Analytics, Metrics and Dashboard Process
Transcript: Determine the drivers Report on each driver regularly Tweak the equation Find better fuel Find more efficiency Facilitate the right question Help decide what to predict Assist with data mining Help create an equation Interpret the drivers and weights Find dashboards that predict Tell the story What's the "one" thing? Analytics "They are asking all the wrong questions. And if I say it to anybody, I'm ostracized. I'm a leper. So that's why I'm cagey about this with you." This is where most attempts fall short Dependent Variable (what you're predicting) What data do you have? Where are you going? Part 1 “They are asking all the wrong questions.” Moneyball Flight Plan What data do you need? Analytics, Data Metrics & Dashboards A pilot cares about 4 or 5 gauges, the rest are there "just in case". Can I Help? What does the data tell you? The Right Fuel Monitoring If you know what to predict (dependent variable) then finding what beta weights that "drive" the equation is easy peasy..... BUT Where are you going? Where are you going? Part 2 Location So? If you had magic crystal ball, what would you most like to predict? What keeps you up at nite? What does your boss look at most closely? "People who run ball clubs, they think in terms of buying players. Your goal shouldn't be to buy players, your goal should be to buy wins. And in order to buy wins, you need to buy runs." Data Mining Dashboard Drivers (Dashboard Wannabes) Curly: Do you know what the secret of life is? Curly: This. Mitch: Your finger? Curly: One thing. Just one thing. You stick to that and the rest don't mean *$&%. Mitch: But, what is the "one thing?" Curly: That's what you have to find out. – City Slickers Summary Ask the right question Decide what you want to predict Find the best data to predict Find the right tool to predict Train the right data owners Create a good equation Make the dashboard Continually improve Tools Head count needed? Lifetime value? Customer satisfaction? Department value? Controlling spend? Understanding our customers? Processing the raw materials The Right Fuel If you can make a picture of the situation, then more people will understand. Tell the Story Tips to Get Started Start with your own gold Get a professional data geologist Find the right tools Process the data Flight Plan What's Your Mission? Focus on the data that affects your prediction with the weights provided by analysis Mind mapping Data visualization Graphical facilitation Thought maps
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