The Analytics Compass Blog

Twice weekly articles to help SMB companies optimize business performance with data analytics and to improve their analytics expertise.

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Seven Things to Consider Before You Kick-off a Data Analytics Project

  
  
  
ensuring analytics success

Every company looks for ways to save money, but it is important to remember that your company needs to drive increases in value at all times.  Data analytics is a great discipline/tool to do both.

8 processes where IoT can positively impact supply chains

  
  
  
IoT in aircraft supply chain resized 600

This article was contributed by Vaibhav Waghmare.

3 things SMBs need to understand about analytics and making it stick

  
  
  
why do analytics implementations fail?

Recently on the Harvard Business Review blog there was an article on "Why Your Analytics are Failing you?" In the article, they talk about one business which claimed to deploy a wide range of real time analytics unimaginable 5 years ago, but without any tangible business returns. If this is the state of affairs for larger enterprises, what can you say about small and medium businesses that try to adopt and deploy analytics?

3 steps to prepare for internet of things revolution in manufacturing

  
  
  
Open Cover spring 2012 Big Data web resized 600

This article was contributed by Vaibhav Waghmare.

Internet of things and big data: from sports to manufacturing

  
  
  
Wearables internet of things connected devices resized 600

Sports analytics is set to become a driving force in the sports industry. Analytics is helping industry experts to take better decisions on a variety of issues ranging from selection of players during team formation to tactical plays during a game to increasing fan engagement. For example, in earlier article on Predictive analytics in cricket: from decision tree to random forest, it was explained how the possible outcome of a game could be predicted based on earlier data for similar events. The way fans consume sports data and how the game is played is changing the face of sports. The objective of analytics applied to sports data is to turn it into the value for both consumers as well as sports professionals.

Data Analytics – Why Finance Leaders Should Care

  
  
  
CFO Analytics

As a CPA and a former-CFO, I’m often asked about the changing role of financial executives. Sure, there are the normal, day-to-day, financial watchdog aspects of the role that will always remain important but more and more, CFOs are being asked to lead strategic projects that determine where the company is going to be in the future. This places these leaders in the unique position of being the “keeper of the past”, while requiring them to look outside of that comfort zone and find forward-looking data sources that they can integrate and create predictive insights with. Key to success in these efforts is effectively communicating and relating these data sets with an intuitive interface and methodology.

Internet of things: could it have helped with Malaysian plane search?

  
  
  
Blackbox internet of things resized 600

Nearly 3 weeks after MH 370 went missing on March 8, 2014, we are still looking for physical evidence of the plane. Concrete facts about what happened still remain elusive. A variety of theories have been put forward, from hijacking or sabotage, accident, to a slow loss of cabin pressure which in turn could cause the crew and passengers to become disorientated. 

Making analytics accessible using "homegrown" dashboards

  
  
  
simple excel dashboard for advanced analytics resized 600

The need to use models for making predictions or forecasts is pretty universal across businesses. Many small businesses have this latent need, but are unable to fulfil it because of two main issues: lack of adequate skills and cost of modeling tools. There is a third key issue: lack of adequate mechanisms to deploy or "operationalize" the models.

Digging into our lizard brain with sentiment analysis and analytics

  
  
  
6 universal emotions resized 600

Marketing researchers are increasingly turning their attention towards the behavioural sciences to understand what triggers purchase behavior among customers. The more these triggers are studied, the more it seems that people buy when they make emotional connections. An interesting hypothesis is that people have what is termed as "premature cognitive commitment".

2 simple visual analysis tools to employ before text mining

  
  
  
word tree for text mining

This article was contributed by Vaibhav Waghmare.

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