Analytics Teams: 6 Questions To Ask Your Business Partner Before You Model

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Get the business understanding right! Analytics Teams know that one of their biggest challenges is effective communication and collaboration with their business partners. Projects are plagued with too many iterations to get to a solution, too many detours responding to unfocused requests, and too often the final model results in a positive analytic result that can’t demonstrate business value.

What can you do? Analytics and decision modeling expert James Taylor of Decision Management Solutions outlines six questions to ask your business partner before you start modeling and shows you why decision modeling is the best approach to building this shared understanding.

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Analytics Teams: 6 Questions To Ask Your Business Partner Before You Model

  1. 1. @jamet123 #decisionmgt © 2016 Decision Management Solutions James Taylor CEO Analytics Teams: 6 Questions to Ask Your Business Partner Before You Model
  2. 2. @jamet123 #decisionmgt © 2016 Decision Management Solutions 2 James Taylor Decision Management Solutions ▶ We work with clients to improve their business by applying business rules & analytic technology to automate & improve decisions. ▶ Vendor-neutral ▶ Original DMN submitter ▶ Using decision modeling since 2011 ▶ I have spent the last 14 years focused on the development of analytic applications using Decision Management
  3. 3. @jamet123 #decisionmgt © 2016 Decision Management Solutions 3 Agenda ▶ Analytic Challenges ▶ Six Questions Frame the Problem ▶ Decision Modeling for Analytics ▶ Decision Models Answer The Six Questions ▶ Wrap Up
  4. 4. @jamet123 #decisionmgt © 2016 Decision Management Solutions 4 Challenges For Analytics Teams
  5. 5. @jamet123 #decisionmgt © 2016 Decision Management Solutions 5 Data Science Insights Business Value There Is A Dangerous Gap In Data Science
  6. 6. @jamet123 #decisionmgt © 2016 Decision Management Solutions 6 Closing The Gap Delivers Analytic Success Data Science Insights Business Value Frame The Problem Build The Model Plan For Operationalization
  7. 7. @jamet123 #decisionmgt © 2016 Decision Management Solutions 7 Challenges Framing Analytics Problems Too many iterations Business Poor collaboration with business and IT partners Business value not the focus Too many distractions
  8. 8. @jamet123 #decisionmgt © 2016 Decision Management Solutions 8 Multiple Perspectives Required Business
  9. 9. @jamet123 #decisionmgt © 2016 Decision Management Solutions 9 The Telephone Game ▶ Decision Makers ask for data or an analytic ▶ But this does not help them make the decision ▶ So they ask for more or different data ▶ But that doesn’t help either ▶ So they ask for a different view of the data ▶ … ▶ Until they get fed up and do something in Excel!
  10. 10. @jamet123 #decisionmgt © 2016 Decision Management Solutions 10 Too Many Distractions New technology New data New targets
  11. 11. @jamet123 #decisionmgt © 2016 Decision Management Solutions 11 Demonstrating Business Value ▶ Too many projects focus on analytic accuracy ▶ Need to focus on business value ▶ Teams must connect their analytic to this value
  12. 12. @jamet123 #decisionmgt © 2016 Decision Management Solutions 12 Six Questions To Frame The Problem 1. How will we measure success? 2. What decisions does the organization make that have an impact on this measure? 3. What question has to be answered to make a decision? 4. Who makes these decisions and when? 5. Which decision(s) are we going to change? 6. What are the side effects of changing these decisions?
  13. 13. @jamet123 #decisionmgt © 2016 Decision Management Solutions 13 Decision Modeling for Analytics
  14. 14. @jamet123 #decisionmgt © 2016 Decision Management Solutions 14 Decision Modeling Frames Analytics ▶ Provides “structure” - who, what, how, when ▶ Standardizes approach to decision making ▶ Provides “transparency” of decision approach ▶ Fosters innovation in the business model ▶ Improves/changes the business model ▶ Promotes “buy in”
  15. 15. @jamet123 #decisionmgt © 2016 Decision Management Solutions 15 Decision Models Frame The Problem Decision Input Data Knowledge Sources Sub- decisions Analytic Source: DecisionsFirst Modeler @jamet123 #decisionmgt
  16. 16. @jamet123 #decisionmgt © 2016 Decision Management Solutions 16 Decision Models Put Analytics In Context Process Decision Motivation Organization Department Team Role Role Team Department Organization Analytic
  17. 17. @jamet123 #decisionmgt © 2016 Decision Management Solutions 17 Decision Models Answer The Six Questions
  18. 18. @jamet123 #decisionmgt © 2016 Decision Management Solutions 18 Six Questions To Frame The Problem 1. How will we measure success? 2. What decisions does the organization make that have an impact on this measure? 3. What question has to be answered to make a decision? 4. Who makes these decisions and when? 5. Which decision(s) are we going to change? 6. What are the side effects of changing these decisions?
  19. 19. @jamet123 #decisionmgt © 2016 Decision Management Solutions 19 1. How will we measure success? ▶ Objectives of the sponsors ▶ Measures of success ▶ For instance ▶ Reduce claims in litigation ▶ Improve the loss ratio ▶ Objectives of the modelers ▶ Measures of accuracy ▶ For instance ▶ Error rate ▶ Lift Business Measures Not Analytic Ones
