The Concept of Analytics

I start just about all my Power Point presentation trying to get a sense of where the audience is with their comprehension of analytics.

Per Wikipedia, the definition of analytics is simply the discovery and communication of meaningful patterns in data.

1508982_603376689807778_4892012849582809050_n

While most people have an idea of what analytics is: data, analysis, metrics, and business intelligence are just the start… it is an abstract concept that is difficult to summarize in a sentence or two.

Most business leaders know that they need more analytics based decision making in their operations, however few have figured out how to obtain it as analytics software or engaging high priced consultants doesn’t suffice.

This approach is more about empowering analytical thinking then it is teaching a technological skill. I have found that being able to harness the power of analytics is as much an art as it is a science. In the end, analytics is about three things; finding data, analyzing it and communicating the results.

Over the next several blog posts, I will take the core slides of my standard Introduction to Analytics Power Point and share the content here.

When I think of analytics and what it can do to empower people, companies and ideas, I always think of this quote:

“Far better is it to dare mighty things, to win glorious triumphs, even though checkered by failure… than to rank with those poor spirits who neither enjoy nor suffer much, because they live in a gray twilight that knows not victory nor defeat.”  – Theodore Roosevelt

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s