four types of analytics
The Five Types Of Analytics
Michael Corcoran
Sr Vice President &CMO
1
Session Agenda
Why business analytics?
Review the different types of analytics & common misconceptions Review the delivery methods for the operational users
Propose holistic approach to expand enterprise analytics Value of integration and data quality to analytics
Discussion
2
Analytic Quiz
What do beer and business analytics have in common?
In 1900 W.S. Gossett, an analyst at
Guinness invented a distribution to analyze production processes and employment problems.
Guinness decided to keep it a trade secret. He published it under the pseudonym
Student. Hence the name of this popular analytic method became
Student’s t-test.
Analytic Quiz
Who made a killing by applying it on a massive scale?
4
Four Types of Analytics
Information, Analysis And Decisions:
The Basics
Diagnostic
Analytics
Analysis
Why Did it
Happen?
Predictive
Analytics
What is Likely
To Happen?
Descriptive
Analytics
Prescriptive
Analytics
What Should I
Do About It?
What is
Happening?
Information
Analytic Excellence Leads to Better Decisions
5
Information Builders’ View
The Five Types of Analytics
Prescriptive
Skills Levels
Predictive
Discovery
Diagnostic
Descriptive
Value
6
The Five Types of Analytics
It is not about more data! It is about deeper look!
100%
Core Analytics
13%
Advanced Analytics
The Five Types of Analytics
Descriptive: What Happened?
8
The Five Types of Analytics
Descriptive: What Happened?
Too many reports in the enterprise Too many ad hoc requests to analysts and IT
Why?
Once you see, you crave understanding What? leads to Why?
Static reports are the primary cause for this.
9
Descriptive Needs To Merge With Diagnostic
Information on Demand with Greater Interacttivity
10
The Five Types of Analytics
Diagnostic: Why did it happen?
11
The Five Types of Analytics
Diagnostic: Why did it happen?
Getting to the root cause with OLAP
12
The Five Types of Analytics
Michael Corcoran
Sr Vice President &CMO
1
Session Agenda
Why business analytics?
Review the different types of analytics & common misconceptions Review the delivery methods for the operational users
Propose holistic approach to expand enterprise analytics Value of integration and data quality to analytics
Discussion
2
Analytic Quiz
What do beer and business analytics have in common?
In 1900 W.S. Gossett, an analyst at
Guinness invented a distribution to analyze production processes and employment problems.
Guinness decided to keep it a trade secret. He published it under the pseudonym
Student. Hence the name of this popular analytic method became
Student’s t-test.
Analytic Quiz
Who made a killing by applying it on a massive scale?
4
Four Types of Analytics
Information, Analysis And Decisions:
The Basics
Diagnostic
Analytics
Analysis
Why Did it
Happen?
Predictive
Analytics
What is Likely
To Happen?
Descriptive
Analytics
Prescriptive
Analytics
What Should I
Do About It?
What is
Happening?
Information
Analytic Excellence Leads to Better Decisions
5
Information Builders’ View
The Five Types of Analytics
Prescriptive
Skills Levels
Predictive
Discovery
Diagnostic
Descriptive
Value
6
The Five Types of Analytics
It is not about more data! It is about deeper look!
100%
Core Analytics
13%
Advanced Analytics
The Five Types of Analytics
Descriptive: What Happened?
8
The Five Types of Analytics
Descriptive: What Happened?
Too many reports in the enterprise Too many ad hoc requests to analysts and IT
Why?
Once you see, you crave understanding What? leads to Why?
Static reports are the primary cause for this.
9
Descriptive Needs To Merge With Diagnostic
Information on Demand with Greater Interacttivity
10
The Five Types of Analytics
Diagnostic: Why did it happen?
11
The Five Types of Analytics
Diagnostic: Why did it happen?
Getting to the root cause with OLAP
12
The Five Types of Analytics