The role of analytics has definitely changed over the years — today we work on segments of data and re-structure database on those assumptions. The assumptions could be around the questions you have. We are now able to work much more in the discovery stage.
In the past, one had to ask a question and in case there were billion records, only 10 records were displayed. One was then required to arrive on a mean or average. However, today we can plot a billion records and see what they represent.
In the past to calculate market risk in a bank, one had to do a lot of iterations, with each calculation taking about 20 minutes. So, the calculations earlier Read More