Predictive Analytics: The value of Big Data
Big Data has been one of the tech buzzwords of recent years. We recommend: Don't let the hype put you under any pressure. On the other hand, make the most of what is already in your possession.
Ever since distributed file systems based on Hadoop or in-memory databases such as SAP HANA have made it possible to collect, store and manage large complex data sets, the amount of information has been growing exponentially.
All the more so because weak or unstructured data from the Social Web has now been added. One question must be asked: Why all this data collection? It is not an end in itself, but first and foremost only generates costs.
The data can serve as a basis for predictions - if analysed correctly
In order to use this data profitably, it has to be specifically analysed. The buzzword here: Predictive Analytics. Historical data serves as the basis for making statements about the future. But this seems like a mammoth task, if only because of the volume of data. How do you get to grips with it - and do you have to hurry because you'll lose touch without using big data?
The use of predictive analytics requires a strategy
Our recommendation: Do not let yourself be put under pressure.
- First of all, check which data is generated during the course of your business processes and which you can procure externally, if necessary.
- Then evaluate: What potential is there in this data?
- On this basis, you will develop goals.
- Let experts support you in this process if necessary.
- Look for the appropriate tool for predictive analytics.
- Implement the predictive applications in your system landscape.
- Uncover the treasures buried in your data - and profit.
Seamlessly integrate solutions for big data management and predictive analytics
ConVista offers you experts for data management and business intelligence with more than 15 years of experience. We support you holistically - professionally, technically and methodically. Our offer:
- Development of a result-oriented strategy
- Analysis of application scenarios for predictive analytics
- Implementation of proof of concepts based on concrete customer-specific use cases
- Conception of an efficient Big Data Management
- Creative solutions and in-depth data analysis
- Development of data models as the basis for predictive algorithms
- Modelling of predictive models
- Implementation and integration of predictive applications in business processes and the existing IT system landscape
- Project management (classic/waterfall or agile)
Our experts are also passionate treasure hunters.