Analytics is the study of business data using statistical analysis in order to discover and understand historical patterns with an eye to predicting and improving business performance in the future. Some people use the term "Analytics" to denote the use of mathematics in business. This field includes the use of Operations Research, Statistics and Probability. Image File history File links This is a lossless scalable vector image. ...

Analytics closely resembles statistical analysis and data mining, but tends to be based on physics modeling involving extensive computation. Some fields within the area of analytics are enterprise decision management, marketing analytics, predictive science, strategy science, credit risk analysis and fraud analytics. Statistics is the science and practice of developing knowledge through the use of empirical data expressed in quantitative form. ... Data mining has been defined as the nontrivial extraction of implicit, previously unknown, and potentially useful information from data [1] and the science of extracting useful information from large data sets or databases [2]. Data mining involves sorting through large amounts of data and picking out relevant information. ...

Portfolio analysis

A common application of business analytics is portfolio analysis. In this, a bank or lending agency has a collection of accounts of varying value and risk. The accounts may differ by the social status (wealthy, middle-class, poor, etc.) of the holder, the geographical location, its net value, and many other factors. The lender must balance the return on the loan with the risk of default for each loan. The question is then how to evaluate the portfolio as a whole. Look up portfolio in Wiktionary, the free dictionary. ... “Banker” redirects here. ...

For instance, the least risk loan may be to the very wealthy. However, there are a very limited number of wealthy people. On the other hand there are many poor that can be lent to, but at greater risk. Some balance must be struck that maximizes return and minimizes risk.

The analytics solution may combine time series analysis, with many other issues in order to make decisions on when to lend money to these different borrower segments, or decisions on the interest rate charged to members of a portfolio segment to cover any losses among members in that segment. In statistics, signal processing, and econometrics, a time series is a sequence of data points, measured typically at successive times, spaced at (often uniform) time intervals. ...

See also

Look up Analytics in
Wiktionary, the free dictionary.

• Predictive analytics
• Data mining
• Machine learning
• List of software engineering topics
• Statistics
• OLAP
• Business intelligence
• Web analytics
• Business analytics

Wikipedia does not have an article with this exact name. ... Wiktionary (a portmanteau of wiki and dictionary) is a multilingual, Web-based project to create a free content dictionary, available in over 150 languages. ... Predictive analytics encompasses a variety of techniques from statistics and data mining that process current and historical data in order to make “predictions” about future events. ... Data mining has been defined as the nontrivial extraction of implicit, previously unknown, and potentially useful information from data [1] and the science of extracting useful information from large data sets or databases [2]. Data mining involves sorting through large amounts of data and picking out relevant information. ... As a broad subfield of artificial intelligence, machine learning is concerned with the design and development of algorithms and techniques that allow computers to learn. At a general level, there are two types of learning: inductive, and deductive. ... This list complements the software engineering article, giving more details and examples. ... A graph of a normal bell curve showing statistics used in educational assessment and comparing various grading methods. ... On Line Analytical Processing, or OLAP, is an approach to quickly provide answers to analytical queries that are dimensional in nature. ... Business intelligence (BI) is a business management term, which refers to applications and technologies that are used to gather, provide access to, and analyze data and information about company operations. ... Web analytics is the study of the behaviour of website visitors. ... Business Analytics is a term that describes how organizations gather and interpret data in order to make better business decisions and to optimize business processes. ...

External links

• The Institute of Analytics Professionals of Australia Limited - professional organisation promoting the benefits of analytics and data mining in modern business

• Fractal Analytics Ltd. - leading provider of analytics services that help businesses enhance effectiveness of their marketing and risk management programs