Data analytics platforms help in many ways. These are predictive analytics, automated data preparation, future-casting, and improved customer service. The importance of data analytics platforms can’t be overemphasized. This article will discuss some of the top benefits of such platforms. So, why should organizations invest in these tools?
Predictive Analytics
Predictive analytics is a powerful tool that helps you understand customer behavior and buying patterns. It can improve operational efficiency and reduce risk. It can also help identify fraudulent behavior. By combining data from multiple sources, predictive models can help businesses solve complex problems and identify new opportunities. It is also beneficial for companies that collect a lot of data about their customers, such as data from social media.
One popular predictive analytics platform is IBM’s SPSS. Created for social sciences, SPSS is easy to use and can handle large amounts of data. The software has two major modules: SPSS Statistics and SPSS Modeler. SPSS Statistics is a comprehensive set of statistical tools and techniques that can be used to solve complex business problems. SPSS Modeler is a powerful data mining and text analysis tool that allows you to build predictive models based on large amounts of data.
When choosing predictive analytics tools, remember your business and enterprise needs. If you are using predictive analytics for customer relationship management, you will likely need a tool that can be integrated with your CRM or sales automation system.
Automated Data Preparation
Data preparation software is a powerful tool to make creating and analyzing data more accessible. Many programs have built-in data management layers and intuitive interfaces that make connecting and cleaning data a snap. They are also capable of performing statistical, predictive, and spatial analyses.
The data preparation process can improve the accuracy of your models and the speed of other algorithms that use that data. For example, imagine you’re a member of an insurance company that wants to build a predictive model to flag suspicious claims. You can use automated data preparation to clean up the data and transform it into the format you need. But before you apply any transformations to the data, reviewing them is a good idea to ensure they’re accurate.
Data preparation software can also help automate processes that require highly skilled professionals. Generally, data preparation software offers a visual interface to create pipelines and synchronizes with SQL commands. This makes the process of data preparation easier for both technically skilled and non-technical individuals.
Improved Customer Service
Next-generation technologies are essential for gaining a competitive edge in the business world, and the customer journey is crucial for integrating these new technologies. According to Gartner, one of the main challenges of time-to-market is the inability to transform data into actionable insights.
Data analytics platforms can help improve customer service by collecting data from customer interactions. They are the best way to gain an overall view of a customer’s experience and needs. By using data and analytics to determine trends and patterns, companies can improve the customer experience and determine problem areas. This data is critical for assessing the effectiveness of customer service agents and helping them improve their skills.
Using these platforms can help companies improve customer service by identifying customer preferences. Using this data, companies can identify how often their customer service agents respond to similar queries and their average response time. This information can also be used to develop a strategy to improve customer satisfaction.
Improved Future-Casting
Data quality is a crucial issue for organizations on a global scale. This is because they must ensure that the data they collect is accurate and consistent. As more data sources become available, this issue will only get worse. An organization may be provided insight into market trends and opportunities with a reliable data source.
The cloud is becoming an increasingly important aspect of data analytics. Many organizations are moving to the cloud because it offers greater flexibility and performance. In addition, cloud-native applications allow for easy scaling of capabilities. Many cloud-native solutions can combine internal and external data, enabling organizations to improve their business.
