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Analytics<br /> Driving Better Business Decisions<br /> November/DECEMber 2010<br /> <br /> Right on Target<br /> • ANALYTICS JOURNEY: Descriptive, predictive, prescriptive analytics<br /> • QUANT CONSULTING: Five myths every new practitioner needs to know<br /> • COLLECTIONS ANALYTICS: How to build it into a competitive advantage<br /> <br /> ALSO INSIDE:<br /> • AGILITY WINS: The importance of rapidly adaptive decision-making<br /> • PREDICTIVE ANALYTICS: Practical ways to drive customer field service<br /> • DECISION ANALYSIS: Software survey of 36 packages from 24 vendors<br /> <br /> Analyze This!<br /> Cautionary tale: Classic mistakes doom promising hi-tech startup.<br /> By Vijay MehrotraEat, Edit, Learn<br /> <br /> In their 2007 book, “Competing on Analytics: The New Science of Winning,” Tom Davenport and Jeann<a title="Analytics, November/December 2010 page 1" href="http://viewer.zmags.com/publication/c5e7ab79?page=1">AnalyticsDriving Better Business DecisionsNove</a> AnalyticsDriving Better Business DecisionsNove<a title="Analytics, November/December 2010 page 2" href="http://viewer.zmags.com/publication/c5e7ab79?page=2">Eat, Edit, LearnIn their 2007 book, “Competing</a> Eat, Edit, LearnIn their 2007 book, “Competing<a title="Analytics, November/December 2010 page 3" href="http://viewer.zmags.com/publication/c5e7ab79?page=3">ContentsAnalyticsDRIVING BETTER BUSINESS DECIS</a> ContentsAnalyticsDRIVING BETTER BUSINESS DECIS<a title="Analytics, November/December 2010 page 4" href="http://viewer.zmags.com/publication/c5e7ab79?page=4">AnalyticsBuilding Better Business Strategies</a> AnalyticsBuilding Better Business Strategies<a title="Analytics, November/December 2010 page 5" href="http://viewer.zmags.com/publication/c5e7ab79?page=5">Profit CenterKeeping analytics professionals</a> Profit CenterKeeping analytics professionals<a title="Analytics, November/December 2010 page 6" href="http://viewer.zmags.com/publication/c5e7ab79?page=6">Profit CenterBusinesses solve problems they need</a> Profit CenterBusinesses solve problems they need<a title="Analytics, November/December 2010 page 7" href="http://viewer.zmags.com/publication/c5e7ab79?page=7">Profit CenterSome companies shy away from sendin</a> Profit CenterSome companies shy away from sendin<a title="Analytics, November/December 2010 page 8" href="http://viewer.zmags.com/publication/c5e7ab79?page=8">Analyze This!Classic mistakes doom promising s</a> Analyze This!Classic mistakes doom promising s<a title="Analytics, November/December 2010 page 9" href="http://viewer.zmags.com/publication/c5e7ab79?page=9">Analyze This!There is no reliable textbook on ho</a> Analyze This!There is no reliable textbook on ho<a title="Analytics, November/December 2010 page 10" href="http://viewer.zmags.com/publication/c5e7ab79?page=10">ForumExpanding your organization’s analytic ba</a> ForumExpanding your organization’s analytic ba<a title="Analytics, November/December 2010 page 11" href="http://viewer.zmags.com/publication/c5e7ab79?page=11">ForumTechnology in support of agility should rea</a> ForumTechnology in support of agility should rea<a title="Analytics, November/December 2010 page 12" href="http://viewer.zmags.com/publication/c5e7ab79?page=12">DEcision-makingThe Analytics JourneyAn IBM vie</a> DEcision-makingThe Analytics JourneyAn IBM vie<a title="Analytics, November/December 2010 page 13" href="http://viewer.zmags.com/publication/c5e7ab79?page=13">analytics JOURNEY• Information access: This firs</a> analytics JOURNEY• Information access: This firs<a title="Analytics, November/December 