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Agile by Design by Rachel Alt-Simmons

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Chapter 2The Analytic Lifecycle

Analytics is an ambiguous and overused term that carries different meanings across business stakeholder communities, technology organizations, and analytic teams. An important starting point for creating a more data-driven culture is to define a common language around it. The common language creates a shared understanding within the organization and helps clarify roles and responsibilities. Once this has been established, it becomes simpler to frame out analytic projects. One tool that can be useful in this process is the analytic value chain, which provides a structure for incorporating analytic projects within a broader business ecosystem. In the center of the value chain sits the analytic development lifecycle (ALDC). The six-stage ADLC approach helps organizations better align to business strategies by identifying engagement points across the stakeholder communities.

What Are Analytics, Anyway?

In many organizations, analytics plays an integral role in the enterprise decision-making process. Credit card companies decide whether to issue you a credit card, and insurers decide whether to issue you a policy—and at what cost! E-tailers anticipate what other products you might like to buy or what coupons and discounts you might respond to. Digital media services predict what movies and music you might like based on “people like you.” More and more, analytics help our organizations make good, profitable decisions that keep customers happy.

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