Business Analytics for Managers: Taking Business Intelligence Beyond Reporting (Wiley and SAS Business Series) by Gert H. N. Laursen & Jesper Thorlund

Author:Gert H. N. Laursen & Jesper Thorlund [Laursen, Gert H. N.]
Language: eng
Format: mobi
ISBN: 9781119302537
Publisher: Wiley
Published: 2016-10-05T16:00:00+00:00

Data‐driven analytics are typically preferred for tasks that are complex for different reasons, where customer information is an example of data that constantly changes, or where there are large amounts of data and limited initial knowledge about correlations in the data material. This often creates a situation where analysts within a company are drowning in data, while the rest of the organization is thirsting for information and knowledge since the analysts' speed of analysis simply cannot keep up with need for knowledge based on ever‐changing near‐real‐time data. Business environments increasingly find themselves in situations in which enormous amounts of customer information are accumulated, but they are finding it difficult to unlock this information in a way that adds value.

A classic example could be a campaign that has been prepared and sent to all customers. Some customers have accepted the offer, and others haven't. The questions now are:

What can we learn from the campaign, and how can we make sure that the next campaign offers something that the rest of our customers will be interested in?

We've got mountains of customer information lying about, but what part of this information contains the business‐critical knowledge that can teach us to send relevant campaigns to relevant customers?

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