By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
SmartData Collective
  • Analytics
    AnalyticsShow More
    data science anayst
    Growing Demand for Data Science & Data Analyst Roles
    6 Min Read
    predictive analytics in dropshipping
    Predictive Analytics Helps New Dropshipping Businesses Thrive
    12 Min Read
    data-driven approach in healthcare
    The Importance of Data-Driven Approaches to Improving Healthcare in Rural Areas
    6 Min Read
    analytics for tax compliance
    Analytics Changes the Calculus of Business Tax Compliance
    8 Min Read
    big data analytics in gaming
    The Role of Big Data Analytics in Gaming
    10 Min Read
  • Big Data
  • BI
  • Exclusive
  • IT
  • Marketing
  • Software
Search
© 2008-23 SmartData Collective. All Rights Reserved.
Reading: Building an Analytical Portal to Support Analytical Culture
Share
Notification Show More
Latest News
SMEs Use AI-Driven Financial Software for Greater Efficiency
Artificial Intelligence
data security in big data age
6 Reasons to Boost Data Security Plan in the Age of Big Data
Big Data
data science anayst
Growing Demand for Data Science & Data Analyst Roles
Data Science
ai software development
Key Strategies to Develop AI Software Cost-Effectively
Artificial Intelligence
ai in omnichannel marketing
AI is Driving Huge Changes in Omnichannel Marketing
Artificial Intelligence
Aa
SmartData Collective
Aa
Search
  • About
  • Help
  • Privacy
Follow US
© 2008-23 SmartData Collective. All Rights Reserved.
SmartData Collective > Data Management > Best Practices > Building an Analytical Portal to Support Analytical Culture
AnalyticsBest PracticesBusiness IntelligenceBusiness RulesCulture/LeadershipData MiningData QualityDecision ManagementKnowledge ManagementModelingPredictive AnalyticsStatistics

Building an Analytical Portal to Support Analytical Culture

Editor SDC
Last updated: 2011/06/22 at 4:30 PM
Editor SDC
5 Min Read
SHARE

CAN was started in 2008, to make predictive analytics applicable and accessible to businesses of almost any size.  To fulfill our mission we have become experts in helping our clients adopt predictive analytics.  The first step in adopting predictive analytics is to start building an analytical culture.  In an analytical culture, people:

CAN was started in 2008, to make predictive analytics applicable and accessible to businesses of almost any size.  To fulfill our mission we have become experts in helping our clients adopt predictive analytics.  The first step in adopting predictive analytics is to start building an analytical culture.  In an analytical culture, people:

Know the Numbers: Everyone should know what is happening and whether certain strategies were successful.  The objective of knowing the numbers is not to judge individuals or the team, but learn from the past and refine future attempts at innovation.

More Read

predictive analytics in dropshipping

Predictive Analytics Helps New Dropshipping Businesses Thrive

The Importance of Data-Driven Approaches to Improving Healthcare in Rural Areas
Promising Benefits of Predictive Analytics in Asset Management
Albanian Bitcoin Investors Tap the Power of Predictive Analytics
Predictive Analytics Improves Trading Decisions as Euro Rebounds

Examine the Numbers: In order to effectively discuss and examine the numbers, team members should be familiar with the numbers, their assumptions, and their application.

Use the Numbers: The ultimate goal of adopting analytics is to make better decisions.  This is the hardest and most complex phase of becoming analytical.  However, when achieved, this stage provides the highest Return on Investment (ROI).  It requires participating members to understand factors driving the numbers, historical paradigm shifts, and the assumptions used to make decisions.  Once the factors and assumptions are understood, they can be utilized properly to optimize processes and predict outcomes of specific decisions.   

The Analytical Portal

The key to building an analytical culture is to make analytics easy to use, understand, and accessible.  The easiest way to do this is to develop an analytical portal.  The purpose of the analytical portal is to allow everyone in your organization to know, examine, and use the numbers without having to contact the accounting and information technology departments every time a report or numbers are needed.  Your analytical portal should allow people to have access to 5 business intelligence tools:

 Dashboards will be used to quickly and easily report key metrics.  The key to building successful dashboards is to choose the correct metrics and provide quick and easy access.  Dashboards as well as scorecards will allow team members to see the big picture and drill down into finer details on a need to know basis.  Dashboards differ from slicing & dicing data in that dashboards are predetermined visualizations of key metrics that are the same across individuals and time.

Detailed Reports are to be read before using analytics to make decisions.  These are designed to ensure that statistics, equations, metrics and other reports analytics are fully understood.  This will ensure that recommendations are properly implemented.

Slicing & Dicing Data allows your employees to ask questions about the data and get quick responses.  People should be able to quickly pull any data that they want from a variety of data sources such as the census, economic data, news sources via text mining, social media, surveys, and internal databases.

Predictive Analytics allows your employees to understand the relationship between outcomes and the variables that drive them.  The results of predictive analytics can be used to simulate the outcome of specific decisions and create strategies to maximize outcomes.

Alerts & Notifications are the watchdogs of analytics.  They provide a dependable and timely way to bring awareness to team members about important events, but are not distracted by smaller, less significant changes.  If properly implemented, managers will spend less time monitoring employees and more time addressing key issues.  Alerts & Notifications can be sent via email, dashboard widget or text message.

TAGGED: analysis, analytics, analytics + data mining, contemporary analysis, Eric Burns, predictive analytics
Editor SDC June 22, 2011
Share this Article
Facebook Twitter Pinterest LinkedIn
Share

Follow us on Facebook

Latest News

SMEs Use AI-Driven Financial Software for Greater Efficiency
Artificial Intelligence
data security in big data age
6 Reasons to Boost Data Security Plan in the Age of Big Data
Big Data
data science anayst
Growing Demand for Data Science & Data Analyst Roles
Data Science
ai software development
Key Strategies to Develop AI Software Cost-Effectively
Artificial Intelligence

Stay Connected

1.2k Followers Like
33.7k Followers Follow
222 Followers Pin

You Might also Like

predictive analytics in dropshipping
Predictive Analytics

Predictive Analytics Helps New Dropshipping Businesses Thrive

12 Min Read
data-driven approach in healthcare
Analytics

The Importance of Data-Driven Approaches to Improving Healthcare in Rural Areas

6 Min Read
analyst,women,looking,at,kpi,data,on,computer,screen
Predictive Analytics

Promising Benefits of Predictive Analytics in Asset Management

11 Min Read
predictive analytics helps Albanian bitcoin investors
Blockchain

Albanian Bitcoin Investors Tap the Power of Predictive Analytics

9 Min Read

SmartData Collective is one of the largest & trusted community covering technical content about Big Data, BI, Cloud, Analytics, Artificial Intelligence, IoT & more.

AI and chatbots
Chatbots and SEO: How Can Chatbots Improve Your SEO Ranking?
Artificial Intelligence Chatbots Exclusive
ai is improving the safety of cars
From Bolts to Bots: How AI Is Fortifying the Automotive Industry
Artificial Intelligence

Quick Link

  • About
  • Contact
  • Privacy
Follow US

© 2008-23 SmartData Collective. All Rights Reserved.

Removed from reading list

Undo
Go to mobile version
Welcome Back!

Sign in to your account

Lost your password?