For companies that look for real business value by analyzing their data, here are five tips to help you through the process.
Problem: Now that the user has gotten rid of non–relevant outliers and social media noise, how does one confirm whether a trend is problematic or just part of the norm?
Solution: The user must ask, is it unique in comparison with the behavior exhibited by all possible peer groups? In other words, is this happening everywhere else (e.g., other products, other stores, other geographies, competing products)? Segmenting an opportunity or a business issue is essential for turning this into actionable data.