Introduction and journey of analytics

Algorithmic business, an advanced version of analytics, has emerged as the next big thing. Analytics strengthen an organization's understanding of the customers' needs, likes, and dislikes. To fuel these studies, organizations are collecting data from numerous physical and virtual sensors through initiatives, such as digital transformation and Internet of Things (IoT). The collected data then is analyzed in order to generate meaningful insights for companies. This paradigm shift has affected the entire market. WQR2016 illustrates how companies are embracing both digital transformation and IoT as tools to analyze and engage with customers in an efficient way, having a strong impact on the processes, procedures, and tools adopted by the IT industry:

In short, data can be amassed from various physical and virtual sources. Processing this data requires a step-by-step process that provides valuable insight at every level. Each stage's data...