Application of Analytics in Today's 'Data-Driven' World

• Activity Number: 52
• Type: Invited
• Date/Time: Sunday, August 3, 2014 : 4:00 PM to 5:50 PM
• Sponsor: Business and Economic Statistics Section
• Author(s): Sinjini Mitra*+
• Companies: California State University, Fullerton
• Keywords: Analytics ; statistical models ; predictive models ; healthcare ; security ; visualization ; software

Abstract

Business Analytics is the discovery and communication of meaningful patterns in data. Especially valuable in areas rich with recorded information, analytics relies on the simultaneous application of statistics, computer programming and operations research to quantify performance and make decisions that drive businesses. Owing to the availability of massive amounts of data, the need for analytics is paramount today. In this talk, I will provide some examples of applications of analytics in different areas namely, healthcare, education, security, etc. by focusing on various statistical tools that are most widely employed. Some highlights and observations from recent case studies and research studies will be discussed. I will briefly mention some popular visualization techniques available today as well, particularly for representing big data, and conclude with an overview of various software packages and platforms available today for processing, analyzing and visualizing such data.