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Automated Analytics Process — The Next Stage of Competition on Analytics

In: Business Analytics Progress on Applications in Asia Pacific

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  • John Jian An LU

Abstract

This report explores the possibility of an automated process for carrying out retail banking analytics. While the practice of using data and quantitative techniques for decision-making has long been carried out by business analytics professionals, this report explores potential automation of some business analytics activities usually carried out by humans.As business analytics matures, the role of senior analysts will shift from creating advanced models to creating advanced processes that are capable of automating the creation of decision-assisting analytical models. The ‘automated analytical process’ requires highly advanced business analytics skills to set up, maintain and improve the process – these are jobs that cannot be automated. If established correctly, this process can assist daily decision-making in either automated or semi-automated modes.This report demonstrates the creation and testing of such an automated analytical process.

Suggested Citation

  • John Jian An LU, 2016. "Automated Analytics Process — The Next Stage of Competition on Analytics," World Scientific Book Chapters, in: Jorge L C Sanz (ed.), Business Analytics Progress on Applications in Asia Pacific, chapter 30, pages 781-802, World Scientific Publishing Co. Pte. Ltd..
    • Handle: RePEc:wsi:wschap:9789813149311_0030
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    More about this item

    Keywords

    Business Analytics; Entrepreneurship; Big Data; Information Technology;
    All these keywords.

    JEL classification:

    • L26 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - Entrepreneurship

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