Business Analytics Defined

In a recent Information Management article on Business Analytics Jane Griffin of Deloitte Consulting LLP provides her definition of the term.  She breaks Business Analytics into four disciplines: analytics, performance management, business intelligence, and data management.

The article goes on to describe each of these disciplines. I think Ms. Griffin does a great job in this article of describing all aspects of business analytics. Let’s face it; you can get a different definition of new and emerging areas from just about anyone you talk to. But at the end of the day, if you can’t grasp it, you’re not likely to invest your time in it.

With her definition, Ms. Griffin takes us from the tough work of managing data, to the actionable insight that results from advanced analysis. In the middle, there is the traditional reporting, analysis and performance management. I really like the way she describes the shift from answering the question "What do I need to do?" to answering the more complex question of "What do I need to know?” Her use of the term “foresight” is right on the mark. Advanced analytics is all about predicting future outcomes, and foresight is a great way to describe the outcome.

The enherent framework aligns very closely with this thinking and you can review it here. You can read Ms Griffin’s article titled “Clearing the Confusion” here.