LG CNS chief executive Kim Dae-hoon said Thursday advanced analytics is rising as a new paradigm that offers insight and understanding, with “intelligence” becoming the keyword in this smart era.

“There were other analytics in the past but advanced analytics is differentiated from others because it finds what’s meaningful in various piles of data, which helps people understand the situation more quickly and make forecasts, while getting the insights,” he said during his keynote speech at its conference called the Entrue World 2012.

He also stressed that advanced analytics is most likely to become useful in the era of big data as more people get their hands on wireless devices that release massive amount of data on the Web.

“The increase of social media outlets is one that must be analyzed,” said Kim. “A total of 30 billion contents are published monthly on Facebook and 190 million tweets are show every day on Twitter. As a result, demands for data analysis are on the increase to reflect them in business tactics.”

Advanced analytics could also be applied in a number of business sectors such as quality control, profitability management, customer services, market watch and fraud detection, according to Kim.

“Analysis of uncategorized data becomes possible and it cuts down the time lost until taking of the action in business events through real-time streaming of data,” he said.

“It also becomes possible to find out how my current decision will impact the future. It’s a paradigm shift.”

Indicating that the firm is currently expanding the number of advanced analytics appliance cases, new technologies and big amount of data are driving up the level of demand, said Kim.

“Looking back at our analysis in the past, there were many limitations in top management and business operations,” he said. “We plan to provide in-depth analysis and forecast for the top management’s drafting of strategies, to save costs in business operations and create new business opportunities based on customer insights.”

By Cho Ji-hyun (sharon@heraldcorp.com)