Assicurazioni Generali and RCS Media Group won Big Data Innovation Award on 2016 and this year who will win the prize? Attend the event

The Big Data Analytics and Business Intelligence observatory is the landmark for decision makers, enterprises, public administration because it aims to let attention on the strategic value of these methodologies for competitiveness, profitability, timeliness and the influence on the enterprise decisions process.

This meeting reply to these questions:

-what is the value of analytics market in Italy;

-state of development about analytics market in Italy;

-organization models spreads for data science management;

-opportunities of competitiveness with Big Data (BDA);

-technology propagation in Big Data;

-understand the start up role inside Big Data & Business Intelligence (BI);

-identify successful cases;

-identify patterns to adopt BDA & BI solutions.

Analytics market was raised up by 15 % on 2016 with 905 millions euro worth and so on the opportunity to become a data-driven company was a necessity.

At 2016 the spread of analytics in big enterprises was confirmed, while there was a marginal grow in small enterprises. A central role was played by start up with competition and innovation solutions.

What is the mean of Big Data analytics and what is the relationship with Business Intelligence (BI) ?

Big Data analytics is an integrated form of data analytics and web analytics for big data.

This picture explains it in three layers: at the bottom there are Big Data and data analytics, while at the top there is Big Data analytics.

In the middle layer, as the core part, there are Big Data prescriptive analytics, Big Data predictive analytics and Big Data descriptive analytics.

-Big Data descriptive analytics is used to discover and explain features of entities and relationships between it within the existing Big Data;

-Big Data predictive analytics is focused on forecasting trends and answers at issues as what will happen;

-Big Data prescriptive analytics replies on these issues: what should we do, why should do it and what should happen with the best outcome under uncertainty.

There are different definitions on BI:

-as providing decision makers with valuable information and knowledge;

-as a collection of information systems and technologies to support high level decisions;

-as a framework to improve decision making.

Big Data analytics can be considered a part of BI because it gives a carry on decision making through data, information and knowledge.

Business Intelligence is currently based on four web service pillars: cloud services, mobile services, big data services and social network services.

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Author: Claudio Giancaterino

Actuary & Data Science Enthusiast

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