What is Advanced Analytics?

Advanced analytics is used to evaluate and examine large datasets of real-time and historical data with the help of sophisticated autonomous and semi-autonomous tools, such as artificial intelligence and machine learning algorithms. It can be used to analyze structured or unstructured data, but note that text-based, unstructured data is typically processed using tools such as text mining before it becomes useful information. Advanced analytic techniques include those such as data/text mining, machine learning, pattern matching, forecasting, visualization, semantic analysis, sentiment analysis, network and cluster analysis, multivariate statistics, graph analysis, simulation, complex event processing and neural networks.