Advanced Analytics Methodologies: Driving Business Value with Analytics

1. Principles of Modern Analytics

There was a time, not long ago, when enterprise analytics was simple: You bought software from the leading vendor and installed it on a box. If your needs changed, you bought more software from the same vendor and installed it on a bigger box. Analytics was a niche field populated by specialists, all of whom used the same software they learned in graduate school. People still believed that a single data warehouse could hold everything worth knowing.

The business cadence was, in retrospect, leisurely: If it took two years to implement a predictive model, well, that was just how things worked. Not that long ago, a big bank ran four campaigns per year to promote its credit card; at the time, executives thought that ...