Last month, I wrote about why simply making predictions isn’t enough to drive value with analytics. I made the case that behind stories of failed analytic initiatives, there is often a lack of action to take the predictions and turn them into something valuable.
It ends up that identifying and then taking the right action often leads to additional requirements for even more complex analyses beyond the initial effort to get to the predictions! Let’s explore what that means.Identifying The Action Is The Next Step Once I have a prediction, simulation, or forecast, the next step is to identify what action is required to realize the potential value uncovered.
Author: Bill Franks