Methods-Based Analytics Taxonomy

Business analytics has recently focused on statistical analysis, data mining, and statistical machine-learning methods to analyze big data. These are mathematical methods that work with numerical data or symbolic data encoded as numerical data, but they do not capture the domain material that reflects critical factors that affect business decisions, such as culture, political environment, gender, age, and ethnic preferences, geographic and demographic features, and so on.

There are a multitude of other methods for analyzing data and information. Table A.1 presents a taxonomy of analytics based on classes of methods. This taxonomy was first developed by Stephen Kaisler and Claudio Cioffi-Revilla (Kaisler ...

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