LARGE ITALIAN COMPANIES AND ADVANCED ANALYTICS

Recall that with Advanced Analytics we mean those projects belonging to the following three categories:

Predictive Analytics: projects whose goal is to predict future values ​​of a variable, through the use of statistical models or machine learning algorithms;

Prescriptive Analytics: projects whose goal is to offer decision makers operational or strategic solutions based on the analyzes carried out;

Automated Analytics: projects whose goal is to automate a specific action or process starting from data analysis.

A number of interesting trends have emerged from recent market research, related to Big Data Analytics and Business Intelligence, conducted by Dipartimento di Ingegneria Gestionale of Politecnico di Milano, that I consider important to underline within our Blog.

The first consideration is that almost all of the large Italian companies said they have investments in the field of data analysis and, of these, over half have projects in progress in the field of Advanced Analytics.

The second consideration is that the Advanced Analytics experiments, carried out in the last two years as innovative projects, have presented interesting innovations within three components: the data used, the analysis methodologies and the ability to analyze.

With regard to the data used, the substantial basis always remains composed of transactional data (used in 64% of the PoC – Proof of Concept), even if some integration with other types of data is starting to emerge, coming from other sources and unstructured data.

With reference the analysis methodologies, machine learning methodologies are generally used, in order to increase the performance of predictive models (approximately in 70% of cases). Of these PoCs, approximately 25% require the use of unstructured data (e.g. text, images, videos, audio files), although we know that this significantly increases the level of complexity, making it more difficult to extract predictive insights compared to the use of traditional structured information.

With regard to the ability to analyze, there is a growing push towards increasing the frequency of data updating. In 2019, 40% of PoCs foresee an analysis speed at least in near real-time (i.e. projects with data refresh rates quantifiable in hours or minutes) and, of these, at least one in three foresees the analysis streaming data (i.e. systems capable of supporting the constant flow of data to be analyzed continuously).

Therefore the current situation, photographed by the research of Politecnico di Milano, allows us to clearly see how large Italian companies are facing innovative projects, using increasingly heterogeneous data and with increasingly demanding methodologies and analytical skills, also showing a strong will to overcome the increased difficulties that these innovations entail.

In this regard, we thank some of our important clients who wanted our resources alongside them, with the aim of consolidating their technological skills, useful for the realization of Big Data and Advanced Analytics projects.

ACTION ICT

ACTION ICT is a young, dynamic and innovative IT company. It operates, both nationally and internationally, offering professional skills and design solutions in the ICT field to medium and large clients. Our areas of excellence are covered by three of our competence centers: ACTION DATA (Big Data Analytics and Artificial Intelligence), ACTION APP (Web & Mobile Application) and ACTION IOT (Internet of Things and Robotics).