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Everything You Should Know About Advanced Analytics

Nowadays, analytics and data are becoming more and more important to the way that large businesses function. After all, data science can provide companies with important details about how they’re performing compared to historical data as well as where they may be able to improve in the future. This emphasis on technology users and data scientists alike looking for vendors that offer business intelligence software capable of advanced analytical processes, artificial intelligence, and machine learning has led to a crowded field overall. That being said, there are ways to cut through the amount of information and the competing vendors you’ll come across in order to find the right analytics solution for you.

As you begin delving into the world of data science and advanced analytics, it’s important to remember that not every platform is created equally. While there are some companies that specialize in niche software for particular sectors of industry, others are leading enterprises that offer a full-featured and robust system that almost any business can find use in. When you start comparing different analytics platforms, here are a few tips to keep in mind to help you make the right choice.

1. Understand your company’s specific needs.


One of the most critical aspects of searching for a data science platform to use in your business is to understand what your company’s specific needs are. While machine learning platforms are certainly cutting-edge, not every company needs machine learning capabilities. Other types of businesses may aspire to have machine learning for a particular purpose in the future, but ultimately decide that machine learning platforms aren’t going to make or break their decision. There are plenty of challengers that can offer your business value that don’t have machine learning capabilities at all, but you may know that API integration is a must-have feature. Ultimately, in order to make the best decision for you and your business, you should talk to each department of your company in order to prioritize a variety of needs and ensure that the system you choose can perform those critical capabilities.

2. Look to third-party research publications.

You’ll likely come across a lot of sales literature and sponsored whitepapers while you research various analytics platforms. Research publications are better than these sorts of affiliates since you know that they’re using their own data to come to conclusions about the future of analytics and which companies are truly analytics leaders as opposed to ones that won’t necessarily help improve your business processes. The Gartner data science report is one such research paper worth reading, since it scores companies based on a variety of proprietary methods for analyzing qualitative data. These sorts of insights from Gartner’s researchers have lead to the proliferation of an empowered class of analytics consumer who has a greater depth of information at their fingertips as they weigh their decisions. Especially thanks to tools like the Gartner magic quadrant, which categorizes companies as leaders, visionaries, niche players, and challengers, it’s easier than ever to figure out which vendor is worth your time, money, and energy.

3. The company with the highest ratings isn’t necessarily perfect for you.


One thing to remember as you look to research firms like Gartner in order to help you make your decision is that getting high ratings and being the right choice for your business isn’t always the same thing. Remember that list of critical capabilities you came up with earlier when you spoke with different teams? It’s possible that the sorts of values Gartner prizes don’t necessarily match the converged capabilities that your employees value. As such, anything from the price to the user interface may ultimately affect the option you settle on, even as the Gartner report is helpful in narrowing the field down.

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