Definition - What does Advanced Analytics mean?
Advanced analytics refers to a broad range of analytics that are intended to give businesses greater insight into their data than they could ordinarily. Some of these techniques include machine learning, data mining, predictive analytics, location analytics, big data analytics and location intelligence. A number of companies offer software packages that perform advanced analytics.
Techopedia explains Advanced Analytics
Advanced analytics is an umbrella term for a wide range of analytics techniques that make use of cutting-edge computing techniques such as machine learning. "Advanced analytics" seems to be more of a marketing term than a technical one, with software companies offering slightly different analytics techniques using the term, but typically offering things like predictive analytics, big data analytics, data mining and visualization, among others. The range of solutions includes on-premises tools SPSS as well as cloud-based systems such as Microsoft's Cortana Intelligence.
Applications of advanced analytics include healthcare, marketing and risk management.
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