This article by Chief Scientist Dan Putler explores the impact of data science on one of our most pressing social issues, the opioid epidemic, in a very accessible way. And the Alteryx Community contains a wealth of information for learning more about Predictive Analytics…more to come.
https://community.alteryx.com/t5/Data-Science-Blog/The-Drivers-of-Opioid-Prescription-Rates-in-England/ba-p/135244
What is the fundamental unit of value to a business? It turns out it’s the customer. Artem Mariychin, CEO and Co-Founder of Zodiac Metrics, joins host Allison Hartsoe to explain why companies should care about calculating Customer Lifetime Value (CLV), how to establish an accurate CLV formula model, and the positive business impact organizations can drive. Artem outlines how through having the right information and a data-driven approach to the customer, companies are able to increase their ROI and make better business decisions.
from Ambition Data…
Statista offers a search engine for market data, surveys, and statistics via corporate subscriptions. But a certain amount of information is publicly available. Here’s an example of a search on Education in China. It yields a short overview of how education is structured in China, some interesting high-level stats on things like number of universities, number of enrolled students in public universities, etc. You can see the high level numbers on the main search results page, but clicking into details (here’s the ‘number of universities’ detail page) runs you into the paywall.
https://www.statista.com/topics/2090/education-in-china/
Very thought-provoking (if not sobering) article…if your Analytics program is not heading in the direction you hope, this article provides very clear places to start hunting for improvement. Many thanks to Walt Frick for this find!
https://www.mckinsey.com/business-functions/mckinsey-analytics/our-insights/ten-red-flags-signaling-your-analytics-program-will-fail
Is it possible to deliver massive value with analytics? Jose Murillo, Chief Analytics Officer at Groupo Financiero Banorte, talks about how his team generated 200x on their marketing analytics investment for the bank in this episode. He was invited to build an analytics group within Banorte with a core mandate: Increase customer equity. After a little bit more than three years his analytics group has in partnership with the business and support lines, has produced value close to $1B in net income. In 2017, this was equivalent to 43% of the net income produced by the whole financial group. In this episode, Murillo talks about the six factors for success, including being set up as a profit center with targets and accountability, fostering relationships through the organization, and the passion that comes when an analytics team owns the results. He explains the impact teams can generate, and that they can take time to accrue. Murillo also explains how to pick the right project — they are a mixture of science, business knowledge, and contain inevitable institutional hurdles.
from Ambition Data…