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Win with Advanced Business Analytics: Creating Business Value from Your Data
book

Win with Advanced Business Analytics: Creating Business Value from Your Data

by Jean Paul Isson, Jesse Harriott
October 2012
Beginner to intermediate
398 pages
10h 22m
English
Wiley
Audiobook available
Content preview from Win with Advanced Business Analytics: Creating Business Value from Your Data

HR ANALYSIS AND PREDICTABILITY

HR analysis comes in three flavors: descriptive, predictive, and prescriptive. The latter two are tightly interwoven, yet distinct.

1. Descriptive analysis tells us what happened.
2. Predictive analysis tells us what will happen.
3. Prescriptive analysis tells us how to make it happen.

Consider how this works in a medical model. Jack is not feeling well, so he schedules an appointment with an internist. On arrival, the doctor asks what the problem is. Jack says he has a headache, a runny nose, a sore throat, chest congestion, a bit of fever, and no energy. This is description.

Additional questions are asked by the doctor, along with his performing checks of vital signs, palpitations, chest soundings, and an eyes, ears, and throat examination. After this, the doctor tells Jack he has a bronchial infection, along with a few related minor inflammations. Then she says to Jack that if he will take the medicine she is recommending, azithromycin, he will be cured within a week. This is prediction.

The third phase comes in when Jack picks up his medicine at the pharmacy that afternoon and reads the dosage: take two tablets on day one, followed by one tablet each day for five days. This is prescription.

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Publisher Resources

ISBN: 9781118417089Purchase book