/home/leansigm/public_html/components/com_easyblog/services

SigmaWay Blog

SigmaWay Blog tries to aggregate original and third party content for the site users. It caters to articles on Process Improvement, Lean Six Sigma, Analytics, Market Intelligence, Training ,IT Services and industries which SigmaWay caters to

Discovery Analytics: Hacking or R&D

There had been a misconception that discovery analytics is hacking. Every discovery process involves going through some data, analyzing it, making some conclusion. So why would some people judge it as Hacking? Highly prioritized business problems that occur in mind led to discovery process. After having some discussion the major component which addresses the problem is analytics. Analytics brings up the new ideas that could be solution to the business problems. One can have analytics as the strategic component of his business; just the requirement is that he has to invest in analytics like other components say core products and services that his company provides. Discovery analytics cannot be considered as hacking than any other research and development activities are. But truly speaking both of them are the same. The products sold in the market have to go through some background processes that are invisible to buyers. Huge investment, many trials and experiments are required to get a finished product. Discovery analytics are much similar to that. Not all attempts will give appropriate results, but if choosing the right doors it will result in high level of strategic value. Most of the people are familiar with R&D because it is viewed as rational, scientific, disciplined approach to developing new ideas and products. An analytics R&D function can be built just by letting few number of human and technology resources to address only a few critical business problems. When you get positive results, apply it to more number of problems. If every thing goes in right direction then we will get a stable and well functioning analytics research and development function. Read more at:http://www.smartdatacollective.com/billfranks/329559/discovery-analytics-it-s-not-hacking-it-s-rd

Rate this blog entry:
Predictive analytics revolutionizing the healthcar...
Why is Efficient Data Management Required?

Related Posts

 

Comments

No comments made yet. Be the first to submit a comment
Already Registered? Login Here
Guest
Friday, 26 April 2024
If you'd like to register, please fill in the username, password and name fields.

Sigma Connect

sigmaway forums

Forum

Raise a question

Access Now

sigmaway blogs

Blogs

Blog on cutting edge topics

Read More

sigmaway events

Events

Hangout with us

Learn More

sigmaway newsletter

Newsletter

Start your subscription

Signup Now

Sign up for our newsletter

Follow us