Business Metrics

Business Metrics (a partial extract from my upcoming book “R for Business Analytics”

Business Metrics are important variables that are collected on a periodic basis to assess the health and sustainability of a business. They should have the following properties-

1) What is a Business Metric-The absence of collection of regular update of the business metric could cause business disruption by incorrect and incomplete decision making.

2) Cost of Business Metrics- The costs of collection, storage and updating of the business metric is less than the opportunity costs of wrong decision making cause by lack of information of that business metric.

3) Continuity in your Business Metrics- The business metrics are continuous in comparing across time periods and business units- if necessary the assumptions for smoothing the comparisons should be listed in the business metric presentation itself.

4) Simplify your Business Metrics– Business metrics can be derived as well from other business metrics. If necessary and to avoid clutter only the most important business metrics should be presented, or the metrics with the biggest deviation from past trends should be mentioned.

5) Normalize your Business Metrics- Scale of the business metric units should be comparable to other business metrics as well as significant to emphasize the difference in numbers.

6) Standardize your Business Metrics– Dimension of business metrics should be increased to enhance comparison and contrasts without enhancing complexity. This means adding an extra dimension for analysis rather than a 2 by 2 comparison, to add time /geography/ employee/business owner as a dimension .

Interview Markus Schmidberger ,Cloudnumbers.com

Here is an interview with Markus Schmidberger, Senior Community Manager for cloudnumbers.com. Cloudnumbers.com is the exciting new cloud startup for scientific computing. It basically enables transition to a R and other platforms in the cloud and makes it very easy and secure from the traditional desktop/server model of operation.

Ajay- Describe the startup story for setting up Cloudnumbers.com

Markus- In 2010 the company founders Erik Muttersbach (TU München), Markus Fensterer (TU München) and Moritz v. Petersdorff-Campen (WHU Vallendar) started with the development of the cloud computing environment. Continue reading “Interview Markus Schmidberger ,Cloudnumbers.com”

Use R for Business- Competition worth $ 20,000 #rstats

All you contest junkies, R lovers and general change the world people, here’s a new contest to use R in a business application

http://www.revolutionanalytics.com/news-events/news-room/2011/revolution-analytics-launches-applications-of-r-in-business-contest.php

REVOLUTION ANALYTICS LAUNCHES “APPLICATIONS OF R IN BUSINESS” CONTEST

$20,000 in Prizes for Users Solving Business Problems with R

 

PALO ALTO, Calif. – September 1, 2011 – Revolution Analytics, the leading commercial provider of R software, services and support, today announced the launch of its “Applications of R in Business” contest to demonstrate real-world uses of applying R to business problems. The competition is open to all R users worldwide and submissions will be accepted through October 31. The Grand Prize winner for the best application using R or Revolution R will receive $10,000.

The bonus-prize winner for the best application using features unique to Revolution R Enterprise – such as itsbig-data analytics capabilities or its Web Services API for R – will receive $5,000. A panel of independent judges drawn from the R and business community will select the grand and bonus prize winners. Revolution Analytics will present five honorable mention prize winners each with $1,000.

“We’ve designed this contest to highlight the most interesting use cases of applying R and Revolution R to solving key business problems, such as Big Data,” said Jeff Erhardt, COO of Revolution Analytics. “The ability to process higher-volume datasets will continue to be a critical need and we encourage the submission of applications using large datasets. Our goal is to grow the collection of online materials describing how to use R for business applications so our customers can better leverage Big Analytics to meet their analytical and organizational needs.”

To enter Revolution Analytics’ “Applications of R in Business” competition Continue reading “Use R for Business- Competition worth $ 20,000 #rstats”

Contest : 2 free passes to Predictive Analytics World

I got some good news from the fine people at Predictive Analytics World.

 you qualify for 2 free passes to the PAW NYC event October 16-20, 2011.  I will be sending you a code to use for registration to receive these passes within the next couple of days.

If you cannot attend our PAW NYC event, please feel free to use these two free passes as a promotional tool within your blog.

Now I have been partnering with PAW for a long time, so it is nice to have free passes. I am grateful for their support of this blog. Therein lies my dilemma. I am in India, and a return ticket from NYC to India costs 1100$. Unless something drastic happens , I dont see myself with that kind of travel money.

Ergo.

I am offering two free passes to Predictive Analytics World . http://predictiveanalyticsworld.com/

All you need to do is – ahem- cough-

  1. like the Facebook Page of Decisionstats.  https://www.facebook.com/pages/Decisionstats/217450141605435 OR
  2.  Add me to a Google circle https://plus.google.com/116302364907696741272/posts OR
  3. Follow me on Twitter https://twitter.com/#!/0_h_r_1

AND


  1. Read one of my poems at my poetry blog at http://poemsforkush.wordpress.com/ and leave a comment with your email id please . It’s a promotion for my next book “Poets and Hackers” due for release in 2 weeks.
The 2 free passes are for any 2 days of the PAW NYC event.  This free pass may not be used for Text Analytics World conference being held the same week.  Please have your Contest winners use the Free Code:  XXXXXXXX.  This code will be good for two uses in registering. 
Thats ‘it. Two free passes , and go for it if you are around NYC in October. NY is a lovely place and I am wearing my red FDNY T shirt as I am typing this.

What do you get?

