Kevin gray main stage - 2012
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- 1. Kevin Gray, Cannon Gray, Japan Festival of NewMR 2012 - Main
Stage Session 2 APresenta*onfrom TheFes*valofNewMRMainStage
5December2012 What do we mean by Analytics?
AllcopyrightownedbyTheFuturePlaceandthepresentersofthematerial
Formoreinforma:onaboutNewMReventsvisitNewMR.org KevinGray
CannonGray
- 2. Kevin Gray, Cannon Gray, Japan Festival of NewMR 2012 - Main
Stage Session 2 What do we mean by Analytics? Kevin Gray Cannon
Gray
- 3. Kevin Gray, Cannon Gray, Japan Festival of NewMR 2012 - Main
Stage Session 2 Analytics, Schmanalytics Data Analytics: Crunching
the Future - BloombergBusinessweek, September 2011 How Target
Figured Out A Teen Girl Was Pregnant Before Her Father Did -
Forbes, February 2012 The Plan to Rescue Sears - The Wall Street
Journal, March 2012
- 4. Kevin Gray, Cannon Gray, Japan Festival of NewMR 2012 - Main
Stage Session 2 James who? Data Scientist: The Sexiest Job of the
21st Century - Harvard Business Review, October 2012
- 5. Kevin Gray, Cannon Gray, Japan Festival of NewMR 2012 - Main
Stage Session 2 Sounds great, but what is it?
- 6. Kevin Gray, Cannon Gray, Japan Festival of NewMR 2012 - Main
Stage Session 2 Some Unofficial Definitions (excerpted from
December 2011 LI Discussions) The overlay of interpretation on data
that has been run through some algorithm to give meaning to that
data. Analytics has always been about understanding the
relationship among various pieces of available data, usually in a
predictive mode[Its] the construction of a set of mathematical
models relating current data streams in a manner that will help
assess the probable consequences of various potential future
actions.
- 7. Kevin Gray, Cannon Gray, Japan Festival of NewMR 2012 - Main
Stage Session 2 Some Unofficial Definitions (excerpted from
December 2011 LI Discussions) I think of large data sets and
analysis intended to predict rather than to understand as opposed
to analysis where I think the purpose is to understand rather than
to predict. Crunching massive amounts of data to find patterns,
frequencies and statistical significance. It's both a verb and
noun. It's a step in the research process. It tells you the what.
The end output helps inform decision making
- 8. Kevin Gray, Cannon Gray, Japan Festival of NewMR 2012 - Main
Stage Session 2 Some Unofficial Definitions (excerpted from
December 2011 LI Discussions) Analytics has suffered the fate of
any term that enjoys widespread popularity and usage - the meaning
has been sucked out of it. Its use by people who don't really
understand its origin, methods or nuances results in a kind of
entropy that sees it attached to activities we never before
imagined could be classified as analytics. For example: - A query
from an OLAP data cube - A graph in a New York Times article -
Examining a monthly sales report - Reading your sons report
card
- 9. Kevin Gray, Cannon Gray, Japan Festival of NewMR 2012 - Main
Stage Session 2 Advanced Analytics... Have you ever seen promo for
software that offers Advanced Analytics... ...only to discover that
it is little more than a package for crosstabs and graphics?
- 10. Kevin Gray, Cannon Gray, Japan Festival of NewMR 2012 -
Main Stage Session 2 Some Official Definitions The method of
logical analysis - Merriam-Webster This is a science of using
mathematical techniques to understand data. It may involve using
statistics and other related techniques to make inferences or
obtain meaningful information from data to facilitate making
decisions. It might be used as a broader term to include all areas
of capturing, storing, retrieving and analyzing data. -
wiki.answers.com
- 11. Kevin Gray, Cannon Gray, Japan Festival of NewMR 2012 -
Main Stage Session 2 Some Official Definitions The field of data
analysis. Analytics often involves studying past historical data to
research potential trends, to analyze the effects of certain
decisions or events, or to evaluate the performance of a given tool
or scenario. The goal of analytics is to improve the business by
gaining knowledge which can be used to make improvements or
changes. - BusinessDictionary.com
- 12. Kevin Gray, Cannon Gray, Japan Festival of NewMR 2012 -
Main Stage Session 2 Some Official Definitions From Wikipedia:
Analytics is the discovery and communication of meaningful patterns
in data. Especially valuable in areas rich with recorded
information, analytics relies on the simultaneous application of
statistics, computer programming and operations research to
quantify performance. Analytics often favors data visualization to
communicate insight.
