Business Analytics Projects

As per me, Analytics Projects get into these four  broad phases-

  • Business Problem  PhaseWhat needs to be done?
  1. Increase Revenues
  2. Cut Costs
  3. Investigate Unusual Events
  4. Project Timelines
  • Technical Problem PhaseTechnical Problems in Project Execution 
  1. Data Availability /Data Quality/Data Augmentation Costs
  2. Statistical -(Technique based approach) , Hypothesis Formulation,Sampling, Iterations
  3. Programming-(Tool based approach) Analytics Platform Coding (Input, Formats,Processing)
  • Technical Solution PhaseProblem Solving using the Tools and Skills Available 
  1. Data Cleaning /Outlier Treatment/Missing Value Imputation
  2. Statistical -(Technique based approach) Error Minimization, Model Validation, Confidence Levels
  3. Programming-(Tool based approach) Analytics Platform Coding (Output, Display,Graphs)
  • Business Solution PhasePut it all together in a word document, presentation and/or spreadsheet
  1. Finalized- Forecasts  , Models and Data Strategies
  2. Improvements  in existing processes
  3.  Control and Monitoring of Analytical Results post Implementation
  4. Legal and Compliance  guidelines to execution
  5. (Internal or External) Client Satisfaction and Expectation Management
  6. Audience Feedback based on presenting final deliverable to broader audience

Author: Ajay Ohri

http://about.me/ajayohri

2 thoughts on “Business Analytics Projects”

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