Improve Your Business’s Processes with Predictive Analytics and Machine Learning
Source – https://techwireasia.com/
In a digital age, it only takes a few years for research into cutting-edge areas like predictive analytics modelling and artificial intelligence to find practical uses in everyday business contexts. Areas like general usability, user interface, and semantics that are changed to empower a broader cross-section of potential users.
Business-focused users keen to leverage statistical methods may not be capable of or comfortable with interacting in a pure text terminal in Python or R, for example. After all, open-source code is exactly that: can you blame someone for not wanting to make an investment decision based on code found freely on the internet? Business users need an easy way to interface with powerful analytics and need a trusted brand that stands behind them. That’s exactly why Minitab has changed the game, making machine learning easy for everyone.
Today, business users do not have to compromise to do advanced analytics. For statistical analysis, predictive analytics, and machine learning, there is a 50-year-old powerhouse called Minitab.
Over the past couple of years, Minitab has revolutionized the market by bringing the world’s most advanced data gathering, processing, visualizations, and analysis to the masses. Most recently, Minitab broke the barrier to putting “Data Science” into the hands of business professionals. And unlike others who promised this in the past, Minitab delivers.
That’s because, across the company’s product portfolio, there is a strong emphasis on usability and business outcomes – Minitab is deployed by a broad cross-section of the business community.
For decision-makers tasked with a business process or operational improvements, access to data and the ability to use it to achieve clear goals is critical. The lifeblood of today’s organizations is information, so using it to examine what was, what is, and what might happen can result in in lowered costs, higher revenues, and more efficient, timely actions for long-term strategy.
The talk may be of variables and predictors in mathematics and statistics — for the business’s Change Manager, it’s data sources, outcomes, and results. The phraseology might be different, but the required data processing and analysis remain the same. Don’t be intimidated by the term “Machine Learning.” All it refers to is learning from your data, which is effectively what data analysis is. Don’t believe us? Try it yourself.
With Minitab at the core of your data operations, there is immediate “plug and play” access to hundreds of data sources via included connectors that allow companies to access the data silos, repositories and applications across the network and in the cloud. It’s not surprising that Minitab was the highest-rated data integration tool according to Gartner Peer Insights.
Coupled with the statistical core of the Minitab data analysis platform, professionals can get a full picture of their data by leveraging archived information and real-time data streams as they happen in any organization.
Data is cleaned, transformed, and presented, providing the basis for predictive analytics modelling and insights into existing work processes.
As companies begin to scratch the surface of the data resources they have, hidden relationships between events and variables are uncovered. Factors that were never apparent can surface, even to the objective observer, and visual relationships and correlations emerge. Insights gained help both data specialists and line-of-business experts to determine how best to achieve the company’s objectives.
For line-of-business managers and non-data scientists, the visual language of Minitab helps show and correlate the various factors at play. It allows them to create predicted outcomes to proposed changes to operations in safe modelling environments.
The beauty of the Minitab portfolio is its design for use in practical settings. The platform’s openness and user interface mean it can be used in multiple verticals and unexpected use-cases: manufacturer Tate & Lyle used AI techniques and plotted thousands of variables to refine its sweetener consistency for better customer experience, for example. Where one might least expect it, Minitab’s statistical power is creating change.
In a vast range of industries, advanced analytical modelling, analysis, and machine learning algorithms are being deployed by organizations to improve outcomes in thousands of scenarios. At one time, this type of statistical analysis was only seen in finance and high-end medical research and pharma, but not today. Minitab is making real, meaningful differences in thousands of settings.
It integrates with both cloud and on-premises applications and services, from marcomms to stream processors. Minitab installs locally or is now available as a SaaS, ready to be accessed from anywhere with an internet connection.
To learn more about the Minitab suite of offerings and begin leveraging its accessible power to affect change, start your journey here.