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Analytics Methods

In: Business Analytics

Author

Listed:
  • Rahul Saxena
  • Anand Srinivasan

Abstract

Analytics comes from people—someone (or some team) conceives an idea, frames it, makes a model, gets the data needed to make it work, fiddles with the model until the results look useful, uses it to make decisions gets the decisions, drives implementation, and measures the results. Analytics provides fertile soil for ideas, and decision models are ideas—sometimes hugely influential ideas. The model has to be relevant (define and solve a decision need) as well as scientific (able to produce an answer or a set of answers that can be tested). We assert that unless the decision making method addresses all six analytics functions, it will not yield optimal results.

Suggested Citation

  • Rahul Saxena & Anand Srinivasan, 2013. "Analytics Methods," International Series in Operations Research & Management Science, in: Business Analytics, edition 127, chapter 0, pages 133-139, Springer.
    • Handle: RePEc:spr:isochp:978-1-4614-6080-0_11
    DOI: 10.1007/978-1-4614-6080-0_11
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