Trends in Data and

Business Analytics
Group 3
 Data Analytics and Upcoming Trends
Data analytics (DA) is the process of examining data sets in order to
draw conclusions about the information they contain, increasingly with
the aid of specialized systems and software
Analysts project that overall market revenue for cognitive solutions will
exceed $60 billion by 2025[1]
Types of data analytics applications
Exploratory data analysis (EDA)- Aims to find patterns and
relationships in data
Confirmatory data analysis (CDA)- Applies statistical techniques to
determine whether hypotheses about a data set are true or false
More advanced types of data analytics include
Data mining, which involves sorting through large data sets to identify
trends, patterns and relationships
Predictive analytics, which seeks to predict customer behaviour,
equipment failures and other future events

[1] 2016 Analytics Trends, Deloitte

 Machine learning, an artificial intelligence technique that uses
automated algorithms to churn through data sets more quickly
than data scientists can do via conventional analytical modelling.
Big data analytics applies data mining, predictive analytics and
machine learning tools to sets of big data that often contain
unstructured and semi-structured data
Text mining provides a means of analysing documents, emails and
other text-based content.

Data Analytics Applications

Banks and credit card companies analyse withdrawal and
spending patterns to prevent fraud and identity theft
E-commerce companies and marketing services
providers clickstream analysis
To boost customer relationship management
To segment customers for marketing campaigns
Healthcare organizations mine patient data to evaluate the
effectiveness of treatments for cancer and other diseases
Trends in Data Analytics
Artificial Intelligence (AI)
Science aiming to make machines execute what is usually
done by complex human intelligence.
AI and machine learning are revolutionizing the way we
interact with our analytics and data management
Internet of Things (IOT)
The Internet of Things (IoT) is a system of interrelated
computing devices, mechanical and digital machines, objects,
animals or people that are provided withunique identifiersand
the ability to transfer data over a network without requiring
human-to-human or human-to-computer interaction
Business Intelligence Centre of Excellence
Increasing number of organizations establishing a BI and
Analytics Centre of Excellence (CoE) to foster adoption
ofself-service analytics. These centres will play a critical
role in implementing a data-driven culture and extract a
maximum of benefit from a BI solution
Trends in Data Analytics
Cloud Analytics
service model in which elements of the data analytics
process are provided through a public orprivate cloud
Security
Business owners will increasingly search for the most
secure solution that averts the risk of data breach and
losses
Collaborative analytics
People will share live, interactive workbooks and data
sources to drive business decisions. Theyll build on each
others work and iterate to answer their own questions
Self Service analytics
According to Gartner,The trend toward ease of use and
agility that has disrupted the BI and analytics markets is
also occurring for data integration. Common data- prep
tasks like data parsing, JSON and HTML imports, and data
wrangling will no longer be delegated to specialists
Trends in Data Analytics
Variety, not volume or velocity drives big-data
investments
Gartner defines big data as the three Vs: high-volume,
high- velocity, high-variety information assets. While all
three Vs are growing, variety is becoming the single
biggest driver of
In 2017, analytics platforms will be evaluated based on
their ability to provide live direct connectivity to these
disparate sources.

The Rise Of API Deployment

Companies move towards an even broader use of
[software-as-a-service] SaaS apps to complement or
replace enterprise applications and, as mobile apps
continue to multiply, the need for APIs and cloud
connectivity will grow, with an increased emphasis on
better developer tools and productivity
The broad categories in which analytics has
affected how the banking works are as
follows:

A. Sentiment Analysis
B. Product engagement with customer
C. Customer segmentation
D. Enhancing loyalty
E. Recognize multi-channel behaviors
 In both the problems churn rate and triggering
the cross sell, the data is about the already
existing customer, the data points considered in
most of the papers were
Age
Gender
Income
Current state of the account (active or
inactive)
Profession
Customer demographics
Examples (1/2)
The Royal Bank of Canada (RBC) designs its
loyalty programs based on its customers
card usage habits. This allows the
bank to offer their customers tailored
products, including gifts for pets like carriers,
dog feeders and doggie loungers
Examples (2/2)
FifthThird Bank uses analytics-based product
pricing engine to help acquire new customers.
Using data analytics the bank can run scenarios on
how various price points will influence its
customer acquisition and deposit levels. For
example, the bank can make price predictions
when interest rates will rise in the future and make
scenarios where it wants to be with rates in the
market to be aggressive in attracting customers.
 Business domains that will
lead the charge Customer Impact on society:
Service, Finance, High
Marketing, and Supply
Chain

Impact on
business: High

Industries most
impacted Consumer,
Financial Services,
Health Care, Retail,
Telecommunications,
and Travel

Expected peak:5
years
Thank You