Cognitive analytics! The field that has made it possible for machines to experience and penetrate datasets and process information! Cognitive analytics has bridged the gap between theoretical data and practical decision making. Today, for any business to succeed, it is important for the business to make practical decisions based on the data collected. To improve their ability to respond and sense to data, businesses need to use insights provided by cognitive analytics. It also helps in taking quick and practical decisions in real time. Cognitive analytics has revolutionized human interaction and engagement in data intensive environment.
How Cognitive Analysis has Changed Decision Making?
Cognitive analysis has changed the approach taken for information discovery and decision making. As cognitive analysis does not depend on predefined rules and structured queries, it is easier to process information, draw conclusions and transform experience into learning. Cognitive system uses technology systems to extract information from potentially relevant connections and information. It generates hypotheses to uncover answers and the possible answers are given as recommendations.
How Cognitive Analysis Differs from Traditional Decision Making?
In traditional decision making, higher amount of data does not help in better decision making. In cognitive analysis, more amount of data provided to a technology system ensures better learning. Higher learning results in better valued insights for the business. Traditional decision making relies on predefined rules and structured queries while cognitive analysis depends on technology systems. Traditional systems were limited but cognitive analysis has pushed passed these human limitations.
Benefits of Cognitive Analysis
Hypotheses generated during cognitive analysis are context-based and formed by exploring relationships between data sets. There are several benefits of cognitive analysis systems, it includes —
- It is undaunted by large volumes of data.
- It allows analysis and processing of data in real time.
- Fluctuations in form, quality and structure of data does not influence outcome.
- It can be easily used in different commercial and industrial niches.
- It can be utilized in complex technology based systems like cloud networks and supply chains.
Cognitive Analysis in Health Care
One of the earliest applications of cognitive analysis can be traced back to health care environment. In health care environment, there are volumes of structured and unstructured data in form of patient records, claim records, files, clinic notes, textbooks, medical journals and statistics of outbreak. With cognitive analysis, it became possible to improve quality and outcomes of patient care.
Not just health care, cognitive analysis is being used in financial, commercial as well as retail sectors. Improving the ability to sense and respond to data, cognitive analysis has great potential to draw potentially relevant connections and information.
Reference link – https://dupress.com/articles/2014-tech-trends-cognitive-analytics/