Analytics Areas of Opportunity
It seems that most organizations are already measuring and monitoring every business opportunity with a large number of measures and metrics – business analytics in a nutshell. Almost all measures and metrics are descriptive analytics that describe what has happened. The analytic opportunity to focus on here is value realization using inferential / predictive, real-time data stream, text, and other advanced analytic techniques.
Because advanced analytics & insight may be new to the organization, many analytic opportunities may be found. It will be important to identify those that have the greatest impact with the least risk.
When advanced analytics & insight is new to an organization, it is critical to perform advanced analytics planning to develop a successful and impactful implementation of this new capability.