Augmented Analytics

Augmented Analytics

by Willi Weber, Tobias Zwingmann
Released May 2024
Publisher(s): O'Reilly Media, Inc.
ISBN: 9781098151720

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Book description

Augmented Analytics isn't just another book on data and analytics; it's a holistic resource for reimagining the way your entire organization interacts with information to become insight-driven.

Moving beyond traditional, limited ways of making sense of data, Augmented Analytics provides a dynamic, actionable strategy for improving your organization's analytical capabilities. With this book, you can infuse your workflows with intelligent automation and modern artificial intelligence, empowering more team members to make better decisions.

You'll find more in these pages than just how to add another forecast to your dashboard; you'll discover a complete approach to achieving analytical excellence in your organization.

You'll explore:

  • Key elements and building blocks of augmented analytics, including its benefits, potential challenges, and relevance in today's business landscape
  • Best practices for preparing and implementing augmented analytics in your organization, including analytics roles, workflows, mindsets, tool sets, and skill sets
  • Best practices for data enablement, liberalization, trust, and accessibility
  • How to apply a use-case approach to drive business value and use augmented analytics as an enabler, with selected case studies

    This book provide a clear, actionable path to accelerate your journey to analytical excellence.

Publisher resources

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Table of contents

  1. Foreword
  2. Preface
    1. Who Should Read This Book?
    2. Learning Objectives
    3. Navigating This Book
    4. Conventions Used in This Book
    5. O’Reilly Online Learning
    6. How to Contact Us
    7. Acknowledgments
  3. 1. The Business Transformation
    1. Why Businesses Are Transforming
      1. Factor 1: The Speed of Change
      2. Factor 2: The Convergence of Multiple Technologies
      3. Factor 3: The Importance of Data
      4. Factor 4: Changing Consumer Behavior and Customer Centricity
    2. Industries Heavily Impacted by Digital Transformation
    3. The Consequences for Your Business
      1. There’s No Analytics Transformation Without Augmented Analytics
      2. A Data-Driven Culture
      3. The “People Problem” and the Limits of Upskilling
    4. Conclusion
  4. 2. The Analytics Problem
    1. Finding Your Analytics Purpose
      1. Competition and Customer Expectations
      2. Operational Efficiency
      3. Availability and User Friendliness
      4. Innovation
      5. Regulatory Compliance
      6. How to Start Your Analytics Journey
    2. Industry Examples
      1. Ecommerce
      2. Healthcare
      3. Manufacturing
      4. Financial Services
      5. Government
      6. Commercial Insurance
    3. The Concept of Analytical Maturity
    4. Determine Your Current—and Future—Data Maturity
      1. Stage 1: Data Reactive
      2. Stage 2: Data Active
      3. Stage 3: Data Progressive
      4. Stage 4: Data Fluent
    5. Conclusion
  5. 3. Understanding Augmented Analytics
    1. Definition
    2. The Five I’s of Augmented Analytics
    3. Overcoming the Limitations of Traditional Analytics Approaches
    4. Augmented Workflows
    5. The Benefits of Augmented Analytics
      1. AA Gives Nonexpert Users a Better Experience
      2. Automated Integration Provides More Complete Insights
      3. AA Gives Faster, More Efficient Insights
      4. Standardization Reduces Human Errors and Bias for Better Insights
      5. AA Tools Are Easier to Scale Up
      6. AA Reaches Further Afield to Generate Unexpected Insights
    6. Overcoming Bias
    7. Key Enablers of Augmented Analytics
      1. Automation and AI
      2. Artificial Intelligence: The Five Archetypes
    8. The Limitations of Augmented Analytics
    9. The Challenges of Augmented Analytics
    10. Conclusion
  6. 4. Preparing People and the Organization for Augmented Analytics
    1. Tailoring Augmented Analytics for Different Organizational Roles
      1. Analytics Leader
      2. Analytics Translator
      3. Analytics User
      4. Analytics Professional
