© 2014 NUS. All rights reserved.
Dr. Barry Shepherd
Senior Member, Business Analytics Practice
Institute of Systems Scienc...
© 2014 NUS. All rights reserved.
What is Business Analytics?
The process of extracting useful
knowledge from data to solve...
© 2014 NUS. All rights reserved.
What is Business Analytics?
© 2014 NUS. All rights reserved.
What is Business Analytics?
• Statistical Analysis
• Predictive Modeling
• Association Fi...
© 2014 NUS. All rights reserved.
How do we “do” Business Analytics?
• I have lots of data, it must be useful, go find me s...
© 2014 NUS. All rights reserved.
Business Analytics Practice
© 2014 NUS. All rights reserved.
© 2014 NUS. All rights reserved.
Discovery: Find me some Insights!
What is an insight?
© 2014 NUS. All rights reserved.
Finding Insights
• Insights must be useful
and actionable
• Insights often happen
when yo...
© 2014 NUS. All rights reserved.
Finding Insights
10
Starting
Hypothesis &
Questions
Verify, Evaluate, Test,
Explore, Visu...
© 2014 NUS. All rights reserved.
Business Analytics Pitfalls
• Remember to get off!
• Have a clear exit criterion
• Avoid ...
© 2014 NUS. All rights reserved.
Business Analytics Pitfalls
• What data do you have?
• What data do you need?
• What data...
© 2014 NUS. All rights reserved.
Institute of Systems Science,
National University of Singapore
Mission: To Inspire and pr...
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NUS-ISS Business Analytics Practice, by Dr Barry Shepherd

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  • Discover something?Explore, Visualise, Interpret
  • Discover something?Explore, Visualise, InterpretHow well does this processmodel work in practice?Does it cover all situations well? Does discovery of insights really fit?What are the hang-ups , bottlenecksWhen to stop?
  • Discovery versus roll-out, one leads to the otherAutomation versus complex analytics McKinnsey
  • E.g. brainstorming: what is the impact of increasing COE or ERP charges, #Taxis, regulating taxi shift changing times etc
  • NUS-ISS Business Analytics Practice, by Dr Barry Shepherd

    1. 1. © 2014 NUS. All rights reserved. Dr. Barry Shepherd Senior Member, Business Analytics Practice Institute of Systems Science, National University of Singapore barryshepherd@nus.edu.sg Business Analytics Practice How do we “do” Business Analytics?
    2. 2. © 2014 NUS. All rights reserved. What is Business Analytics? The process of extracting useful knowledge from data to solve business problems
    3. 3. © 2014 NUS. All rights reserved. What is Business Analytics?
    4. 4. © 2014 NUS. All rights reserved. What is Business Analytics? • Statistical Analysis • Predictive Modeling • Association Finding • Link analysis • Data Visualisation • Graph/Network Analysis • Sequence Finding • Data Clustering • Outlier Detection • Text Mining • Many more…. • Customer Segmentation & Profiling • Customer Acquisition & Retention • Campaign & Promotion Analysis • Measure Sales Force Effectiveness • Spend Analysis • Market Basket Analysis • Demand Forecasting • Warehouse Planning • Inventory Management • Logistics Optimisation • Healthcare Management & Optimisation • Analysis of Clinical trials • Fraud Detection • Market & Credit Risk Analysis • Many more…. The process of using techniques such as…. To perform tasks such as…. In domains such as…
    5. 5. © 2014 NUS. All rights reserved. How do we “do” Business Analytics? • I have lots of data, it must be useful, go find me some insights • Let’s build a big data warehouse then see what we can do with it • We have just bought XYX tool/algorithm, go use it Start with a business problem! Understand what data is available, needed, could be useful Identify an analytics approach/strategy X X
    6. 6. © 2014 NUS. All rights reserved. Business Analytics Practice
    7. 7. © 2014 NUS. All rights reserved.
    8. 8. © 2014 NUS. All rights reserved. Discovery: Find me some Insights! What is an insight?
    9. 9. © 2014 NUS. All rights reserved. Finding Insights • Insights must be useful and actionable • Insights often happen when you are looking for something else
    10. 10. © 2014 NUS. All rights reserved. Finding Insights 10 Starting Hypothesis & Questions Verify, Evaluate, Test, Explore, Visualise New avenues to explore, Serendipitous insights • Where do you think your inefficiencies are? • What feedback are you getting from customers? • Is the Pareto principle at work? (the 80/20 rule) • What caused the anomalies, outliers? New/Amended Hypothesis Start with some hypotheses, questions to answer…..
    11. 11. © 2014 NUS. All rights reserved. Business Analytics Pitfalls • Remember to get off! • Have a clear exit criterion • Avoid perfectionism • Do a quick first-cut solution as a ball-park measure of success
    12. 12. © 2014 NUS. All rights reserved. Business Analytics Pitfalls • What data do you have? • What data do you need? • What data could be useful? Success is more often achieved by getting better data rather than tweaking an algorithm 12
    13. 13. © 2014 NUS. All rights reserved. Institute of Systems Science, National University of Singapore Mission: To Inspire and prepare Infocomm leaders to innovate over the course of their professional careers • IT graduate education, • Professional development courses • Consultancy …

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