From the course: Predictive Analytics Essential Training for Executives
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Analytics as a profit center
From the course: Predictive Analytics Essential Training for Executives
Analytics as a profit center
- In my experience there are many organizations that try to restrict their commitment to analytics to fit within a budget. Though that may seem reasonable on a high level, I feel like it's a potential mistake. Why? Because it usually reveals an emphasis, on securing and supporting analytics technology, not on successfully running analytics projects. Too much emphasis is put on negotiating, and being sold to by vendors, and not enough time talking about what your staff needs to produce value, and carefully measuring that value. Now, while it may be true that calculating ROI for BI projects is nearly impossible, it is not true for predictive analytics projects. Now of course BI projects are just as critical to the business as predictive analytics projects are. In fact I think there's so much excitement these days about predicting everything, that those responsible for getting us accurate facts about what is happening…
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