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BUSINESS ANALYTICS

Business Analytics focuses on developing new insights and understanding of business performance based on data and statistical methods. We make extensive use of statistical analysis (including explanatory and predictive modeling) and fact-based management to drive decision making.

Every business wants to do a great job, at a profit, and foster a repetitive business model.

Meeting this goal is the challenge.

Why Use Business Analytics?

Business Analytics focuses on developing new insights and understanding of business performance based on data and statistical methods. We make extensive use of statistical analysis (including explanatory and predictive modeling) and fact-based management to drive decision making.

We use analytics as input for human decisions or may drive fully automated decisions. In other words, querying, reporting, and alert tools can answer questions. These are used to gain insight and drive business planning — in short business analytics (BA).

Competing on Analytics


Thomas Davenport, professor of information technology and management at Babson College argues that businesses can optimize a distinct business capability via analytics and thus better compete. He identifies these characteristics of an organization that are apt to compete on analytics:

  • One or more senior executives who strongly advocate fact-based decision making and, specifically, analytics

  • Widespread use of not only descriptive statistics, but also predictive modeling and optimization techniques

  • Substantial use of analytics across multiple business functions or processes

  • Movement toward an enterprise level approach to managing analytical tools, data, and organizational skills and capabilities

TYPES OF ANALYTICS

DECISION

ANALYTICS

DESCRIPTIVE

ANALYTICS

Gains insight from historical data with reporting, scorecards, clustering etc.

PREDICTIVE

ANALYTICS

PRESCRIPTIVE

ANALYTICS

Supports human decisions with visual analytics that the user models to reflect reasoning.

Employs predictive modelling using statistical and machine learning techniques.

Recommends decisions using optimization, simulation, etc.

OUR ANALYTICS  PROCESS

INPUT

Querying, reporting, and alert tools can answer questions such as:

  • What happened?

  • How many?

  • How often?

  • Where is the problem?

  • What actions are needed?

ANALYTICS

Answer questions like:

  • Why is this happening?

  • What if these trends continue?

  • What will happen next [predict]?

  • What is the best that can happen [optimize]?

ACTIONS

  • Federal contract services

  • Skills

  • Technologies

  • Practices for continuous iterative exploration

  • Investigation of past business performance

Competing on Analytics

Thomas Davenport, professor of information technology and management at Babson College argues that businesses can optimize a distinct business capability via analytics and thus better compete. He identifies these characteristics of an organization that are apt to compete on analytics:
 

  • One or more senior executives who strongly advocate fact-based decision making and, specifically, analytics

  • Widespread use of not only descriptive statistics, but also predictive modeling and optimization techniques

  • Substantial use of analytics across multiple business functions or processes

  • Movement toward an enterprise level approach to managing analytical tools, data, and organizational skills and capabilities

 
Examples of Application


Banks, such as Capital ONE, use data analysis to differentiate among customers based on credit risk, usage and other characteristics and then to match customer characteristics with appropriate product offerings.

E & J Gallo Winery quantitatively analyses and predicts the appeal of its wines.

Between 2002 and 2005, Deere & Company saved more than $1 billion by employing a new analytical tool to better optimize inventory.

OUR SERVICES

FEDERAL CONTRACT SERVICES

SKILLS TRAINING

TECHNOLOGIES

Planning and implementation of new technologies

ITERATIVE EXPLORATION

PERFORMANCE INVESTIGATION

Investigation of past business performance

Practices for continuous, iterative exploration