2010 page 14" href="http://viewer.zmags.com/publication/c5e7ab79?page=14">Analytics Journeyunderstood type of anal</a> Analytics Journeyunderstood type of anal<a title="Analytics, November/December 2010 page 15" href="http://viewer.zmags.com/publication/c5e7ab79?page=15">Analytics JourneyOrganizations that undertake a </a> Analytics JourneyOrganizations that undertake a <a title="Analytics, November/December 2010 page 16" href="http://viewer.zmags.com/publication/c5e7ab79?page=16">Analytics JourneyPredictive analysis applies a</a> Analytics JourneyPredictive analysis applies a<a title="Analytics, November/December 2010 page 17" href="http://viewer.zmags.com/publication/c5e7ab79?page=17">Analytics Journeythat repeats over and over ag</a> Analytics Journeythat repeats over and over ag<a title="Analytics, November/December 2010 page 18" href="http://viewer.zmags.com/publication/c5e7ab79?page=18">Analytics JourneyBeginning the process of appl</a> Analytics JourneyBeginning the process of appl<a title="Analytics, November/December 2010 page 19" href="http://viewer.zmags.com/publication/c5e7ab79?page=19">Analytics Journeychain network design/optimizati</a> Analytics Journeychain network design/optimizati<a title="Analytics, November/December 2010 page 20" href="http://viewer.zmags.com/publication/c5e7ab79?page=20">Smarter technology for a Smarter Planet:The </a> Smarter technology for a Smarter Planet:The <a title="Analytics, November/December 2010 page 21" href="http://viewer.zmags.com/publication/c5e7ab79?page=21">Reality CheckFive myths of quant consultingC</a> Reality CheckFive myths of quant consultingC<a title="Analytics, November/December 2010 page 22" href="http://viewer.zmags.com/publication/c5e7ab79?page=22">Quant Consultingconsulting does not escape thi</a> Quant Consultingconsulting does not escape thi<a title="Analytics, November/December 2010 page 23" href="http://viewer.zmags.com/publication/c5e7ab79?page=23">Quant ConsultingIf you have fantasies of buyin</a> Quant ConsultingIf you have fantasies of buyin<a title="Analytics, November/December 2010 page 24" href="http://viewer.zmags.com/publication/c5e7ab79?page=24">Real-world applicationsPredictive analytics in</a> Real-world applicationsPredictive analytics in<a title="Analytics, November/December 2010 page 25" href="http://viewer.zmags.com/publication/c5e7ab79?page=25">Predictive Analyticsin line with what the seco</a> Predictive Analyticsin line with what the seco<a title="Analytics, November/December 2010 page 26" href="http://viewer.zmags.com/publication/c5e7ab79?page=26">Predictive AnalyticsAdvances in predictive a</a> Predictive AnalyticsAdvances in predictive a<a title="Analytics, November/December 2010 page 27" href="http://viewer.zmags.com/publication/c5e7ab79?page=27">Predictive AnalyticsCustomer satisfaction and cu</a> Predictive AnalyticsCustomer satisfaction and cu<a title="Analytics, November/December 2010 page 28" href="http://viewer.zmags.com/publication/c5e7ab79?page=28">Predictive Analyticsrecommend this company to </a> Predictive Analyticsrecommend this company to <a title="Analytics, November/December 2010 page 29" href="http://viewer.zmags.com/publication/c5e7ab79?page=29">Predictive AnalyticsPeople are the key to runn</a> Predictive AnalyticsPeople are the key to runn<a title="Analytics, November/December 2010 page 30" href="http://viewer.zmags.com/publication/c5e7ab79?page=30">Predictive Analyticsoverall costs: initial con</a> Predictive Analyticsoverall costs: initial con<a title="Analytics, November/December 2010 page 31" href="http://viewer.zmags.com/publication/c5e7ab79?page=31">Predictive