History teaches us how to predict the future. Historical data can help forecast future trends and needs detailed analysis, called descriptive analytics.
Indium Software’s Big Data solutions include culling past to observe patterns, correlation between variables and predict future strategies suggested by these trends.
Answering the question “What has happened?”, Indium Software develops tools that can present the data in a format best suited for the relationship between the variables to be best understood. It uses key performance indicators to drill down and uncover patterns such as periodicity of events, cost of operations and root cause analysis of failures.
Indium Software’s approach to Descriptive Analysis helps:
Increase asset reliability
Reduce effort and inventory costs
Control asset failures
Assess maintenance costs
Generate ad hoc and standard reports based on need and criticality
Indium Software’s service offerings for Descriptive Analytics include:
Exploratory Descriptive Analytics involving preliminary exploration of a data set prior to rigorous analyses. A form of data profiling, it helps assess data consistency as well as formatting discrepancies, if any. Giving insight into the variations, relationships, and patterns in the data, Indium Software leverages this analytics to design the subsequent analyses for culling insights that can help in better decision making.
Once the nature of the data is established, Focused Descriptive Analytics is designed to extract answers specific to business requirements.
Indium Software’s data scientists evaluate the apt processes, ideal tools and prepare the queries that can effective turn your data into a mine of information for being able to view the past trends to predict the future.