MUST ALL COMPANIES INVEST IN ANALYTICS?
It depends on what happens is that not all of them should invest in the same type of analytics either because they do not have the resources or in the stage of their life cycle as a company it is not yet a priority. For example, surely you know companies that already apply descriptive analytics, although they do not identify it by that name; this is very useful when you need to do different activities. Here you need to apply descriptive analytics in the reports and visualizations that describe and summarize what happened. In this case: a sales report. Here, we work to automate all the processes so that our client has more time available to analyze, interpret and design actions that allow monetizing the information contained in the informs instead of dedicating themselves to producing them.
WHAT IS NEEDED TO START AN ANALYTICS PROJECT?
At least two items are required to start an analytics project. The first is to have data (internal or external). These should have a data dictionary and have previously undergone a quality analysis that suggests the suitability for processing. Secondly, you have to be clear about the business questions when you want to answer the whole project, i. e. what information you want to provide from the model and its use.
IS IT VERY EXPENSIVE TO CARRY OUT AN ANALYTICAL PROJECT?
It depends on many elements, the complexity of the project, the volume and the quality of the data, the number of business questions to be solved, the need for the model's response (real-time or with a delay) among others. What is true is that at DAnalytics we have managed prices from two million pesos and for large projects DAnalytics includes the first stage of feasibility analysis, which corresponds to a percentage of the total value of the contract. If the analysis shows that it is not feasible to carry out what is requested by the client or requires elements not contemplated in the original proposal that the client cannot assume financially, we will cancel only the agreed percentage.
HOW DO I KNOW IF I HAVE A BIG DATA PROBLEM?
You will know if your data corresponds to hundreds of audios, images, video, or unstructured text if, on your computer, you try to open your database but, if it's not possible, you are probably facing Big Data.