For years, businesses have been organizing information on spreadsheets to run analytics, such as summary statistics by group. Of course, to get value out of the tool, the user needed to understand the output, otherwise, the exercise was meaningless and provided no direction for strategic decision making. This interesting and important information came to us from CIO in their article, “The evolution of data analytics.”
Even further back, long before the advent of information technology, human civilization leveraged data in the ancient and mediaeval times for better decision making. But back to the spreadsheet, while it was a great start for the everyday business professional’s analytic needs, it could be a blunt tool without the necessary nuances for deeper insights.
Analytics today provides an opportunity to scale decision making processes to industrial strength. Creating many more models through machine learning can let an organization become much more granular and precise in its predictions.
Learning from the data is important. However we have to make the data accessible first. Whatever you are searching for, it is important to have a comprehensive search feature and quality indexing against a standards-based taxonomy. Choose the right partner in technology, especially when your content is in their hands. Access Innovations is known as a leader in database production, standards development, and creating and applying taxonomies.
Melody K. Smith
Sponsored by Access Innovations, changing search to found.