      5. Analytics Transformation Manager
      6. Summary of Key Roles
    2. The Center of Excellence
      1. Creating a Center of Excellence
      2. Approaches to Organizing a CoE
    3. Driving Transformational Change with the Influence Model
      1. Fostering Understanding and Conviction
      2. Reinforcing with Formal Mechanisms
      3. Developing Talent and Skills
      4. Role Modeling
    4. Cultivating a Data-Literate Culture
      1. Cultivating Analytics Awareness
      2. Storytelling with Data
      3. Embracing Data-Driven Management
      4. Leading in the Age of AI
    5. The Enablement Program
      1. Training Formats for Analytics Leaders
      2. Training Formats for Analytics Translators
      3. Data Literacy Training
      4. Technical Training
    6. Conclusion
  7. 5. Augmented Workflows
    1. Types of Workflow Augmentation
      1. Fixed-Rule, High-Confidence Augmentation
      2. Idea and Insight Enrichment
      3. Conversational Augmentation
      4. Contextual Augmentation
      5. Collaborative Augmentation
    2. The Analytics Use-Case Approach: Finding Workflows to Augment
      1. Phase 1. Idea: The Initial Spark
      2. Phase 2. Concept: Structuring the Idea
      3. Phase 3. Proof of Concept: Testing the Waters
      4. Phase 4. Prototyping: Shaping the Concept
      5. Phase 5. Pilot: The Test Run
      6. Phase 6. Product: Full Deployment
      7. Making the Make-or-Buy Decision
      8. Decision Scenarios
      9. Overarching Success Factors
    3. Balancing Automation and Integration
    4. The Use-Case Library
    5. Technical Requirements for Implementing AA
      1. Infrastructure Setup Challenges
      2. IT System Integration Challenges
      3. Governance Challenges
    6. Conclusion
  8. 6. Augmented Frames
    1. Business Objects and Frame Units
    2. Understanding Frames
      1. Key Features of Frames
      2. Frame Types
    3. Frame Engines
      1. Frame Engine Types
      2. Attribute Aggregation
      3. Engine Interfaces
      4. Result Objects
      5. Implementation Challenges
    4. Frame Agent
      1. Dissolving Frames
      2. Identifying Types
      3. Translating Frame Units
      4. Enriching Frames
      5. Orchestrating Calls
      6. Standardizing Results
      7. Central Repository
      8. Monitoring and Performance Analysis
      9. User Access and Security
      10. User Interface
    5. Frame Dissolver
    6. Frame Adapter
      1. Dealing with Group Variables
      2. Dealing with Bottom-up Business Object Structures
      3. Dealing with Unconnected Business Objects
    7. Frame Creator
    8. Case Study: AP/TP Frame Engine
    9. Infrastructure and Technology
    10. An Iterative Approach to Introducing Augmented Frames
      1. Iteration 1: Free Frames and Frame Engines
      2. Iteration 2: A Frame Agent and Frame Adapter
      3. Iteration 3: The Frame Dissolver, ID Frames, and Indexed Frames
      4. Iteration 4: Static Frames
      5. Iteration 5: Dynamic Frames
      6. Iteration 6: The Frame Creator
      7. Iteration Wrap-up
    11. Conclusion
  9. 7. Applied Examples
    1. The Underwriting Process
      1. Types of Augmented Workflows in Underwriting
      2. The Workflows in Detail
    2. Example 1: Location Workflow
      1. Situation and Problem Statement
      2. Solution Overview
      3. Solution Breakdown
      4. Example Summary
    3. Example 2: Benchmarking Workflow
      1. Situation and Problem Statement
      2. Solution Overview
      3. Solution Breakdown
      4. Example Summary
    4. Example 3: Proposal Workflow
      1. Situation and Problem Statement
      2. Solution Overview
      3. Solution Breakdown
      4. Example Summary
    5. Example 4: Improved Forecasting in Agile Projects
      1. Situation and Problem Statement
      2. Solution Overview
      3. Solution Breakdown
      4. Example Summary
    6. Example 5: Quick Sales Intelligence
      1. Situation and Problem Statement
      2. Solution Overview
      3. Solution Breakdown
      4. Example Summary
    7. Conclusion
  10. Index
  11. About the Authors

Product information

  • Title: Augmented Analytics
  • Author(s): Willi Weber, Tobias Zwingmann
  • Release date: May 2024
  • Publisher(s): O'Reilly Media, Inc.
  • ISBN: 9781098151720