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?

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 [...]

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 [...]

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