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The Complete Guide to Business Analytics (Collection) by Thomas H. Davenport

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7. Applying Analytics at Production Scale

James Taylor

One of the most powerful uses of data mining and predictive analytics is to apply these techniques to operational, transactional systems. This means applying analytic models and results on a production scale—to all customers, for all products, and embedded in production transactions. Organizations that succeed in applying analytics at such a scale see tremendous results. The benefit of analytics is applied to every one of a large number of transactions for a powerful multiplicative effect. To make this possible, analytics must be augmented with a family of technologies called automated decision systems or decision management systems.

Some industries use data mining and predictive analytics ...

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