One of these –http://www.predictiveanalyticsworld.com/newyork/register.php (details awaited!) to

http://www.predictiveanalyticsworld.com/newyork/2011/

Predictive Analytics World Header Image

 

 

Search Engine Advertising sweet spot for arbitrage.

Assume I am a blogger using both Adsense and Adwords.

Suppose Adwords costs me X dollars per click, and Adsense pays me Y dollars per click.

Then a unique arbitrage opportunity would arise if

Y times CTR on my blog > X times CTR on my Ad Campaign

Is it possible. Theoretically yes? Long Tail of Internet yes.

However since there is a lag of time in which the Rates would converge , the Adsense rate would go lower or Adwords rate would go higher

Is there a tool that you can use to pump keywords with short times arbitrage opportunities , much like trading algols and quants do in finance.

Just asking !

 Hint- Its a trick math puzzle 🙂

 

Interview Mike Boyarski Jaspersoft

Here is an interview with Mike Boyarski , Director Product Marketing at Jaspersoft

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the largest BI community with over 14 million downloads, nearly 230,000 registered members, representing over 175,000 production deployments, 14,000 customers, across 100 countries.

Ajay- Describe your career in science from Biology to marketing great software.
Mike- I studied Biology with the assumption I’d pursue a career in medicine. It took about 2 weeks during an internship at a Los Angeles hospital to determine I should do something else.  I enjoyed learning about life science, but the whole health care environment was not for me.  I was initially introduced to enterprise-level software while at Applied Materials within their Microcontamination group.  I was able to assist with an internal application used to collect contamination data.  I later joined Oracle to work on an Oracle Forms application used to automate the production of software kits (back when documentation and CDs had to be physically shipped to recognize revenue). This gave me hands on experience with Oracle 7, web application servers, and the software development process.
I then transitioned to product management for various products including application servers, software appliances, and Oracle’s first generation SaaS based software infrastructure. In 2006, with the Siebel and PeopleSoft acquisitions underway, I moved on to Ingres to help re-invigorate their solid yet antiquated technology. This introduced me to commercial open source software and the broader Business Intelligence market.  From Ingres I joined Jaspersoft, one of the first and most popular open source Business Intelligence vendors, serving as head of product marketing since mid 2009.
Ajay- Describe some of the new features in Jaspersoft 4.1 that help differentiate it from the rest of the crowd. What are the exciting product features we can expect from Jaspersoft down the next couple of years.
Mike- Jaspersoft 4.1 was an exciting release for our customers because we were able to extend the latest UI advancements in our ad hoc report designer to the data analysis environment. Now customers can use a unified intuitive web-based interface to perform several powerful and interactive analytic functions across any data source, whether its relational, non-relational, or a Big Data source.
 The reality is that most (roughly 70%) of todays BI adoption is in the form of reports and dashboards. These tools are used to drive and measure an organizations business, however, data analysis presents the most strategic opportunity for companies because it can identify new opportunities, efficiencies, and competitive differentiation.  As more data comes online, the difference between those companies that are successful and those that are not will likely be attributed to their ability to harness data analysis techniques to drive and improve business performance. Thus, with Jaspersoft 4.1, and our improved ad hoc reporting and analysis UI we can effectively address a broader set of BI requirements for organizations of all sizes.
Ajay-  What do you think is a good metric to measure influence of an open source software product – is it revenue or is it number of downloads or number of users. How does Jaspersoft do by these counts.
Mike- History has shown that open source software is successful as a “bottoms up” disrupter within IT or the developer market.  Today, many new software projects and startup ventures are birthed on open source software, often initiated with little to no budget. As the organization achieves success with a particular project, the next initiative tends to be larger and more strategic, often displacing what was historically solved with a proprietary solution. These larger deployments strengthen the technology over time.
Thus, the more proven and battle tested an open source solution is, often measured via downloads, deployments, community size, and community activity, usually equates to its long term success. Linux, Tomcat, and MySQL have plenty of statistics to model this lifecycle. This model is no different for open source BI.
The success to date of Jaspersoft is directly tied to its solid proven technology and the vibrancy of the community.  We proudly and openly claim to have the largest BI community with over 14 million downloads, nearly 230,000 registered members, representing over 175,000 production deployments, 14,000 customers, across 100 countries.  Every day, 30,000 developers are using Jaspersoft to build BI applications.  Behind Excel, its hard to imagine a more widely used BI tool in the market.  Jaspersoft could not reach these kind of numbers with crippled or poorly architected software.
Ajay- What are your plans for leveraging cloud computing, mobile and tablet platforms and for making Jaspersoft more easy and global  to use.

Analytics 2011 Conference

From http://www.sas.com/events/analytics/us/

The Analytics 2011 Conference Series combines the power of SAS’s M2010 Data Mining Conference and F2010 Business Forecasting Conference into one conference covering the latest trends and techniques in the field of analytics. Analytics 2011 Conference Series brings the brightest minds in the field of analytics together with hundreds of analytics practitioners. Join us as these leading conferences change names and locations. At Analytics 2011, you’ll learn through a series of case studies, technical presentations and hands-on training. If you are in the field of analytics, this is one conference you can’t afford to miss.

Conference Details

October 24-25, 2011
Grande Lakes Resort
Orlando, FL

Analytics 2011 topic areas include: