# Analytics toolbox

#### SELECTION PATH OF ANALYTICAL MODEL

When solving a business question with the help of data, it is essential which analytical model is chosen. Each case to be solved requires a modelling system of its own kind and a certain set of variables. The question path of **the attached diagram** illustrates which models are suitable to be used in the case to be solved.

#### TECHNOLOGIES VOCABULARY

The storage, processing and use of data at a precise level require the right tools, databases and databanks. The range of various technologies related to the collection, storage, reporting, visualisation and analysis of data is wide, and new technologies and terms arise on a continuous basis. From the viewpoint of knowledge management, however, there are clear roles for the technologies used. For the vocabulary see below.

http://blog.houston-analytics.com/blog/houston-analytics-accelerator-a-breakthrough-in-the-spss-modeler-teradata-uploading-methods

#### ANALYTICS VOCABULARY

Advanced analytics refers to using data to explain phenomena that have taken place or to predict future events. While traditional reporting looks into history, modern analytical tools open a window to the future. Analytics is based on the use of mathematical models. The theoretical bases and uses of the models are varied. For the vocabulary see below.

### Technologies vocabulary

### Analytics vocabulary

Association analyses

Bayesian methods

Business analytics

Business intelligence

Classification methods

Coefficient of determination

Confidence interval

Confounding variable

Control group

Correlation

Cross tabulation

Cross-over study design

Customer analytics

Data mining

Data science

Data synchronisation

Decision-making window

Dependent variable (response variable)

Descriptive analytics

Experimental design

Frequency distribution

Grouping methods (segmentation, clustering)

Hypothesis testing methods

Industrial internet (Internet of things)

Machine learning

Missing data

Moving average

Multivariate methods

Neural network

Noise

Optimisation (mathematical)

Outlier

Path analysis

Prediction model

Predictive analytics

Prescriptive analytics

Regression analysis

Root cause analysis

Sample

Scoring

Significance level

Simulation methods

Standard deviation

Survey

Survival analysis

Text analysis

Time series analysis

Variation coefficient

Web analytics

Predictive and Descriptive analytics

IBM SPSS Modeler

IBM SPSS Modeler Server

IBM SPSS Collaboration and Deployment Services

Optimization / Prescriptive analytics

IBM ILOG CPLEX Optimization Studio

IBM Decision optimization Center

Reporting and Business intelligence

IBM Cognos

Business planning

IBM Cognos TM1

IBM Predictive Customer Intelligence

IBM Predictive Maintenance and Quality

IBM Counter Fraud Management

**Watson**

WEX (Watson Explorer)

APIt

**Bluemix**

**Softlayer**