This is a review of a chapter from ""Competing on Analytics"-
Signposts of Effective IT for Analytical Competition:
How can we make data more valuable?
- Analysts have direct, nearly instantaneous access to data
- Information workers spend their time analyzing data and understanding its implications rather than collecting and formatting data
- Managers focus on improving processes and business performance, not culling data from laptops, reports and transaction systems
- Data is managed from an enterprise wide perspective throughout its life cycle, from its initial creation to archiving or destruction
- A hypothesis can be quickly analyzed and tested without a lot of manual behind the scenes preparation beforehand
- Managers never argue over whose numbers are accurate
- Both the supply and demand sides of the business rely on forecasts that are aligned and have been developed using a consistent set of data
- High volume, mission critical decision making proceses are highly automated and integrated
- Data is routinely and automatically shared between the customers and suppliers
- Reports and analyses seamlessly integrate and synthesize information from may sources
- Rather than have data warehouse or business intelligence initiatives, companies manage data as a strategic coporate resource in all initiatives
How can we make data more valuable?
- It is correct
- It is complete
- It is current
- It is consistent
- It is in context
- It is controlled
