The Value of Business Analytics: Identifying the Path to Profitability

THE FOUR-STEP FRAMEWORK

The remainder of this book focuses in more detail on a four-step framework for defining, communicating, delivering, and measuring the value of business analytics. As with most things, the process itself is quite simple; the challenge is in the execution. Selling the value of analytics breaks down to four major steps, described in Figure 3.6.

Figure 3.6 Selling the Value of Analytics

In upcoming chapters we will investigate each of these in turn, exploring some of the most important concepts behind them and providing a number of practical examples of how things work and what to expect when they do not work. To make execution easier, we will also provide in each chapter a checklist of items to consider when developing your management strategies.

NOTE

1. T. H. Davenport and J. G. Harris, Competing on Analytics (Boston: Harvard Business School Press, 2007).