AnalyticsThe beauty of predictive a</a> Predictive AnalyticsThe beauty of predictive a<a title="Analytics, November/December 2010 page 32" href="http://viewer.zmags.com/publication/c5e7ab79?page=32">Business StrategiesCollections AnalyticsHow </a> Business StrategiesCollections AnalyticsHow <a title="Analytics, November/December 2010 page 33" href="http://viewer.zmags.com/publication/c5e7ab79?page=33">Collections AnalyticsAn organization with a st</a> Collections AnalyticsAn organization with a st<a title="Analytics, November/December 2010 page 34" href="http://viewer.zmags.com/publication/c5e7ab79?page=34">Collections AnalyticsAnalytical models can pre</a> Collections AnalyticsAnalytical models can pre<a title="Analytics, November/December 2010 page 35" href="http://viewer.zmags.com/publication/c5e7ab79?page=35">Collections AnalyticsAnalytics helps organizat</a> Collections AnalyticsAnalytics helps organizat<a title="Analytics, November/December 2010 page 36" href="http://viewer.zmags.com/publication/c5e7ab79?page=36">OODA LoopAgility winsMilitary strategy studi</a> OODA LoopAgility winsMilitary strategy studi<a title="Analytics, November/December 2010 page 37" href="http://viewer.zmags.com/publication/c5e7ab79?page=37">Agility WinsAdaptation to changing conditions </a> Agility WinsAdaptation to changing conditions <a title="Analytics, November/December 2010 page 38" href="http://viewer.zmags.com/publication/c5e7ab79?page=38">Agility WinsBoyd is best known for the OODA lo</a> Agility WinsBoyd is best known for the OODA lo<a title="Analytics, November/December 2010 page 39" href="http://viewer.zmags.com/publication/c5e7ab79?page=39">Agility WinsIn many cases, the point to attack</a> Agility WinsIn many cases, the point to attack<a title="Analytics, November/December 2010 page 40" href="http://viewer.zmags.com/publication/c5e7ab79?page=40">Agility Wins• “In opposite fashion we must emp</a> Agility Wins• “In opposite fashion we must emp<a title="Analytics, November/December 2010 page 41" href="http://viewer.zmags.com/publication/c5e7ab79?page=41">Software SurveyDecision AnalysisVisualizatio</a> Software SurveyDecision AnalysisVisualizatio<a title="Analytics, November/December 2010 page 42" href="http://viewer.zmags.com/publication/c5e7ab79?page=42">Decision Analysis=to an online questionnaire t</a> Decision Analysis=to an online questionnaire t<a title="Analytics, November/December 2010 page 43" href="http://viewer.zmags.com/publication/c5e7ab79?page=43">Decision AnalysisAll of the software in the su</a> Decision AnalysisAll of the software in the su<a title="Analytics, November/December 2010 page 44" href="http://viewer.zmags.com/publication/c5e7ab79?page=44">Decision AnalysisThe lesson is obvious to deci</a> Decision AnalysisThe lesson is obvious to deci<a title="Analytics, November/December 2010 page 45" href="http://viewer.zmags.com/publication/c5e7ab79?page=45">Meeting PreviewINFORMS introduces health care </a> Meeting PreviewINFORMS introduces health care <a title="Analytics, November/December 2010 page 46" href="http://viewer.zmags.com/publication/c5e7ab79?page=46">Thinking AnalyticallyBridges to SomewhereB</a> Thinking AnalyticallyBridges to SomewhereB<a title="Analytics, November/December 2010 page 47" href="http://viewer.zmags.com/publication/c5e7ab79?page=47">Last WordDid Nobel Prize work wreck financial </a> Last WordDid Nobel Prize work wreck financial <a title="Analytics, November/December 2010 page 48" href="http://viewer.zmags.com/publication/c5e7ab79?page=48">Last WordHad the Swedes issued a loud statemen</a> Last WordHad the Swedes issued a loud statemen