- 13. Kevin Gray, Cannon Gray, Japan Festival of NewMR 2012 -
Main Stage Session 2 Some Official Definitions From Wikipedia
(cont): Analytics is a two-sided coin. On one side, it uses
descriptive and predictive models to gain valuable knowledge from
data - data analysis. On the other, analytics uses this insight to
recommend action or to guide decision making - communication. Thus,
analytics is not so much concerned with individual analyses or
analysis steps, but with the entire methodology.
- 14. Kevin Gray, Cannon Gray, Japan Festival of NewMR 2012 -
Main Stage Session 2 Much Ado About Little? If its a multi-billion
dollar business it would be useful to understand what it is!
- 15. Kevin Gray, Cannon Gray, Japan Festival of NewMR 2012 -
Main Stage Session 2 A Proposed Definition Analytics is the
discovery and communication of meaningful patterns in data. It
makes use of information technology, statistics and mathematical
algorithms to develop knowledge, to quantify performance or to make
predictions. It uses the insights gained from this process to
recommend action or to guide decision making. Analytics is best
thought of as a methodology, not simply as isolated tools or steps
in a process.
- 16. Kevin Gray, Cannon Gray, Japan Festival of NewMR 2012 -
Main Stage Session 2 Why This One? Analy:csisnotsimplyonething
Itisamethodology Itemploysmanytoolsaspartofaprocess
Analy:csiseasiertodescribethantodeneconcisely
- 17. Kevin Gray, Cannon Gray, Japan Festival of NewMR 2012 -
Main Stage Session 2 The Analytics Process DeningObjec:ves
DataCollec:on DataPrepara:on ModelBuilding ModelEvalua:on
Interpreta:on Scoring/Simula:ons Communica:on
- 18. Kevin Gray, Cannon Gray, Japan Festival of NewMR 2012 -
Main Stage Session 2 Some Analytics Tools
WhenthinkingofAnaly5cs,toolsareimportant
butshouldnotbetheoverridingfocus
However,afewwordsonanaly:cstoolswill makethistopicmoreconcrete
Becauseof:meconsidera:onswewillfocus
ontheModelingstepsintheprocess
- 19. Kevin Gray, Cannon Gray, Japan Festival of NewMR 2012 -
Main Stage Session 2 Still Alive an Kickin Core Methods Descrip:ve
Sta:s:cs Graphics Experimental Designs Sampling Measuresof
Associa:on Inferen:al Sta:s:cs Regression Factor Analysis Cluster
Analysis
- 20. Kevin Gray, Cannon Gray, Japan Festival of NewMR 2012 -
Main Stage Session 2 Underutilized? Specialized Methods Conjoint
Structural Equa:on Modeling Quan:le Regression Logis:c Regression
Poisson Regression Mul:level Modeling Survival Analysis Missing
Data Imputa:on
- 21. Kevin Gray, Cannon Gray, Japan Festival of NewMR 2012 -
Main Stage Session 2 Underutilized? Specialized Methods Latent
Class Growth Modeling Latent Transi:on Bayesian Es:ma:on Bayesian
Networks Social Network Analysis Text Analy:cs Monte Carlo
Methods
- 22. Kevin Gray, Cannon Gray, Japan Festival of NewMR 2012 -
Main Stage Session 2 Forecasting, MRM, ROI Forecas:ng, MRM,ROI
Smoothing Methods ARIMA Transfer Func:on Modeling Panel Modeling
VAR,VEC Dynamic Factor Analysis StateSpace Models GARCH
- 23. Kevin Gray, Cannon Gray, Japan Festival of NewMR 2012 -
Main Stage Session 2 Data Mining and Predictive Analytics Data
Mining, Predic:ve Analy:cs Trees Nearest Neighbor Classiers
Boos:ng, Bagging Stacking, Ensembles Associa:on Rules Ar:cial
Neural Networks Support Vector Machines GAM MARS
- 24. Kevin Gray, Cannon Gray, Japan Festival of NewMR 2012 -
Main Stage Session 2 The Future? Future? Enhanced Variable Selec:on
Sparse(n