Alok Ranjan's List: analytics

• Stored Process Samples
• Stored Process Samples

• Creating and using formats and format libraries in SAS

• Validating your information with text analytics: a new way to substantiate the structured data
• The old saying "garbage in, garbage out" continues to hold true.

• Business Analytics Best Practices

• I am fascinated about how and why poor decisions are made.
• “Smart people make poor decisions because the mental software that we humans inherited from our ancestors isn’t designed to cope with the complexity of modern day problems and systems. In short, smart people, like everyone else, face two major obstacles to making good decisions. The first obstacle is the brain, which evolved over millions of years to make decisions unlike what we face in modern life. The second obstacle is the growing complexity of the world in which we live.”
• Decisions by guessing versus with analytics
• Thinking, Fast and Slow by Dan Kahneman
• A problem Kahneman points out is that System 2 thinking (slow) is easily distracted and hard to engage and that System 1 thinking (fast) is wrong as often as it is right
• analytics, decision making

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• Analytics – just a skill, or a profession?
• The use of analytics that include statistics is a skill that is gaining mainstream value due to the increasingly thinner margin for decision error.
• Today many businesspeople don’t really know what predictive modeling, forecasting, design of experiments or mathematical optimization mean or do, but over the next 10 years, use of these powerful techniques will have to become mainstream, just as financial analysis and computers have, if businesses want to thrive in a highly competitive and regulated marketplace. Executives, managers and employee teams who do not understand, interpret and leverage these assets will be challenged to survive.
• In Babson College Professor Tom Davenport’s popular book, Competing on Analytics: The New Science of Winning, he makes the case that increasingly, the primary source of attaining a competitive advantage will be an organization’s competence in mastering all flavors of analytics

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• What is common about Beethoven’s interest in heroics and champion-like project managers who take on the challenge to implement business analytics? It is these three heroic phases: crisis, struggle, and triumph.

• People define themselves through their choices
• The studies just described come from the book The Art of Choices written by Sheena Iyengar, a professor at Columbia University.

• One described liking to hire people with an entrepreneurial mindset—the ones who will be willing to promote their ideas to fruition.

   

  Another looks for those who have a forensic mindset—the ones who don’t stop investigating when they get an answer but work to understand why that’s the answer.
• A key skill is being able to communicate analytic findings to nontechnical people

• These SAS statistics tutorials briefly explain the use and interpretation of standard statistical analysis techniques for Medical, Pharmaceutical, Clinical Trials, Marketing or Scientific Research.

• The process of market-driven demand management includes sensing market conditions based on demand signals, then shaping demand using programing like price optimization, trade promotion planning, new product launch plan alignment, and social/digital/mobile. convergence