individual-entry-BA-Blog

« Harnessing the Power of Enterprise Decision Management To Drive Retail Growth | Main | Business Rules and SDLC - some questions »

A word about analytics

I was wandering around our R&D facility yesterday and saw a great sign

Analytics simplify data to amplify its value

Now I have no idea if this is original or a well-known analytic quote. Regardless, I think it is very relevant:

  • Most business users would say they want usable, actionable information not just data
    • Analytics amplifies value by replacing large amounts of data with a statement encapsulating what that data implies
  • Better data adds no value. Better decisions thanks to better data do.
    • Analytics turn data into a prediction that helps make better decisions
  • Front-line staff and self-service websites can't analyze data during a transaction
    • Analytics use the data to drive a better response

And so on. It was just such a great phrase I had to end the week with it.

First time on the EDM blog?
Subscribe to the EDM blog feed or check out some other recent posts:

TrackBack

TrackBack URL for this entry:
http://www.typepad.com/services/trackback/6a00d83451629b69e200d8357801a869e2

Listed below are links to weblogs that reference A word about analytics:

Comments

The comments to this entry are closed.

Search Site


  • dmblog.fico.com

Subscribe

  • enter your email

Upcoming Events

  • FICO Tools & Analytics User Forum 2012
    BERLIN: September 11-12, 2012 LONDON: September 18-19, 2012 Gain new insights for improving business performance through advanced analytics and decision management tools.