Archive for April, 2011

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Business Analytics

April 25, 2011

What is the good word, Señor Sundaram Seshu.  Two things that got Sonia excited this past month were the victory of India’s cricket team, and looking at the dashboard of her new blog from Palam to Idlewild and seeing 46 views on a single day. 

As discussed in my article with Saška, Business Analytics Based On Financial Time Series, dashboards are a key part of presenting results in both business intelligence and business analytics.  Business intelligence refers to the reporting of financial metrics to leaders and decision makers within business organizations through dashboards.  Business analytics is an add-on to business intelligence in which methods and algorithms within the purview of applied math, computer science, data mining, statistics, signal processing, etc. are applied to business-related data and signals for the purpose of prediction.  The blog dashboard that Sonia looks at only reports the number of views.  If the dashboard had analytics, it would also predict views for future times.

The methods for performing predictive analytics in business are no different than those in other application areas, it is just the semantics and units of the data that are different.  The number of runs compiled by India’s cricket team batting second and chasing a target score is basically the same thing as a salesperson pursuing opportunities to attain a quota target.

In the last several years, sports has become a realm of analytics, notably baseball and football, but also many other sports including cricket.  As Peter Keating writes in the May 2 issue of ESPN The Magazine, even mixed martial arts (MMA) and predictive analytics are now coming together.  Fantasy sports have grown up together with sports analytics.  The most recent addition to fantasy sports is fantasy MMA. 

Now that business intelligence and business analytics are seeing greater adoption, is it time for fantasy business?  If Monopoly, Railroad Tycoon, and The Apprentice, then why not fantasy business?

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