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  • Big Data.

  • Analytics.

  • We've all heard the buzzwords.

  • But what do they really mean?

  • And how can they help your business?

  • Let's start with definitions.

  • Big data refers to the vast volumes and types

  • of information that companies can now

  • collect and process using increasingly high-tech systems.

  • This comes from both internal sources --

  • within your company -- and external ones -- customers,

  • suppliers, and the broader market.

  • It is both structured -- such as customer purchase data from

  • retail stores -- and unstructured --

  • such as Internet search results --

  • though all data has to be put into structured formats to be

  • analyzed.

  • Analytics is the use of math and statistics

  • to derive meaning from data in order

  • to make better business decisions.

  • There are three kinds of analytics.

  • Some are descriptive -- for example dashboards,

  • scorecards and alerts.

  • They tell you what happened in the past,

  • but not why it happened, or what might change.

  • Predictive analytics are more useful:

  • They use past data to model future outcomes --

  • perhaps indicating how customers will respond to a marketing

  • promotion or how sales will be affected by certain market

  • conditions.

  • Even better are prescriptive analytics,

  • which use techniques like optimization or A-B testing

  • to advise managers and workers on how best to do their jobs.

  • They might tell a TV salesman the right discount to offer,

  • a web designer which type of ad will elicit more clicks,

  • or a truck driver where to stop for gas.

  • When you combine big data with effective analytics,

  • you have what Babson College professor Tom Davenport

  • believes to be a key competitive advantage for organizations

  • today.

  • What capabilities does your organization need to succeed?

  • One approach is the DELTA model: Data that is clean, accessible,

  • and often unique to your company.

  • An enterprise-wide focus, with key data systems and analytics

  • resources available to the whole firm, not just isolated teams.

  • Leaders at all levels that promote

  • a data-and-analytics driven culture.

  • Targets for key business areas that

  • could benefit from this approach.

  • And talented analysts to execute the strategy.

  • In a complex and dynamic business environment,

  • big data and smart analytics are more than buzzwords.

  • They're an important way to improve decision making

  • and ensure that your company is a step ahead

  • of its competitors.

Big Data.

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B1 中級

解説者。ビッグデータとアナリティクス (The Explainer: Big Data and Analytics)

  • 134 12
    歐小拉 に公開 2021 年 01 月 14 日
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