There are so many opportunities to apply analytics today- it’s like being a mosquito in a nudist colony. I routinely see opportunities for analysis in my daily life. Perhaps I was born with the DNA to constantly collect data and evaluate for better outcomes. For example, which check-out line should I enter at the store? [...]
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 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 [...]
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 [...]
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 [...]
Tom Davenport was interviewed recently by the Sloan Business Review on Reengineering your decision making processes about analytics and how companies make decisions. While the interview is mostly focused on manual decision making, many of the points are just as valid when you consider decision management and decisioning technology as I do. Analytics, says Tom, [...]
The “Rolling Thunder Analytics Tour 2010” of Europe is over, and it was something of a blur. Eight cities in two weeks (counting Savannah, where I started week one). But despite my tiredness on the flight back home, it was a rich experience. I heard (and tried to respond to) perhaps a couple hundred questions [...]
The McKinsey Quarterly (free registration required) offers up an interesting on-line piece examining bias and the effects it can have on strategic decision making. According to the post: “In a recent McKinsey Quarterly survey of 2,207 executives, only 28 percent said that the quality of strategic decisions in their companies was generally good, 60 percent [...]
