Friday, November 25, 2011

It's time to do more statistical analysis with less

Oracle R is an open source statistical analysis tool that is open source and runs off of Oracle DBs, you do need to have Oracle 11g.

Statistical analysis is something that all places need to do more of, and having something free to use can be a great boon. It's an easy sell, hey, we need to install this for free, and then see if it will help us manage our business better.

An example, a company that makes a great product but cannot ship product because it is so backlogged is not managing inventory correctly. They will lose customers because they haven't planned out their demand properly.

Great uses for Statistical analysis:
--Investigate and Minimize Fraud
--Inventory planning based on prior trends
--Sales and Cash flow planning

Learn about Oracle "R" Enterprise via a Techcast on Nov 30, 2011, noon EST by Mark Hornick.

1 comments:

Aimee L'Mieux said...

I just took a basic statistical class in college and it was so interesting how you could use it to analyze so much. It made me want to experiment more with probability and try to solve the more questionable things of life.