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?

The Need for “Analytical Service Lines”

Last week I spoke for IIA at Predictive Analytics World. Whereas I often speak to executives who aren’t yet persuaded of the virtues of analytics, at this gathering—which also included attendees of the Marketing Optimization Summit and Text Analytics World—that wasn’t the problem. I was preaching to the converted, who already undertake a wide variety [...]

Analytics Conferences Gone Wild!

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As a result of the attention business analytics has received in recent years, we’re seeing a proliferation of conferences tied to analytics. It seems like everywhere one turns, one finds another analytics conference. In addition to totally new shows, there are also some conferences that weren’t historically focused on business analytics that are now shifting [...]

Decision Management, Big Data and McKinsey

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 [...]

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 [...]

PUPD and Optimizing Your Analytics

The PUPD framework can help you understand where to take action and where to invest to optimize your analytics initiatives.

Are Your Analytics Fast Enough?

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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 [...]

Agile AND Industrial Analytics

I wrote a post called “It’s time to industrialize analytics” for Smart Data Collective a little while ago and it prompted Tom to reply with Agile vs Industrialized. To recap, the key point of my post was that we need to move away from analytics as a pure craft to one that has a more [...]

Do Loyalty Programs Really Engender Loyalty?

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I recently made a trip to London that got me thinking about loyalty programs. I stopped into Tesco, a leading food retailer, to pick up a few things and was reminded of an analytics program I helped host a couple of years back that featured a speaker from Dunhumby, the firm that works with Tesco [...]

I Spy Analytics

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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 [...]

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