Modern Analytics Framework — Industry Approach

Author(s): Saif Ali Kheraj

Originally published on Towards AI.

Analytics Methodologies, Frameworks, and Applications

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In this post, I am going to talk about analytics from an organization’s perspective, mixing in some of my personal experiences and what research says. Let’s start by looking at two ends of the analytics spectrum.

Most organizations or analytics teams focus solely on a data-driven approach. But there are actually two distinct approaches here: one is the popular data-centric approach, where we use big data to tackle problems. The other, less talked about but equally important, is the decision-centric approach.

Data-Centric ApproachThis approach is all about using the power of big data, made possible by advancements in storage and computing power. It focuses on crunching numbers and finding patterns through methods like data mining, machine learning, and AI. Basically, it is about letting the data lead the way to insights.

Here we start with data, then we perform analysis and then insights and then we make decisions.

Decision-Centric ApproachOn the flip side, the decision-centric approach starts with a clear goal: what decision needs to be made? This method brings in subject matter expertise and domain knowledge to define key decision factors and objectives, making it more targeted and purposeful.

Here, we start directly… Read the full blog for free on Medium.

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Published via Towards AI