Good Day All,
I hope everyone had an enjoyable Thanksgiving holiday. Just read this article about bringing analytics to life. I like learning about Big Data, the whole topic speaks to me. In another life I’d probably would’ve gotten an Informational Decisions Science (IDS) degree. Masamvu discuses how organizations need to move away from descriptive analytics (i.e. what happened) to predictive analytics (i.e. what will happen). But the key is that we need to focus on creating actionable results where we can have an effect on what will happen. Masamvu breaks this into three bullet points
- Understand the purpose of the initiative. In other words, why are you performing the analytics?
- Ensure they have the right expertise and resources in place, understanding who is going to do it and how much it will cost.
- Have a clear business case and road map for action from the insights.
Do you use Big Data insights in your organization? How are these used in CRE? Leave your thoughts in the comments.
–Derek
5 Steps to Bringing Analytics to Life via CGMA Magazine