Data Analytics for Business Owners — How Analytics Can Add Value to Your Company

Data Analytics for Business Owners — How Analytics Can Add Value to Your Company

Although business owners today can use open-source code and inexpensive laptops to obtain and analyze data to assist in decision-making, the looming challenge is in knowing what to do next.

To help answer this question for Executive Forums Silicon Valley members, Carrie Beam, Ph.D., an expert in data analytics, led an easy-to-grasp session for members at recent monthly forums.

Using the analogy of a horse, car, and airplane, Carrie shared first on the Levels of Analytics:?

  • Horse – Descriptive Analytics
  • Car – Predictive Analytics
  • Airplane – Prescriptive Analytics

These types of analytics explain “what happened?”, “what will happen?”, and “what should we do about it?”

In a fun, interactive session, Carrie then demonstrated how each type of analytics can add value to a company.?

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My biggest takeaway that Carrie shared is that with data analytics, “the art is knowing what to do.”

  • Framing the question
  • Determining which technique will answer the questions you have
  • Determining how to put the data into the algorithm
  • Knowing how to read the data when it comes out of the algorithm

Carrie has mastered the “art” of what to do next! She is an award-winning consultant in the area of data analytics.?

I highly recommend Carrie as an engaging, informative consultant and speaker who will bring value to your organization. For a custom analysis for your business, please reach out to Carrie Beam (925-285-1977, [email protected]).


#carriebeam #datanalytics #efsv #dataanalyticsexpert

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