For our first Simplifying Analytics podcast, Miguel Molina-Cosculluela, founder of Analytikus, interviewed Armando Alvarez, Chief Data Scientist and partner at Analytikus.
Armando, studied philosophy and applied mathematics and has been in doing advanced analytics projects for more than ten years. He will introduce us to the world of Advanced Analytics and Big Data.
We discussed a number of topics to begin to understand a little about this issue that is increasingly being publicized over the world.
Some of the highlights of our conversation include:
You can find below some of the thoughts exchanged in the interview:
Advanced analytics are a specific component of information management, along with BI, Data Management and EPM. Nowadays, in the business environment, organizations are increasingly demanding more advanced analysis that allows them to use higher volumes and various types of data to discover patterns and anomalies, and predict results. Its main feature is that they use mathematical models to analyze that information. For example, the cognitive logic has proven to be very powerful in Google Translations because now they use an artificial intelligence that makes translations even better. It is also important in the passage from text to audio and vice versa, in the analysis of images, emotions, etc.
Data Scientists are big data wranglers. They take an enormous mass of messy data points (unstructured and structured) and use their formidable skills in math, statistics and programming to clean, massage and organize them. Then they apply all their analytic powers (industry knowledge, contextual understanding, and skepticism of existing assumptions) to uncover hidden solutions to business challenges. On the other hand, Big Data refers to huge data sets that are orders of magnitude larger (volume); more diverse, including structured, semi structured, and unstructured data (variety); and arriving faster (velocity) than you or your organization has had to deal with before.
Armando said that advanced analytics are mostly used by the largest companies because they have to be able to combine the right people, tools, data and organizational focus to take advantage. It is necessary to have the information stored and registered and know the uses that can be given to that information.
Before finishing the interview, Armando Alvarez recommended an interesting book about Big Data and Advance Analytics called Big Data: The Management Revolution. This book can help us understand a little more about this new trend.
As per the contact information, you can contact Armando through LinkedIn and through Analytikus webpage.
If you have 15 minutes, listen to his complete interview here or through ITunes.