariate statistics, graph analysis, simulation, complex event
processing, neural networks. (Gartner)
"Analytic
techniques and technologies that apply statistical and/or machine learning
algorithms that allow firms to discover, evaluate, and optimize models that
reveal and/or predict new insights." (Forrester)
"Advanced analytics describes data analysis that goes beyond simple mathematical calculations such as sums and averages, or filtering and sorting. Advanced analyses use mathematical and statistical formulas and algorithms to generate new information, to recognize patterns, and also to predict outcomes and their respective probabilities." (BI-Survey) [source]
"Advanced analytics is an umbrella term for a group of high-level methods and tools that can help you get more out of your data. The predictive capabilities of advanced analytics can be used to forecast trends, events, and behaviors. This gives organizations the ability to perform advanced statistical models such as 'what-if' calculations, as well as to future-proof various aspects of their operations." (Sisense) [source]
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