Eight Essentials of Business Analytics - Slide 7

Email     |     Share  
1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10
Next Eight Essentials of Business Analytics-7 Next

Create a centralized team approach – an analytical center of excellence (ACE) – which promotes the use of analytics and associated best practices. Your implementation of an ACE will depend on your organization’s maturity and requirements, but the most effective implementations address all elements of the organization’s analytic infrastructure: people, process, technology and culture to support the business’ strategy and operations.

Leading banks use business analytics to predict and prevent credit fraud, saving millions. Retailers use business analytics to predict the best location for stores and how to stock them. Pharmaceutical firms use it to get life-saving drugs to market more quickly. Even sports teams are getting in on the action, using business analytics to determine both game strategy and optimal ticket prices.

But these advanced business applications tell only part of the story. What’s going on inside these market-leading companies that sets them apart?

They have committed to deploying their people, technologies and business processes in new ways. They have committed to a culture that is based on fact-based decisions – which helps them anticipate and solve complex business problems throughout the organization. By embracing an analytical approach, these companies identify their most profitable customers, accelerate product innovation, optimize supply chains and pricing, and identify the true drivers of financial performance.

This slideshow features eight essential actions, identified by SAS®, to help you get started with business analytics.

Copyright © 2011 SAS Institute Inc. Cary, NC, USA. All rights reserved.

More Slideshows:


A Step-by-step Guide for Getting a Job in 30 Days Ten solid tips for finding a job in a month.

Prepare for Canada's Anti-spam Law with Email Best Practices Tips to help organizations practice permission-based marketing and prepare for compliance with Canada's new anti-spam legislation.

Promising New Tablets New tablets that are looking to compete with the iPad.

 

Related Topics : Business Intelligence Vendors, Data Quality, Data Warehousing, Key Performance Indicators, Knowledge Management

 
More Slideshows

ArriaNLG-IoTAutomation0x Internet of Things Personified: Integration and Automation

The real value that the Internet of Things brings is at the intersection of gathering data and leveraging it. ...  More >>

email12-190x128 Why Email Is a Business’ Greatest Untapped Resource

Five ways enterprises can use email analytics augmented by machine learning to surface insights that can help them ward off risk and meet or exceed goals across their organizations. ...  More >>

Analytics19-290x195 How to Evaluate Predictive Analytics for Your Business

Predictive analytics uses past data to forecast outcomes and target the right prospects – a move that's redefining the use of data and insights in marketing. ...  More >>

Subscribe to our Newsletters

Sign up now and get the best business technology insights direct to your inbox.