  20. 20. @jamet123 #decisionmgt © 2016 Decision Management Solutions 20 2. What decisions have an impact on this? ▶ Value of data science comes from improved decisions ▶ Any data science project must influence decisions to add value
  21. 21. @jamet123 #decisionmgt © 2016 Decision Management Solutions 21 Decision Models Show How To Get The Impact You Want Improve Cross-Sell
  22. 22. @jamet123 #decisionmgt © 2016 Decision Management Solutions 22 3. What’s the question? ▶ Every Decision in the model has a specific question ▶ What exactly is being decided? ▶ What are the possible answers? ▶ What needs to be known to answer the question? ▶ Data ▶ Answers to other questions ▶ Repeat
  23. 23. @jamet123 #decisionmgt © 2016 Decision Management Solutions 23 4. Who makes these decisions and when? ▶ Who has to approve the analytics? ▶ Who has to believe the analytics? ▶ Who should be kept informed as the analytic changes? ▶ Whoever owns the decision ▶ Those that make the decision ▶ People who care about the decision
  24. 24. @jamet123 #decisionmgt © 2016 Decision Management Solutions 24 See Who Needs To Be Involved or Informed Risk Management Retail Operations Insurance Operations Customer Service
  25. 25. @jamet123 #decisionmgt © 2016 Decision Management Solutions 25 5. Which Decision(s) Will Change Overall Decision
  26. 26. @jamet123 #decisionmgt © 2016 Decision Management Solutions 26 Find The Analytics That Work ▶ Ask If Only… ▶ If only we knew if this customer is unhappy ▶ If only we knew if this piece of equipment was going to fail soon ▶ If only we knew where we were most likely to get a delivery this afternoon ▶ If only we knew if this provider was ripping us off ▶ …
  27. 27. @jamet123 #decisionmgt © 2016 Decision Management Solutions 27 6. What are the side effects? Loan Repayment Insurance Revenue Customer Satisfaction
  28. 28. @jamet123 #decisionmgt © 2016 Decision Management Solutions 28 Six Questions To Frame The Problem 1. How will we measure success? 2. What decisions does the organization make that have an impact on this measure? 3. What question has to be answered to make a decision? 4. Who makes these decisions and when? 5. Which decision(s) are we going to change? 6. What are the side effects of changing these decisions? ▶ Decision models link analytics to decisions to business metrics ▶ Decisions are defined with questions and allowed answers ▶ Decision models show who owns, makes and cares about decisions ▶ Decision models show the specific structure of a decision ▶ Decision models reveal impact of changes and analytics
  29. 29. @jamet123 #decisionmgt © 2016 Decision Management Solutions 29 Getting Started
  30. 30. @jamet123 #decisionmgt © 2016 Decision Management Solutions 30 Decision Most Analytic Projects Leave Decisions In The Dark Modeling Decisions Brings Transparency 30©2015 Decision Management Solutions
  31. 31. @jamet123 #decisionmgt © 2016 Decision Management Solutions 31 Data Business Understanding Data Understanding Modeling Data Preparation Evaluation Deployment CRISP-DM Phases 1. Business Understanding 2. Data Understanding 3. Data Preparation 4. Modeling 5. Evaluation 6. Deployment
  32. 32. @jamet123 #decisionmgt © 2016 Decision Management Solutions 32 Specific Analytic Decision Analytic Models Overall decision to be improved Business Understanding As a Decision Model Regulations and Policies Data
  33. 33. @jamet123 #decisionmgt © 2016 Decision Management Solutions 33 Decision Modeling For Analytic Projects ▶ Steps 1. Training in decision modeling 2. Establish business value 3. Model effective decision-making 4. Add process, organization, business context 5. Frame and scope the analytic project ▶ Deliverables ▶ Decision Model showing impact of proposed analytic ▶ Analytic, business and IT teams trained & self-sufficient ▶ Best practices and go-forward recommendations ▶ Software, consulting and training
  34. 34. @jamet123 #decisionmgt © 2016 Decision Management Solutions 34 Decision Modeling for Analytic Projects ▶ Learn more ▶ Download the six questions brief ▶ bit.ly/6QAnalytics ▶ Ready to start? ▶ Kick off a decision modeling project today ▶ bit.ly/DMNAnalytics
  35. 35. @jamet123 #decisionmgt © 2016 Decision Management Solutions 35 Questions?
  36. 36. @jamet123 #decisionmgt © 2016 Decision Management Solutions 36 Decision Modeling for Analytic Projects ▶ Learn more ▶ Download the six questions brief ▶ bit.ly/6QAnalytics ▶ Ready to start? ▶ Kick off a decision modeling project today ▶ bit.ly/DMNAnalytics
  37. 37. @jamet123 #decisionmgt © 2016 Decision Management Solutions 37 DecisionsFirst Modeler Collaborative, cloud-based decision modeling software that puts decisions at the heart of your business architecture, building better requirements and driving successful business rules implementations Key Features Multi-user, Collaborative Decision Model and Notation (DMN) Support Shared Database, Reusable components Automated Consistency and Completeness Checks Living Repository
  38. 38. Thank You @jamet123 #decisionmgt © 2016 Decision Management Solutions For more on Decision Management, go to: decisionmanagementsolutions.com James Taylor james@decisionmanagementsolutions.com

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