Business analytics for managers: taking business intelligence beyond reporting

WHAT IS THE SCOPE OF BUSINESS ANALYTICS? INFORMATION SYSTEMS—NOT TECHNICAL SOLUTIONS PURPOSE AND AUDIENCE ORGANIZATION OF CHAPTERS WHY THE TERM BUSINESS ANALYTICS?The Business Analytics Model OVERVIEW OF THE BUSINESS ANALYTICS MODEL Strategy Creation Business Processes and Information Use Types of Reporting and Analytical Processes Data Warehouse Data Sources: IT Operations and Development DEPLOYMENT OF THE BUSINESS ANALYTICS MODEL Case Study: How to Make an Information Strategy for a Radio Station Overall Strategic Targets of the Business Functional Strategy and Business Case Business Processes and Actions Analytical Processes and Front Ends Data Warehouse Data Sources: IT Operations and Development Evaluation of the Business Analytics Process SUMMARY Business Analytics at the Strategic Level LINK BETWEEN STRATEGY AND THE DEPLOYMENT OF BUSINESS ANALYTICS STRATEGY AND BUSINESS ANALYTICS: FOUR SCENARIOS Scenario 1: No Formal Link between Strategy and Business Analytics Scenario 2: Business Analytics Supports Strategy at a Functional Level Five Requirements for Targets Scenario 3: Dialogue between the Strategy and the Business Analytics Functions Scenario 4: Information as a Strategic Resource WHICH INFORMATION DO WE PRIORITIZE?The Product and Innovation Perspective Customer Relations Perspective The Operational Excellence Perspective SUMMARY Development and Deployment of Information at the Functional Level CASE STUDY: A TRIP TO THE SUMMERHOUSE Specification of Requirements Technical Support Off We Go to the Summerhouse Lead and Lag Information More about Lead and Lag Information ESTABLISHING BUSINESS PROCESSES WITH THE ROCKART MODEL EXAMPLE: ESTABLISHING NEW BUSINESS PROCESSES WITH THE ROCKART MODEL Level 1: Identifying the Objectives Level 2: Identifying an Operational Strategy Level 3: Identifying the Critical Success Factors Level 4: Identifying Lead and Lag Information OPTIMIZING EXISTING BUSINESS PROCESSES EXAMPLE: DEPLOYING PERFORMANCE MANAGEMENT TO OPTIMIZE EXISTING PROCESSES Concept of Performance Management WHICH PROCESS SHOULD WE START WITH?Customer Relationship Management Activities Campaign Management Product Development Web Log Analyses Pricing Human Resource Development Corporate Performance Management Finance Inventory Management Supply Chain Management Lean A CATALOGUE OF IDEAS WITH KEY PERFORMANCE INDICATORS FOR THE COMPANY'S DIFFERENT FUNCTIONS SUMMARY Business Analytics at the Analytical Level DATA, INFORMATION, AND KNOWLEDGE ANALYST'S ROLE IN THE BUSINESS ANALYTICS MODEL THREE REQUIREMENTS THE ANALYST MUST MEET Business Competencies Tool Kit Must Be in Order (Method Competencies)Technical Understanding (Data Competencies)REQUIRED COMPETENCIES FOR THE ANALYST Analytical Methods (Information Domains)How to Select the Analytical Method The Three Imperatives Descriptive Statistical Methods, Lists, and Reports Ad Hoc Reports Manually Updated Reports Automated Reports: On Demand Automated Reports: Event Driven Reports in General HYPOTHESIS-DRIVEN METHODS Tests with Several input Variables DATA MINING WITH TARGET VARIABLES Data Mining Algorithms EXPLORATIVE METHODS Data Reduction Cluster Analysis Cross-Sell Models Up-Sell Models BUSINESS REQUIREMENTS Definition of the Overall Problem Definition of Delivery Definition of Content SUMMARY Business Analytics at the Data Warehouse Level WHY A DATA WAREHOUSE?ARCHITECTURE AND PROCESSES IN A DATA WAREHOUSE Selection of Certain Columns To Be Loaded Staging Area and Operational Data Stores Causes and Effects of Poor Data Quality The Data Warehouse: Functions, Components, and Examples Alternative Ways of Storing Data Business Analytics Portal: Functions and Examples TIPS AND TECHNIQUES IN DATA WAREHOUSING Master Data Management Service-Oriented Architecture How Should Data Be Accessed?Access to Business Analytics Portals Access to Data Mart Areas Access to Data Warehouse Areas Access to Source Systems SUMMARY The Company's Collection of Source Data WHAT ARE SOURCE SYSTEMS, AND WHAT CAN THEY BE USED FOR?WHICH INFORMATION IS BEST TO USE FOR WHICH TASK?WHEN THERE IS MORE THAN ONE WAY TO GET THE JOB DONE WHEN THE QUALITY OF SOURCE DATA FAILS SUMMARY Structuring of a Business Analytics Competency Center WHAT IS A BUSINESS ANALYTICS COMPETENCY CENTER?WHY SET UP A BUSINESS ANALYTICS COMPETENCY CENTER?TASKS AND COMPETENCIES Establishing an Information Wheel Creating Synergies between Information Wheels Educating Users Prioritizing New Business Analytics Initiatives Competencies CENTRALIZED OR DECENTRALIZED ORGANIZATION Strategy and Performance When the Analysts Report to the IT Department WHEN SHOULD A BUSINESS ANALYTICS COMPETENCY CENTER BE ESTABLISHED?APPLYING THE ANALYTICAL FACTORY APPROACH SUMMARY Assessment and Prioritization of Business Analytics Projects IS IT A STRATEGIC PROJECT OR NOT?Uncovering the Value Creation of the Project WHEN PROJECTS RUN OVER SEVERAL YEARS WHEN THE UNCERTAINTY IS TOO BIG The Descriptive Part of the Cost/Benefit Analysis for the Business Case The Cost/Benefit Analysis Used for the Business Case PROJECTS AS PART OF THE BIGGER PICTURE Case Study on How to Make an Information Strategy Roadmap SUMMARY Business Analytics in the Future