Artificial intelligence can have many purposes and serve different goals. For instance, many organizations use AI to simplify repetitive tasks that previously had to be performed by human workers. However, there’s another incredibly exciting application of AI, and that’s advanced analytics consulting. What’s the difference between advanced analytics consulting and typical AI consulting services? And how your company can benefit from this service? Let’s find out!
AI consulting is a subject that frequently comes up on our blog and for a reason. Data science is one of our core activities. When done correctly, it can be immensely helpful. In short, AI consulting helps companies devise and design artificial intelligence algorithms and machine learning tools that help them achieve various goals and perform different tasks. However, on many occasions, our clients ask us about ways to improve their analytics. They want to know much more about their businesses and performance rates. They want to identify possible weak points and strengthen elements that already work well. This is where advanced analytics consulting comes into play.
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Advanced analytics consulting–what is this service all about?
Advanced analytics consulting is the next step in broadly understood data science. This service helps companies design customized strategies that turn their data into real, measurable benefits resulting in improved competitive advantage. Addepto’s advanced analytics consulting practice is supported by the most experienced data science experts who are highly skilled in algorithms and data analytics. Many of them hold advanced degrees in fields like statistics, mathematics, and computer science. They are trained to apply state-of-the-art techniques, tools, and technology to ensure that our clients gain accurate and useful insights from their data.
When it comes to advanced analytics consulting, our primary focus is on your company and its needs. There’s no room for copy-paste here. All the analytical models, tools, and datasets are built from scratch specifically to meet your needs. Furthermore, our solutions are tested and proven to be effective in your industry/niche.
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Advanced analytics consulting: A MULTIDIMENSIONAL SERVICE
Advanced analytics consulting is one of the most complex and multidimensional services in the artificial intelligence/data science field. It comprises strictly strategical, analytical, and consulting competencies. In fact, within this one service, you get a mix that consists of:
- Strategy analytics
- Predictive analytics
- Statistical analysis
- Analytical support
- Machine learning algorithms
- Data mining
- Various data science tools
This really shows how extensive this service is, doesn’t it? Of course, this doesn’t mean that each time we have to use all of these elements, most of them are in full operation in most situations.
It’s one of the most recognizable examples of advanced analytics consulting. Possibly, you’ve already heard about business intelligence. Shortly, this service combines and analyzes big data and helps your company to turn it into useful knowledge. If you are interested in this service, see our business intelligence services, and drop us a line! We will help you to extract insights from the data you possess and turn it into profits and valuable information.
Now, let us get back to the advanced analytics consulting question. What does our work look like? We can say that the typical process is based on three crucial elements:
Advanced analytics consulting: CUTTING-EDGE ANALYTICAL AND MODELLING TOOLS
In regard to advanced analytics consulting, we always harness our most advanced and complex AI/ML techniques and modeling tools. Therefore, you can be assured that the result you obtain is top-notch.
COMBINING YOUR DATA WITH OUR DATASETS
Our extensive experience allowed us to gain knowledge and datasets that can be extremely useful in your project. In fact, we have worked with so many companies and industries; we can approach your project with a sturdy foundation.
We understand the role of frequent communication in data analytics. That’s why, when you decide to work with us, you have our data scientists and analytics consultants at your service. They are always keen to answer all your questions and support your in-house teams/employees who might need help with analyzing data or interpreting it.
With our help, you can really take your company to a whole new level of development. Advanced analytics consulting helps organizations in:
- Analyzing and solving current challenges and issues
- Enhancing their procedures and processes
- Locating and exploring potential possibilities and weaknesses
Sounds interesting? Well, it is!
However, at this point, we have to mention that there are a few challenges along the way. Advanced analytics consulting is not something you can implement overnight. You should be aware of potential threats and challenges and overcome them if you want to make the most of this service. What are these challenges?
Advanced analytics consulting: Challenges
For starters, we have to know where to start. It may sound amusing, but in many instances, that’s a real problem! You see, companies that utilize big data can, at some point, get lost in all of those massive volumes of information. Your first step should be to organize and clean big data you deal with in such a situation. And then, you have to know what goal you are expecting to achieve. We talk about that repeatedly on our blog, but that’s because this aspect of data science is an absolute foundation. Without this knowledge, you won’t be able to get anywhere, no matter how advanced and complex modeling and analytical tools you use.
Another challenge is to help your internal teams understand and get acquainted with these new solutions and approaches. It can be a massive milestone in the company’s history, and you should have everyone on board. That’s why it’s so crucial to educate your employees (at least the ones directly associated with this question) and offer them some training when needed. Our team is always happy to help your team understand the significance of our work. Whenever necessary, we can conduct a presentation or training that will help them better understand what we want to achieve and how.
And finally, there’s the reporting question. We have noticed that many managers don’t pay a lot of attention to getting acquainted with data science reports and recommendations. And that’s a big mistake! Our role is to make these reports as useful and concise as possible, but you still have to devote some time to get acquainted with them in order to make the most of our service. After all, the result of our work is a basis that helps you make more informed decisions!
Now, let’s talk about the benefits of implementing advanced analytics consulting in your organization.
Advanced analytics consulting: Benefits
We have already mentioned some of the essential benefits. Above all, advanced analytics consulting helps you get the most of the data your company processes. Along with our experience and top-notch AI/ML models and algorithms–you have the opportunity to know much more about your business and customers.
But there’s more:
ACCESS TO THE LATEST ANALYTICS TECHNIQUES
If you run a dynamically developing large company, you have to utilize the latest, most advanced data analytics techniques. Only this way will you be able to get everything you need to continue your growth.
Companies that leverage advanced analytics consulting operate on a lowered risk level. The more variables you have under control, the more you know, the less risky decisions you can make. And this is what advanced analytics consulting offers.
ENHANCING YOUR INTERNAL ANALYTICS TEAM
If you have an in-house analytics team, they can also benefit from knowledge and know-how with advanced analytics consulting. With this service, you can broaden their knowledge and raise their competencies, making them more useful in the future.
IMPROVED DECISION-MAKING PROCESS
Advanced analytics consulting is all about analyzing various aspects of your company and improving processes that happen within. Our algorithms and models can help you explore every process or procedure in your company, think about improving it, and then facilitate this change.
As a result, your company works faster and more efficiently.
IMPROVED PROCESSES AND PROCEDURES
Advanced analytics consulting is all about analyzing various aspects of your company and improving processes that happen within. Our algorithms and models can help you explore every process or procedure in your company, think about improving it, and then facilitate this change. As a result, your company works faster and more efficiently.
REDUCED TIME TO MARKET
If you’re thinking about launching a new product or service, you surely understand how a significant endeavor this is. Advanced analytics consulting will help you with this process and make it faster and more straightforward. This way, your new product’s launch will be a tremendous success!
As you can see, advanced analytics consulting can offer some amazing enhancements to your business. If you are interested in adopting this service–drop us a line. In its essence, advanced analytics consulting is a tailor-made service that requires a lot of initial work. We will gladly guide you through this process and show you the possible benefits for your company. Get in touch today, and let the work begin!