Smart organizations build smart humans into their analytical processes from the beginning, in key functions and business units. They work closely with senior executives to explain analytical results, pose new questions of the data, and be present at meetings where analytics and data are discussed.
IIA is talking about analytics entering a new era, Analytics 3.0, The Era of Impact. What is Analytics 3.0?
According to IIA, Analytics 3.0 marks the stage of maturity where leading organizations realize measurable business impact from the combination of traditional analytics and big data. High-performing companies will embed analytics directly in decision and operational processes, and take advantage of machine-learning and other technologies to generate insights in the “millions per second” rather than an “insight a week or month.” Given this definition of Analytics 3.0, what is the role of Decision Management and of Decision Management Systems?
A few weeks ago, I attended the Hadoop World show in New York to hear first-hand how organizations are making use of the new technology. In future postings, I may address what claims I thought entered the hype zone and what value propositions seemed weak. However, I want to focus here on three specific cases [...]
Cross posted at JTonEDM McKinsey just published a new study “Big Data: the next frontier for innovation, competition and productivity” that is definitely worth reading. With lots of detail – it runs to more than 150 pages – it discusses why there is so much more data, what that means and how this data can [...]
Tom pointed me to an interesting article recently – Judgment Call or Automated Decision—Or Both? – by Jan Abrams. It’s an interesting article and I go back and forth as I read it in terms of agreeing or disagreeing with Jan. First, let me say that the use of automated decisioning systems and credit scores [...]
There’s an interesting new study out from Aberdeen Group, a division of Harte-Hanks (free registration required), Predictive Analytics: Driving Sales with Customer Insights. Among the findings are: – 27% of respondents need to refresh their predictive models yet only 60% of those can actually do so. There’s a speed gap that may hobble the effectiveness [...]
One of the most astounding developments in analytics over the past several decades is the rise of analytical professional services. Until a couple of years ago, organizations wanting to build and execute analytical applications were largely on their own. Now they’ve got plenty of help. The availability of consultants and integrators with quantitative skills, business [...]
In an earlier post on loyalty I mentioned the challenge of a pocket full of loyalty cards: a literal pain in the butt from an aching sciatic nerve resulting from an over-stuffed wallet. But of course, there’s an app for that. Actually there are two and they are both free. CardStar (Android, Apple, and Blackberry) [...]
The recent revelation that both Google and the CIA have invested in Cambridge, MA-based Recorded Future has had some in the blogosphere wondering what it means to have the firm that espouses that it wants to do no evil sitting side-by-side with the Secret Squirrels from Langley. Noel Schachtman at Wired first brought this forward [...]