Analytics, part of triumvirates ?

Today's business world is dominated by one of the loosely used yet powerful tool called analytics. Does the concept of Analytics will fetch a meaning had it not not been supported by a triumvirates of Data and connectivity?

Is it not part of the whole process as mentioned above, objectively yes. Are today's executives are giving the importance for generating Data and the science behind it. To say more than the understanding that is expected out of it, They straight away jump into the loosely collected and knitted datas and a non meaningful connecting process either due to lack of knowledge or the cost and the time involved in building the means, with the result they end up in some what undone exercise in my view.

So, to have the proper analytics done to take or lead for taking a meaningful decisions, modern day executives have to have a proper understanding of the triumvirates, does the business or the environment can afford it, had the needs of so called process put in place to collect the datas and establish the correct connectivity in a meaningful manner, to be purposefully evaluated against the objectives of the ultimate analytics exercise. Had proper capacity building and the resources in sufficient terms are not allocated the resultant analytical outcome might tend to make or lead to an other wise an undesirable decisions or conclusions.

So, where one needs to start.

First, establish the purpose

Next, establish the relevance of the datas that needs to be collected

Next, evaluate the infrastructure or the resources that's needed to collate the datas

Next, establish the experts with sufficient knowledge and sources are identified to establish the connectivity of the datas that are collected to collate in a meaning full manner

Next, Split the datas collected and collated, in other words connected in a meaningful lots for ease of comprehension or understanding.

Finally, have the smaller lots or information packs are analyzed and arranged in a meaningful manner against the defined purpose, might be it is one off or a continuous analytics activities depending on the necessity. In all the exercise for the informations to stay relevant, ensure that a proper time lines are established for each of the activity/ies.

These process once laid down and followed in a comprehensive manner, will definitely fetch the values for the decisions on hand, leave aside the formulas which are pretty much settled in nature.