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Understanding the business intelligence curve

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on 13 October 2016

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Transcript of Understanding the business intelligence curve

Descriptive Analytics
Helps you answer the question "what happened?"
Helps you answer the question "why did it happen?"
Helps you answer the question "what is likely to happen?"
Prescriptive Analytics
Helps you to answer the question "what should I do about it?"
Image by Tom Mooring
Understanding the Business Intelligence Curve
The practice of extracting information from existing data sets in order to determine patterns and predict future outcomes and trends
Predict which customers might leave?
Predict risk of insurance fraud?
Predict who will be good donars?
It can be used to identify risk in real time....
The analysis of data that helps describe, show or summarize data in a meaningful way
How many customers do I have?
Average customer spend?
% of customers satisfied?
Predictive Analytics
Diagnostic Analytics
More advanced technique
Greater competitive advantage
You are trying to reach conclusions that extend beyond the immediate data alone
What is 'driving' my customer satisfaction?
What type of product are 'favoured' by the under 20s?
Prescriptive analytics can suggest decision options for how to take advantage of a future opportunity
How should I prevent my customers leaving
What should I do to reduce the risk
Full transcript