Developing new and improved analytical models, algorithms, and statistical techniques to enhance data analysis capabilities and derive meaningful insights.

Analytics companies may collaborate with other companies or academic institutions to share knowledge and resources, and to develop new products or services.

For example, collaborating with a university to develop new machine learning models for analysing healthcare data.

Analytics companies may create new data products that can help companies make more informed decisions.

For example, creating predictive analytics tools that can forecast sales or customer behaviour.

Conducting R&D activities to enhance data security measures, develop encryption techniques and ensure compliance with privacy regulations, safeguarding sensitive information.

Analytics companies may develop new algorithms and models to improve the accuracy and efficiency of data analysis. 

For example, developing new machine learning algorithms that can identify patterns in data more accurately than existing algorithms.

Analytics companies may develop new software or platforms that can help companies collect, store, and analyse data more efficiently. 

For example, developing new data management software that can handle larger data sets or that can integrate with other tools.

Analytics companies may explore new data sources to find new insights or to create new products. 

For example, exploring data from social media platforms to identify trends and patterns that can help companies better understand their customers