Analytics gives us not just the ability but the imperative to separate our planning activities into two distinct segments – detailed planning that leads to budgets in support of execution, and high-level, analytic-enabled business/scenario planning. My critique of Control Towers in this blog last time led me not only to
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Are retailers suffering a skills shortage when it comes to analytics? Nikki Baird from Retail Systems Research (RSR Group) offers some intriguing observations about the critical analytical talent shortage facing the retail industry in a recent article, “Where Have All the Data Scientists Gone? SAS Analyst Day Report Out.” Her observations
According to entrepreneur Gilad Elbaz, “The world is one big data problem.” And as a big data researcher and writer, Andrew McAfee is staking his career on it. McAfee spoke to a crowd of business and industry executives at The Premier Business Leadership Series in Orlando, FL, to put the topic
From what I've seen, the energy industries appear to be at a tipping point in their interest and adoption of advanced analytics. If there's any question about how analytics can be used to benefit these industries, consider a few examples:. How much demand for electricity will there be and when?
Mark Kindem can thank his parents and brother for getting him started on the road to being a statistician. “My dad was a baseball card guy,” Kindem said. “I used to pore through data as a kid.” Kindem and his brother would line up baseball or basketball cards on the living
Are you missing the “A” in your FP&A (financial planning and analysis)? Maybe missing some of the “P” as well? Are you and your department getting a bit tired of the “FR” gig you seem to have landed? I just got back from chairing last week’s IE Group Financial Innovation
While you might not think that businesses outside the trendy, youth-focused fashion and music markets would have much to learn from the practice of “coolhunting”, there are some key product life cycle principles common to both. Coolhunting is market research aimed at discovering, in their infancy, new trends in youth markets, catching
"Big data" is a big deal for electric utilities. In a smart power grid, when you turn on the lights, you're generating data. When your neighbor plugs in his electric vehicle, he's generating data. When a heat wave causes retailers to crank up the air conditioning, they're generating data. All
Do we ever really get pricing right? Sometimes we do, and some of those times are actually on purpose, but it takes a lot of upstream activities to go right in order for pricing to be optimal as well. Too often pricing is that last variable at our disposal when
Question: What is the maximum level of accuracy with which you can predict the toss of a fair coin? Answer: 50% It does not matter that you’ve set a mandatory minimum forecast accuracy level of 90%, or even 60%. There is no incentive, no bonus, no allocation of restricted stock