Advanced analytics

What is advanced analytics? Advanced analytics is the use of next-generation tools and techniques that are way more advanced than traditional business intelligence (BI) techniques. Advanced analytics helps in gaining deeper insights and finding patterns that can be used in making predictions or generating recommendations. Advanced analytics techniques include data/text mining, ML algorithms, pattern matching, semantic analysis, sentiment analysis, generative networks, cluster analysis, simulation, and neural networks.

As we can see from the preceding definition, advanced analytics is about going above and beyond the traditional ways of doing analytics. It uses ML, data/text mining, pattern matching, and semantic analysis, which all are somehow related to the data science field. Now, you might think that data science and advanced analytics are the same, but they are not. There is quite a difference between the two fields. Although they seem similar and share some...