Chapter 1
The Value of Business Analytics
Evan Stubbs
Learning Objectives
By the end of this chapter, you should understand:
- The importance of business analytics.
- The difference between business analytics and analytics.
- How value creates a reason to act and support change.
- The importance of value definition and quantification in business analytics.
- How to take communication preferences into account when communicating value.
Concepts
Why Business Analytics?
Knowing more than one’s competitors creates advantage. The intelligence generated by Bletchley Park arguably shortened World War II by as much as two to four years.* Gosset’s research gave Guinness market advantage through clarifying the relationship between crop yields and beer production. ...
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