Question

Define cognitive analytics. Determine 3 different business scenarios where an exploratory data analysis using cognitive analytics might be helpful. Using the different scenarios, determine internal data that might be useful in better understanding the relationship between the company and customers

Answer 1

Define cognitive analytics.

Cognitive analytics can be defined as analytics process that use human like Intelligence and appropriate tools and technologies that are capable to gather various data sources within Its analytics process, further, such data sources can be analyzed for business Intelligence purpose and decision making purpose,

Determine 3 different business scenarios where an exploratory data analysis using cognitive analytics might be helpful.

Now, let me explain about 3 different business scenarios, where such exploratory data analysis using cognitive analytics might be helpful, those are as stated below:

• Let me consider Health care Industry, here, Patients, user and other stakeholders can get updated health and benefits related Information by using cognitive powered tool, here, this tool also care share personalized recommendation, it also can share responses as reply to questions submitted by customers,
• In Finance Industry, using Cognitive Powered Tool, it can share us fact based and much effective Investment related suggestions,
• In sports and entertainment Industry, Cognitive Powered tool can hare various useful insights with Coaches, Personal Trainers, Sport Enthusiasts, that insight can reduce Injuries and help to improve performance level,

Using the different scenarios, determine internal data that might be useful in better understanding the relationship between the company and customers

Various Internal data that might be useful in better understanding the relationship between the company and customers, those are as stated below:

• Customers basic Information, their choices, demographic Information like age, ethnicity, gender, education, profession, Income details, marital status, etc
• Psychographic Information of customers, like their belief, personality traits, opinions, choices, etc,
• Other internal data like time spent related Information, budget and cost expenditure related Information,