Posts filed under ‘General Analytics’

Getting Value from Your Data Series: It’s All About Your Data Ecosystem

thinking guy data

By Marilyn Craig and Mary Ludloff

We’re back with the fourth post in our series on how to get value from your data, including how to ensure that new “data” and “analytics” products are designed for successful delivery to new and existing customers.

In the previous posts in this series, we discussed our methodology and what is required in terms of understanding your target customer—who they are and what they need—as well as making sure you have the right Team in place to work on the project. In this post, we are going to discuss how you build your Data Ecosystem:

  • What is needed to ensure that data processes will support the new product(s)?
  • How do you identify appropriate data partners and enhancements?
  • What privacy- and security-related issues must you be aware of and address?

(more…)

October 12, 2015 at 8:41 am 1 comment

Getting Value From Your Data Series: It’s All About the Team

By Marilyn Craig & Mary Ludloff

monetize people justice leagueWelcome back to the third post in our series on how to get value from your data.
As we stated in a previous post:

“Data, without the proper use of analytics, is meaningless. If data is the new oil, think of analytics as the oil drills—you need both to be successful.”

Of course, getting to “success” is not easy as anyone involved in an analytics project will tell you. This series walks you through our methodology on what it takes—from inception to proof of concept to implementation and deployment—to navigate project pitfalls. However, if you’ve assembled a great team, you will be able to drill for all that oil. In our experience, great teams tend to develop, manage, and sustain successful analytics projects: It all comes down to having the right people with the right skill set. (more…)

March 2, 2015 at 5:21 pm 1 comment

In a pii (Privacy, Identity, Innovation) Conference State of Mind

By Mary Ludloff

pii2014Although this year has been extremely busy for us, Terence and I always find time for this event: The Privacy Identity Innovation Conference.  Natalie Fonseca, the Co-Founder and Executive Producer of it, is the driving force behind its ongoing success. This year’s program focuses on:

“… the latest developments in areas like mobile, biometrics, the Internet of Things and big data. Learn about emerging trends and business models driving the personal information economy, and get guidance on developing strategies and best practices to build trust with your users.” (more…)

November 9, 2014 at 1:33 pm Leave a comment

Getting Value From Your Data Series: Who Is Your Target Customer?

target customer

By Mary Ludloff and Marilyn Craig

Welcome back to the second post in our series on how to get value from your data. As we stated in a previous post:

“Data, without the proper use of analytics, is meaningless. If data is the new oil, think of analytics as the oil drills—you need both to be successful.”

Of course, getting to “success” is not easy as anyone involved in an analytics project will tell you. This series walks you through our methodology on what it takes—from inception to proof of concept to implementation and deployment—to navigate project pitfalls. Now most of us have been involved with great analytics projects that answered no real need. In this post, we take a look at the customer, their pain points, and what benefits they may derive from your analytics project. In other words: Who is your target customer? (more…)

October 15, 2014 at 4:41 pm 1 comment

Getting Value From Your Data Series: The Road May Be Rocky But It’s Well Worth the Effort!

roadwork

By Mary Ludloff and Marilyn Craig

Unless you’ve been asleep for the past couple of years, you, like us, have heard this phrase again and again:  Data is the new oil.  It certainly sounds great but what exactly does it mean? Here’s our take: Getting the most value out of your data can make you better at what you do as well as enable you to do more with what you have. In other words, there’s unrealized value in those data silos that all companies have. But make no mistake: the road to realizing data value is paved with good intentions and often times, poor execution and results.

oil drillsToday, most companies are drowning in data—there’s historical data from operations, data from public sources, data from partners and acquisitions, data you can purchase from data brokers, etc.  These companies have read all the research and want to leverage their data assets to make “better” operational decisions, to offer their existing customer base more insights, to pursue new revenue opportunities. Of course, the real value in that data is derived from the business analytics that deliver the insights that drive better decisions. As we’ve said quite often on this blog: Data, without the proper use of analytics, is meaningless. If data is the new oil, think of analytics as the oil drills—you need both to be successful. (more…)

September 30, 2014 at 4:06 pm 4 comments

Lessons Learned from the Google Flu Tracker—Why We Need More Than Just Data

By Marilyn Craig and Mary Ludloff

God we trustWe read an interesting paper and post about Google Flu Trends (GFT) and its foibles last week. The paper points out a couple of lessons that those of us living in the big data analytics world have learned the hard way but the dangers are worth revisiting as tools like ours (AnalyticsPBI for Azure) begin to move big data analytics into the mainstream of organizational practices. After all, our tool (and others like it) makes it easy and even fun for analytics junkies to use all those available zettabytes of data and answer questions that they’ve long wondered about. But the paper also reminded us of the dangers of ignoring the natural cycles of an analytics process that we talked about in this recent post. If Google followed the PatternBuilders Analytics Methodology, they might have avoided many of the errors that GFT is now spitting out. In fact, the authors of the paper point out that:

“Although not widely reported until 2013, the new GFT has been persistently overestimating flu prevalence for a much longer time. GFT also missed by a very large margin in the 2011-2012 flu season and has missed high for 100 out of 108 weeks starting with August 2011… This pattern means that GFT overlooks considerable information that could be extracted by traditional statistical methods.”

This overestimation is attributed to two primary factors: data hubris and algorithm dynamics. (more…)

April 9, 2014 at 6:15 pm Leave a comment

Reporting, Analytics, and Big Data: A Continuous Feedback Loop to Drive Better Decision-Making

By Marilyn Craig

LoopA recent conversation with a client reminded me that no matter how crazy and exciting the Big Data world gets, it is still critical to understand what your goals are and where you are in the process of reaching those goals. Having a good foundation in “what’s important” is critical before you jump into the wild world of Big Analytics.

For example, in big data (well, actually all data but I digress) “Reporting” and “Analytics” are very different functions. But I often find our customers and prospects grappling with how to distinguish one from the other and as a result, confusing reporting with analysis and losing track of their real goals.

(more…)

March 2, 2014 at 3:07 pm 3 comments

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