Decision Management and Analytics 3.0

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?

Big Data Déjà Vu

Anne Milley

More than a decade ago when data mining was relatively new (remember the commercial with fashion models talking about mining their data on the runway?), many were advocating mining all of the (mostly transactional) data and had to be educated…

U.S. Gov. Bets Big on Linguistic Analytics

Will the next 007 be schooled in analytics? Perhaps. The U.S. government is reportedly making a nine-figure investment to better understand how language shapes worldviews with the goal of improving its ability to glean intelligence from non-English speakers. It’s known as IARPA: Intelligence Advanced Research Projects Activity. In an article on The Atlantic‘s web site, [...]

The New Quantitative Era: Creating Successful Business Change with Analytics

Tom Davenport kicked off the second day of Predictive Analytics World with a keynote on the new era of quantitative, or data-driven business. Various analytic threads – web analytics, HR analytics, actuarial, predictive marketing and supply chain – are coming together in really what is best described as Enterprise analytics. The world is changing and [...]

VT Court Strikes Down Anti-Data Mining Law

Justice is served

A recent court decision may have wide-reaching implications for analytics and data mining. In 2007, Vermont enacted a law that prohibited prescription drug data aggregators from selling their information to drug manufacturers for marketing purposes. According to the Courthouse News Service: Pharmacies collect information about the prescriptions they fill, including prescribing doctor’s name and address; [...]

Elements of Business Analytics

My friends at SAS, a sponsor of IIA, have a nice piece on their Knowledge Exchange – Elements of a Business Analytics Framework for IT. This lays out their view on the different kinds of decision types and maps them to decision frequency. Both in Smart (Enough) Systems and in my blog posts (like this [...]

Office Hours: Data Mining with Quantitative and Qualitative Data

John Elder will lead our next Office Hours call on Wednesday, September 1 from 2-3 pm EST. John will outline the value and methods involved in data mining across both quantitative and qualitative data. In particular, John will describe the data transformations necessary before doing such work, and the tools that are particularly valuable for [...]

Analytics and Antagonistic Aspirations

Face with Fingers

I’ve been thinking about the ongoing Facebook privacy kerfuffle and have concluded that it comes down to what I term “antagonistic aspirations.” Facebook, like many social media sites, wants to be a place where members share unabashedly — you feel safe, connected, and free to be yourself. They also want to be the ultimate data mine [...]