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:: analytics is a journey
:: the analytics journey has three stages
:: each stage of the journey involves data
is data about the past
:: analytics stage one
:: at best it’s data about the present
:: analytics stage one is reporting
:: and traditional business intelligence
Analytics Stages of Maturityin
form
atio
n va
lue
insight
ReportingData Access
what happened?what is happening?
http://alfredessa.com
STAGE ONE
! KEY
:: analytics stage one provides retrospective data
is data about the future
:: analytics stage two
:: it provides our predicted future, where we are going
:: stage two uses techniques such as predictive modeling
:: and inferential statistics to forecast risk
Analytics Stages of Maturityin
form
atio
n va
lue
insight
ReportingData Access
what happened?what is happening?
Risk Forecasting
PredictiveModeling
what will happen?
http://alfredessa.com
STAGE TWOSTAGE ONE
! KEY
:: analytics stage two predicts the future
is data about the desired future
:: analytics stage three
:: analytics stage three is the holy grail
:: it’s optimization
:: optimization means finding the best path among multiple options
Analytics Stages of Maturityin
form
atio
n va
lue
insight
ReportingData Access
what happened?what is happening?
Optimization
Strategy
what do i want to happen?
Risk Forecasting
PredictiveModeling
what will happen?
http://alfredessa.com
STAGE TWO
STAGE ONE
STAGE THREE
let’s end with a definition
:: analytics is not more data!
definition
:: analytics is finding the optimal path to a desired future
alternate definition
:: analytics is optimizing decision making in situations of uncertainty
