As a decision analyst, it is delightful to see all the excitement about the ever-increasing amounts of data available. But, when I see much of what data scientists are doing to find interesting patterns (descriptive analytics is just looking in the rear view mirros) and forecasting (predictive analytics, ideally our GPS), I see little attention paid to the real business decisions that might be informed by these insights (the decision analytics, helping our clients steer a better…

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For full post:  http://sctr7.com/2013/09/08/analytics-and-belief-the-struggle-for-truth/

Increasingly sophisticated analytics tools and methods are available to derive business insight from data.  However, as a discipline which drives insight from data, the crucial ‘last step’ in the analytics process is about organizational decision making.  A sophisticated, intensive analysis may all be…

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The Financial Times reviewed my book, Predictive Analytics: The Power to Predict Who Will Click, Buy, Lie, or Die.

 

Click here to read the full Financial Times review (free membership required).

 

Excerpt from the book review:

Book…

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Here is a crisp info graphic which communicates the top 5 data products which can be $ denting in the Airline industry

http://blog.fluturasolutions.com/2013/06/which-data-products-can-make-dent-in.html

1. Property reccomender

2. Word of mouth modeler

3, Funnel friction Spotter

4. Traveller churn scorer

5. Sentiment Analyzer

Seven Questions on Adopting Analytics Culture

Seven questions are posed and are addressed in serial.  The theme: ‘how can organizations adopt analytics-based decision making culture?’  

In particular, the questions address the use of change management to adopt evidence-based decision making, associated organizational challenges, and how analytics can be used to manage organizational change itself:…

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Business analytics model risk (part 0 of 5): framing model risk - the complexity genie and the challenge of deciding on decision models

Introduction to a series of five articles on model risk

Here we introduce a series of five articles seeking to frame, define, and categorize business analytics model risk.  The intention is to propose processes and practices for strengthening organizational decision model risk mitigation. The series of five…

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Read the Preface for Siegel’s Book – Predictive Analytics

Here is the preface for Predictive Analytics: The Power to Predict Who Will Click, Buy, Lie, or Die

By Eric Siegel, with a foreword from Tom Davenport

(Wiley, February 2013)

 

To order the book:…

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CEOs often talk about the need to use data while taking key decisions. But Marketers still seem to operate more from the gut. Why is that?



Thomas Wailgum in News captures the reasons why the gut still reigns supreme. Here is what he says: “So why is the gut still so in vogue? Of those respondents who said their companies still make decisions based on judgment rather than business analytics, 61 percent said it was because good data was not available, and just over half (55 percent)… Continue