Jan 22, 2015

'Something' Analytics the New Buzz Word?

From Big Data to Data Science to Machine Learning to Natural Language Processing, and now the next new Buzz Word I've been hearing lately is "Something" Analytics.  I've always heard of Google Analytics, Healthcare Analytics and Text Analytics, but here's a list of some new analytics buzz words. Some - you've already heard of, some might surprise you:

Natural Language Analytics - referring to the use of NLP

Review Analytics - analysis capability for user reviews.

Sentiment Analytics - well, basically sentiment analysis

Sports Analytics - statistics + sports

Onco Analytics - analysis of cancer treatment and success rates

Pinterest Analytics analysis of pins

Twitter Analytics -  analysis of your Tweet activities

Advertising Analytics -  analysis of how your ads worked across media and sales channels

Strategy Analytics - analysis and recommendation of business strategies

Academic Analytics process of evaluating and analysing organisational data received from university systems for reporting and decision making

Prayas Analytics - quantifies the offline customer experience for brick-and-mortar retailers (company).

Aging Analytics - research in biotechnology and regenerative medicine

Learning Analytics - analysis and reporting of data about learners and their contexts, for optimizing learning and the environments in which it occurs

'Something Analytics' refers to the use of predictive models? 

No, absolutely not! The term analytics is actually overloaded. Some companies and institution use the term 'analytics' to refer to the use of predictive models as the underlying technology. In many cases though, it just refers to the data-driven analysis, reporting and decision making capability in a specific domain. Bottom line - when you see the term 'analytics' in use it usually means some form of data analysis in plain traditional terms. 

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