SCTR7: Data Science and Analytics

Business analytics model risk (part 0 of 5): framing model risk – the complexity genie and the challenge of deciding on decision models Introduction to a series of five articles on model risk Here we introduce a series of five articles seeking to frame, define, and categorize business analytics model risk.  The intention is to […]

PART OF A SERIES ON ADOPTING ANALYTICS CULTURE: 1 of 7 LINK TO HEADER ARTICLE What does change management have to do with business analytics? Along with feverish interest in business analytics (BA) and ‘Big Data’ has been an interest in how organizations can adopt ‘analytics culture’ to evolve what has been called ‘analytics maturity’ […]

Blog posting from INFORMS (Institute for Operations Research and the Management Sciences) Conference on Business Analytics April 2013 in San Antonio, Texas Part of the pleasure, and indeed a good part of the value, of attending a professional conference such INFORMS (Institute for Operations Research and the Management Sciences) is the informal discussions and exchanges […]

Recent research has suggested that political and cultural organizational factors are the greatest challenge in adopting advanced decision analytics programs (articles referenced below).  ‘Analytics culture’ is framed as being a complex of: 1) fact-driven leadership, 2) expertise (tools and skills), and 3) processes (linking analytical insight to strategy and operational decision making). Critics and commentators […]

It is interesting to observe that it is increasingly difficult to follow a linear decision process where complex institutional projects and initiatives are involved.  We see that there are growing risks and an accompanying tendency to fail when decisions are driven too quickly.  Likewise, when allowed free-reign, decision processes have a tendency to return to […]