Analytics Methods

Rahul Saxena () and Anand Srinivasan ()

Chapter Chapter 11 in Business Analytics, 2013, pp 133-139 from Springer

Abstract: Abstract Analytics comes from people—someone (or some team) conceives an idea, frames it, makes a model, gets the data needed to make it work, fiddles with the model until the results look useful, uses it to make decisions gets the decisions, drives implementation, and measures the results. Analytics provides fertile soil for ideas, and decision models are ideas—sometimes hugely influential ideas. The model has to be relevant (define and solve a decision need) as well as scientific (able to produce an answer or a set of answers that can be tested). We assert that unless the decision making method addresses all six analytics functions, it will not yield optimal results.

Keywords: Decision Need; Organizational Value Management; Decision Frame; Assessing Test Results; Combining Data Flow (search for similar items in EconPapers)
Date: 2013
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DOI: 10.1007/978-1-4614-6080-0_11

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