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REVIEW YOUR BUSINESSCOMPREHENSIVELY

BEING ANALYTICAL—or more specifically, being successful with analytics—is not a one-time activity. Analytical competitors must constantly review and revise their approaches in light of their business strategies and business models, changing market conditions, competitor initiatives, and the expectations and behaviors of customers. These days the world changes rapidly and analytical models need to reflect the changes. In this chapter, we discuss how to keep track of your analytical processes and models to make it easier to stay in sync with changing business conditions.

The 2007–2009 financial crisis provides an excellent illustration of the importance of continuous review of analytics. Financial institutions ...

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