It seems you can’t swing a baseball bat without knocking over three or four people asking for analytics: Text Analytics, Predictive Analytics, Social Media Analytics, Decisiolytics, whatever (Mindshare’s CEO recently coined the term “Decisiolytics.” Your guess is as good as mine). The list seems never ending.
What exactly does everyone mean by “analytics” anyway? For most, I think it refers to the application of arcane mathematical and statistical techniques to mass quantities of numbers. It’s when data geeks and quant freaks in white lab coats pour over reams of data, invoke some sort of mystical incantation, kill a chicken or two, and out pops some kind of interesting “insight” – whatever that is.
Well, that’s all changing. More and more the term “analytics” refers to a packaged-up application that hides the complexity and does the analytics for you, providing the uninitiated workers the ability to take action based on the data. Mindshare’s CoachTM product is a perfect example. Store managers don’t have to know anything about ordinal-logistic-dogeewhatsists. They are directed what to do and they just take action. There was a great article last month that discussed this topic in Information Week:
“What’s Next in Analytics”
“It’s official. The term “analytics” no longer refers only to advanced statistical methods and operational research. It’s now shorthand for what people really want from business intelligence: concise, actionable insight that lets them (1) respond to what’s happening now, and (2) anticipate what will happen in the future, rather than just react to the events of last week or last month. Enter prebuilt analytic applications. As the name suggests, these are off-the-shelf apps, ready-made for specific industries …”
Small, pre-built, easy to consume nuggets of analytic goodness.
Yep. Analytics. Mindshare has it.