Data Analytics and Machine Learning technologies are causing a major revolution in today's market. The ability to collect, store, and analyze large amounts of data in real time is enabling companies to make more precise decisions.
But how does this work in practice?
Briefly, data is extracted from the company's transactional systems, such as 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 the company seeks, such as identifying risks for installment sales, or the risk of default, as well as, from the customer's purchasing behavior, identifying which offers would be viable for each specific customer.
Once formatted, models are created that can, through the use of artificial intelligence, generate relevant analyses or visualizations or approach guidelines for the selected audience.
All of this can and normally is already done without the use of technology, but technology amplifies 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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Let's delve deeper into each of these topics in the next articles.
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