Analytics: How fast do you think? / Analytics: Quão rápido consegue pensar?

This article is written in English and Portuguese
Este artigo está escrito em Inglês e Português

English version:

I was educating myself on the Internet when I came across another IT jargon expression, or another buzzword. The IT industry is very prolific when it comes to creating buzzwords. And we the technical people usually look at those ideas with some distrust. But although this is used by the marketing teams to promote products, increase sales and create awareness and needs on the customers, they actually summarize perfectly concepts that are in some cases very complex. Take “SOA” (Service Oriented Architecture), BigData and so on as examples. Many people use them (and some even assume they need it) without really understanding them. But why am I going through this? Because I was hit by a new buzzword that I can really map to something I know and that really describes the power of that “thing” I know… Let’s start by the buzzword first: “Analytics at the speed of thought”. It has been used for years to describe products, concepts and technologies that try to provide exactly that: The ability to analyze data at the speed you think… But let’s go back a little bit… What is “data analysis”? Well we can consider it a big umbrella, and depending on your background, fit things like reporting, market segmentation, CHURN, market basket analysis etc. But IT departments have been doing this and providing this to business users for a long time. Datawarehouses, datamarts and so on. Everybody has them. But as usual, that’s not enough… We’re constantly pushing the limits and trying to take advantage of latest technology improvements. And now we’re getting to a point where we can “explore” the data that we have… The idea is not to have a report on our desk each morning that took part of the night to run… These reports can contain some very valuable business data that tells us how things are going… which customer are about to leave us etc. The idea is that we can, and should, use the data to explore new business ideas, to create virtual scenarios and in summary, to learn things that we never though about before. And that requires the ability to process data at our speed… and our speed is the speed of thought… I’m sure yours is not slower than mine, and I’d like to think mine is pretty quick (not always I must admit!). The big point is that if you have an idea, an hypotheses, and you need to verify if your business data confirms it, you don’t want to wait large minutes or even hours f…

Auteur : (Fernando Nunes)

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