8 Analytics Trends to Watch in 2015

Business analytics are becoming 'the air companies breathe and the oceans in which they swim,' according to Deloitte Analytics. These eight trends will dominate the analytics field in 2015.

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4. We Can Build the Bionic Brain Stronger, Faster, Better

The advent of cognitive analytics means we can now automate analytical thinking through machine learning. Cognitive analytics aren't a replacement for traditional information and analytics programs, but they appear to be capable of improving just about any knowledge-intensive undertaking.

"Modeled after the way the human brain processes information, draws conclusions and learns from actions taken, cognitive analytics uses technology, computing power and human interaction to generate hypotheses, make conclusions and express recommendations," Lucker says. "With cognitive computing, these recommendations can also be ranked by how likely it is that the response is accurate. What's more, iterative learning takes place at the machine level. The more data fed into a machine learning system, the better quality insights you get out of it."

It's the last point, Lucker says, that differentiates cognitive analytics from traditional analytics.

"With traditional analytics, data representing complex challenges or questions is analyzed, patterns are identified and historical or predictive insights are generated to inform decision making around those issues," he says. "Cognitive analytics goes one step further, feeding learnings back into the analytics ecosystem to be applied to the next iteration and new or related challenges. With each iteration, the mechanism gets smarter."

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