Business Analytics Assignment Example | Topics and Well Written Essays - 500 words - 1

Business Analytics - Assignment Example - Data driven processes often create issues (noise) which are not relevant to the goals of the project. In this respect, logic-driven analytics processes will result in more clear and concise solutions. This depends on the project and the maturity of the audience/stakeholders. In an environment where the KPIs are not already established and the data is not well known, it might be appropriate to start with a logic driven process to focus the process on the most impactful issues. This keeps the noise to a minimum and keeps a project smaller in scope while not creating distractions. A data-driven approach can be added as a second step in this case. In a more sophisticated environment where basic KPIs are established, there is an opportunity to find the hidden levers in a process by using a data-driven process to provide deeper insight. Again, these choices are not universal and depend on the maturity of the audience and company, the quality, availability and knowledge of the data and the appetite of the organization for a complex project - The choice of an analytic model to use does indeed depend on many factors, including the nature of the project and the environment. It is worth noting that both logic driven and data driven models can co-exist and complement each other. In my opinion, a data driven approach is more suited to a situation where the data is not known, since a logic driven approach requires an intimate understanding and anticipation of the data before a model can be constructed. What would an effect hybrid first analytics project look like for an organization that has not approached true analytics in the past and what elements from each methodology would you apply? Assume the organization is relatively mature (in life cycle) but novice in deep analytics and has relatively clean and accessible data as well as well educated users. The main advantage I can see using a logic driven analytics (as one of the requirement) is