Data Analytics and Machine Learning technologies are causing a great revolution in the current market. The ability to collect, store and analyze massive amounts of data in real time is enabling companies to make more accurate decisions.
But how does this work in practice?
Briefly, the data are extracted from the company's transactional systems, such as the financial control system, inventory control, production control, Customer Service System, among many others.
From this extraction, the data is transformed, that is, formatted according to the final objective that the company seeks, such as, for example, identifying the risks for sales on credit, or the risk of default, as well as, based on the behavior customer purchasing process to identify which offers would be viable for each specific customer.
Once formatted, models are created that can, through the use of artificial intelligence, generate relevant analyzes or visualizations or approach guidelines for the selected public.
All this can and is usually already done without the use of technology, but technology expands this capacity, that is, with technology it is possible to analyze a much larger set of data in a short period of time.
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We will delve into each of these subjects in the next articles.
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