What is Descriptive Analytics?
Descriptive Analytics consists in the storage and aggregation of historical data, visualising them so that they can help understand the current and past states of the business. Descriptive Analytics tells us how our business has worked up to the present day. It allows us, for instance, to:
Detect which products are most sold and where.
Visualise how people posting tweets about a certain topic or public figure are geographically distributed.
Study the historical evolution of the demand for a specific service or product, in different time periods.
Identify which news from the media is having the highest impact on social networks, according to different topics.
Calculate and visualize several KPIs, defined by the client, that inform about the state of the business and alert us to problems arising.
Find out who are the most influential people within a company’s communication network, or where are the bottlenecks among departments.
In general, any kind of data may be shown in a friendly way using aggregation or visualization techniques for the information.
How does it work?
Descriptive Analytics is based on working on a storage system where all data that are relevant for the business are concentrated. We could be dealing with a system of files distributed in Hadoop style or similar ones, NoSQL data bases, or more traditional SQL systems. It all depends on the quantity and complexity of the data we are dealing with. On this storage layer, some technologies are displayed allowing these data to be processed, both in batch mode and online, so that the aggregations and inquiries needed for the analysis can be performed.
Once the technological platform is displayed, different data visualization strategies will be applied in order to summarize the state of the business. A series of key measurements or KPIs calculated on the basis of the data are defined along with the client, whether to be visualised or to define a series of rules on them, so that they generate automatic alerts whenever the values expected are being exceeded.
Benefits and value of IIC Descriptive Analytics solutions
Descriptive Analytics contributes to:
Intelligent management, since what is not measured cannot be controlled, and Descriptive Analytics is the first step towards running a business better.
Costs reduction, as making written reports on the state of the business is time and money consuming, and automatizing the information gathering process and the generation of summary charts would reduce the costs of the whole process.
Guaranteed efficiency of IIC Descriptive Analytics solutions
The IIC expertise and focus for over 25 years has been the solutions based on data, from Descriptive Analytics to the highest levels of analysis. At IIC we count on professionals qualified for the use of different data storage systems, both traditional and the most recent ones derived from the Hadoop ecosystem or the NoSQL world, which enables us to apply our analytics solutions to any system.
The visualization solutions developed by IIC may be implemented both at the client’s premises and through remote access. They are also accessible as a SaaS solution, which makes them easier to be used.
Descriptive Analytics allows us to know how the demand for a certain service or product evolves.