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Every business should look for ways to monetize big data and use it to optimize your business model. The number of companies using big data is growing at an accelerated rate. One poll found that 53% of businesses were using big dataanalytics in 2017. However, companies need to use big data wisely.
is delinquent as of June 30th, 2017. Using algorithms, AI is now able to store data before making a prediction about something – such as when a debtor is likely to pay. And this data is crucial in taking the necessary steps to ensure successful debt collection. Out of which, $400 billion is delinquent for more than 90 days.
Accordingly, predictive and prescriptive analytics are by far the most discussed business analytics trends among the BI professionals, especially since big data is becoming the main focus of analytics processes that are being leveraged not just by big enterprises, but small and medium-sized businesses alike.
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