By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
SmartData Collective
  • Analytics
    AnalyticsShow More
    construction analytics
    5 Benefits of Analytics to Manage Commercial Construction
    5 Min Read
    benefits of data analytics for financial industry
    Fascinating Changes Data Analytics Brings to Finance
    7 Min Read
    analyzing big data for its quality and value
    Use this Strategic Approach to Maximize Your Data’s Value
    6 Min Read
    data-driven seo for product pages
    6 Tips for Using Data Analytics for Product Page SEO
    11 Min Read
    big data analytics in business
    5 Ways to Utilize Data Analytics to Grow Your Business
    6 Min Read
  • Big Data
  • BI
  • Exclusive
  • IT
  • Marketing
  • Software
Search
© 2008-23 SmartData Collective. All Rights Reserved.
Reading: The three legged stool – business, analytics, IT
Share
Notification Show More
Latest News
cloud-centric companies using network relocation
Cloud-Centric Companies Discover Benefits & Pitfalls of Network Relocation
Cloud Computing
construction analytics
5 Benefits of Analytics to Manage Commercial Construction
Analytics
database compliance guide
Four Strategies For Effective Database Compliance
Data Management
Digital Security From Weaponized AI
Fortifying Enterprise Digital Security Against Hackers Weaponizing AI
Security
DevOps on cloud
Optimizing Cost with DevOps on the Cloud
Development
Aa
SmartData Collective
Aa
Search
  • About
  • Help
  • Privacy
Follow US
© 2008-23 SmartData Collective. All Rights Reserved.
SmartData Collective > Big Data > Data Mining > The three legged stool – business, analytics, IT
Data MiningExclusivePredictive Analytics

The three legged stool – business, analytics, IT

JamesTaylor
Last updated: 2010/10/25 at 5:29 AM
JamesTaylor
6 Min Read
SHARE
- Advertisement -

I was inspired to write something this week on the need to get people to collaborate by a post Jim Harris wrote called The Business versus IT—Tear down this wall! and the response Gary Cokins made in That Wall Dividing IT and Users.

I was inspired to write something this week on the need to get people to collaborate by a post Jim Harris wrote called The Business versus IT—Tear down this wall! and the response Gary Cokins made in That Wall Dividing IT and Users. Both Jim and Gary make the point that collaboration between business and IT organizations and people is essential if we are to make progress while Gary asked if business analytics was both something that required collaboration and fostered it. And these two great posts made me think of a topic I often cover in my workshops and speeches – the need for a three-way dialog between business, IT and analytic experts.

- Advertisement -

Now my focus is on the effective automation, management and improvement of operational business decisions – Decision Management. I believe passionately that Operational decision-making can and should be a corporate asset. But doing so requires a unique collaboration – not just between the business and IT but between the business, IT and analytics. Operational decisions have some specific characteristics that drive this.

  • First they are business decisions. Even though each decision is small, their business impact is great because there are so many of them. Because they are business decisions, the definition of what makes a good decision or a bad decision is driven by the business. And the actions that can be taken, the logic that should be followed, the policies and regulations are all specified by and understood by the business.
  •  Second they are high volume, low latency decisions – decisions that must be taken often and taken quickly. This means automation, it means the decision making must be deployed into a production or transactional system like your website or your CRM system. To make this work, IT must be part of the solution.
  • Finally they should be analyzed analytically, made by the numbers wherever possible and continuously improved. This means analytics expertise is going to be required and, increasingly, this means data mining and predictive analytics expertise which means analytic experts.

But these three groups don’t have much of a history of collaborating. As Jim and Gary point out, IT departments and business users are often on a different page with IT struggling to support changing business needs while business people get frustrated at their systems. Analytics people often focus on the accuracy of their model not the business outcome – they produce models that considered best because they have the best statistical measures not because they produce the most profitable result. And the way analytics people access and analyze data and the complexity of the models they produce are not always compatible with the way production systems work, resulting in models that take 6 months or more to implement or that are simply too complex for IT to use. Meanwhile the IT folks who design systems and specify enhancements lack the kind of analytics skills that would let them see how analytics could improve the systems they are working on. This lack of mutual understanding and of collaboration simply won’t get it done with decision management.

More Read

big data technology has helped improve the state of both the deep web and dark web

What Role Does Big Data Have on the Deep Web?

Albanian Bitcoin Investors Tap the Power of Predictive Analytics
Predictive Analytics Improves Trading Decisions as Euro Rebounds
Perks of Predictive Analytics for Businesses Big and Small
How can CIOs Build Business Value with Business Analytics?

Getting these three groups into a conversation, getting them thinking about collaborating is key. The business folks have to identify the decisions that matter to their business and define good and bad decisions. The IT people have to be able to explain how the production systems that use those decisions work and bring the business people inside, allowing them to define and manage the logic of these decisions (using business rules technology, for instance). Analytic teams need to see the business need, talk to IT about the data available and see what kinds of models they can build that will result in better business outcomes while still being deployable. And if there are ways the systems could be improved to get better analytic results (and so deliver better business results), then this needs to be a three-way conversation. You get the picture.

Better business outcomes is everyone’s objectives. When it comes to the critical run-the-business operational decisions, all three legs of the stool have to participate.

TAGGED: analytic decisions, business decisions, collaboration, data mining, decision management, operational analytics, operational decisions, predictive analytics
JamesTaylor October 25, 2010
Share this Article
Facebook Twitter Pinterest LinkedIn
Share
- Advertisement -

Follow us on Facebook

Latest News

cloud-centric companies using network relocation
Cloud-Centric Companies Discover Benefits & Pitfalls of Network Relocation
Cloud Computing
construction analytics
5 Benefits of Analytics to Manage Commercial Construction
Analytics
database compliance guide
Four Strategies For Effective Database Compliance
Data Management
Digital Security From Weaponized AI
Fortifying Enterprise Digital Security Against Hackers Weaponizing AI
Security

Stay Connected

1.2k Followers Like
33.7k Followers Follow
222 Followers Pin

You Might also Like

big data technology has helped improve the state of both the deep web and dark web
Big Data

What Role Does Big Data Have on the Deep Web?

8 Min Read
predictive analytics helps Albanian bitcoin investors
Blockchain

Albanian Bitcoin Investors Tap the Power of Predictive Analytics

9 Min Read
benefits of data analytics for financial management
Predictive Analytics

Predictive Analytics Improves Trading Decisions as Euro Rebounds

10 Min Read
predictive analytics
Predictive Analytics

Perks of Predictive Analytics for Businesses Big and Small

6 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 in ecommerce
Artificial Intelligence for eCommerce: A Closer Look
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?