Recommendation Rating: ★★★☆☆
This book has a lot of information all in one place, and it’s great to flip through. Here are some things I found interesting.
Business Analytics
When we talk about analytics, it means we aim to understand the current situation, anticipate what might happen, and determine the actions we can take.
| Dimension | Descriptive | Predictive | Prescriptive |
|---|---|---|---|
| Questions | What Happened? | What will happen? | What should I do? |
| - | What is happening? | why will it happen? | Why should I do it? |
| Enablers | Business reporting | Data mining | Optimization |
| - | Dashboards | Text mining | Simulation |
| - | Scorecards | Web/media mining | Decision modeling |
| - | Data warehousing | Forecasting | Expert systems |
| Outcomes | Well-defined business problems and opportunities | Accurate projections of furture events and outcomes | Best possible business decisions and actions |