Analysis + decision-making = analytics
Analysis (patterns, linkages) + analytics (budgets, updates) = intelligence
■Business analysis: what, where, who (puzzle) = subscription + description
■Business analytics: why, how, when (painting) = prediction + prescription
■Descriptive analysis: on human decisions to behvaiors (patterns)
■Analytical analysis: on insights from historical data (linkages)
■Predictive analytics: on next trends from predictive modelling using statistical and machine learning techniques (budgets)
■Prescriptive analytics: on improvement recommendations using optimization, simulation, etc. (updates)
- Opettaja: Ivy Shiue