Applying Analytics to Find the Business in Your Data
Data quantities and the number of sources it comes from are on an upward trajectory – and we don’t see this course changing.
Combatting Data Puddles
Since the dawn of analytics organizations have struggled…
Data Visualization and the U.S. House - A New Approach #4
As I suggested in the last post, let’s try using a table instead of a graph to see how House of Representatives election results correlate with the incumbent president’s party
Analytics – Easy as One, Two, Tree
Insights from decision trees and other basic analytic techniques show that you don’t always need complex analytics to solve business problems and add value. This was the message from Dr. James (Jim) Foster, Director of Research and Process Development, Archer Daniels Midland (ADM), at last month’s inaugural IE Group ‘Manufacturing Analytics Summit’ in Chicago, which I had the great privilege to chair for both days.
Paralysis from Business Information Overload
Our brains are made up of special cells called nerve cells. A nerve cell has a bulb-like cell body attached to a long nerve fiber, which is like a wire, and it actually carries very tiny electrical signals. These signals are the information that tell us what we feel, what we think, what we see, what we touch. They also tell our bodies how to move and how to function. All this information is carried by nerve fibers to and from our brains. There is so much activity going on as we process, think, reflect and analyze information. Everything we see, smell, hear, taste and feel is collected and processed to navigate us through our lives. Our world is a virtual database that feeds our brain and is analyzed by our very own intelligence.
Analysts can be Big Data Pioneers
Analysts today have a vested interest in the quality of their data. This would include where it comes from, its historical completeness and information clarity. In some organizations, blaming IT is no longer acceptable when the analyst is unable to do her job. Many analysts are involved in setting the precedents for the future of big data initiatives due to their responsibility to support the decision-making process.
We Still Believe That Business Intelligence Gives Amazing Vision Instantly.
Let’s apply the x-ray vision concept to data analysis. Possessing the ability to see through the layers of data would be amazing! Imagine having “Green” colored glasses that allows the user to quickly see through data. Yes that is it, Business Intelligence “X-Ray” vision glasses! Today this technology is not available yet, (although Google Glasses is getting pretty close), but the amazing visualization does exist which allows the end-user quick access to pertinent data.
Making Certain You Get the Most from Deployments
It has been said that it is very difficult to determine ROI for Business Intelligence software. In a blog entry on B-Eye-Network by Wayne Eckerson, How to Measure BI Success, he mentions many types of measurements. It is always important to measure the performance of your Business Intelligence software to make sure that there is continuous value. What about those organizations who avoid a BI software purchase due to cost concerns and the expectation that the software will not fulfill its promises.
Why not try before you buy?
Is ‘Big Data’ Real, or Jargon?
Big data is a collection of data sets so large and complex that it becomes difficult to process using traditional database management applications. By this definition it appears that big data only reflects those in business and IT, but that is not the case.
Is Your Finance Organization a Top Performer?
According to a recent survey by industry research and benchmarking firm, APQC, top performers’ cost of finance is almost three times lower than bottom performers.
View key benchmarks and findings below.