Business analytics provides essential information to understand a business's position compared to competitors, inform decision making, and identify strengths and weaknesses. It involves collecting and analyzing data through an analytics lifecycle including identifying problems, preparing and exploring data, building and validating models, deploying models, and evaluating results. Current trends include using innovative techniques to solve complex problems, applying existing methods to new issues, and combining methods from multiple disciplines for targeted solutions.

1. BUSINESS ANALYTICS

2. INTRODUCTION
Business Analytics and Optimization capabilities connect
people with trusted, relevant information, enabling them
to confidently predict, plan and act
Business Analytics and
Optimization
Technology and
Market Drivers
Optimized Outcomes

3. PURPOSE FOR BUSINESS ANALYTICS
– Identify where the business stands
in relation to rivals, etc.
– Collect and use data to inform business decision
making
– Identify strengths and weaknesses
in the business
– Use information to inform strategic planning

4. IDENTIFY /
FORMULATE
PROBLEM
DATA
PREPARATION
DATA
EXPLORATIO
N
TRANSFORM
& SELECT
BUILD
MODEL
VALIDATE
MODEL
DEPLOY
MODEL
EVALUATE /
MONITOR
RESULTSDomain Expert
Makes Decisions
Evaluates Processes and ROI
BUSINESS
MANAGER
Model Validation
Model Deployment
Model Monitoring
Data Preparation
IT / SYSTEMS
MANAGEMENT
Data Exploration
Data Visualization
Report Creation
BUSINESS
ANALYST
Exploratory Analysis
Descriptive Segmentation
Predictive Modeling
DATA MINER /
STATISTICIAN
THE ANALYTICS LIFECYCLE

5. Complex Business Problems Drive Analytics Innovation
• Ongoing research to ensure that analysts have access to modern
techniques which are robust and scalable
• Innovative computational implementations of existing analytical
methods
• Creative applications of existing methods to solve new and
different problems
• Integration of methods from multiple disciplines to provide
targeted solutions
CURRENT TRENDS IN ANALYTICS

6. Evaluating Analytic Projects
Analytic Approach and Methodology
Assessment Gap Analysis
Recommendation
and
Development
Ongoing
Support
 Understand the
vision, business
objectives, and
priorities of the
executive team
 Assess the current
environment and
capabilities, including
infrastructure,
people, process, and
culture, using the
information
evolution model
 Analyze desired
capabilities
versus current
capabilities
 Conduct a gap
analysis
between desired
and current
capabilities in
each of the four
organizational
dimensions
 Identify starting
points
 Develop detailed
recommendations,
initiatives, and a
roadmap to
achieve the
desired capabilities
 Identify potential
analytics Center of
Excellence role
 Develop Center of
Excellence details
 Support business
unit in the
implementation
and operation
phase
 Monitor and
make
adjustments if
necessary
 Provide
enterprise best
practices and
lessons learned