“It is a capital mistake to theorize before one has data.”
—Sherlock Holmes, A Study in Scarlett (Sir Arthur Conan Doyle)
Before any data can be used in business analytics (BA), some issues that need to be properly addressed and consistently managed include data integration, quality, security, privacy, governance, and data preparation and analysis. These data issues can determine whether a company’s strategy in leveraging analytics succeeds or fails.
The power of today’s data rarely resides in a single data source. The real insights come when multiple data from diverse sources can be integrated together. For example, a bank should be able to detect a potential attrition problem when ...