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Follow on Google News | Top 10 Big Data Analytics TipsAnderson Analytics, developers of Next Generation text analytics software platform OdinText, recently interviewed analytics experts from companies like MasterCard, Google and L’Oreal Paris, speaking at the Useful Business Analytics Summit in Boston
By: Data driven business 1. 1. Keep It Simple (10 times more so than is necessary to get your point across). Alex Uher at L’Oreal Paris advises: “Keep it simple. Ridiculously simple. Ten times more simple than what you think necessary. Just about then, you are actually getting your point across in a way that people are starting to follow you”. 2. 2. Hypothesize/ 3. 3. Don’t Assume Data is Good – Check/Validate! 4. 4. Automate repeat tasks & Carve out time to go exploring Jonathan Isernhagen at Travelocity believes that “Automate anything you do more than once. It’s very easy to fill your time with routine pulls of data which lie just beyond the reach of the visualization tools available to business stakeholders” 5. 5. Set a Data Strategy – don’t just collect data for the sake of collecting it As Farouk Ferchichi at Toyota Financial Servicessays: 6. 6. In a rapidly expanding field, work with people on the leading edge As per Anthony Palella at Angies List: “Work with people who are able to work on the leading edge …the people who are helping expand the envelope”. 7. 7. Be a Skeptic about models etc. Sofia Freyder at MasterCard says: “Double check your results using data from different sources. Make sure it makes sense. In case of discrepancies use it directionally. Reach out to experts to obtain their opinion” 8. 8. Look for the pragmatic and cost effective solutions Deepak Tiwari makes an example: “you can probably do machine learning and neural networks to solve a lot of problems but a linear regression might sometimes be enough”. 9. 9. Don’t torture Data – in the end it will confess 10. 10. Think like a Business Owner – what would you like to know? Read detailed tips here: http://www.datadrivenbiz.com/ End
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