Review Your Business Comprehensively: Monitoring and Revising Your Analytical Models as the Business--or Business Environment--Changes

By: Thomas H. Davenport and Jeanne G. Harris and Robert Morison

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Synopsis: Being analytical - or more specifically, being successful with analytics - is not a one-time activity. Analytical competitors must constantly review and revise their approaches in light of their business strategies and business models, changing market conditions, competitor initiatives, and the expectations and behaviors of customers. These days the world changes rapidly, and analytical models need to reflect those changes. In this chapter the authors of the groundbreaking Competing on Analytics discuss how to monitor and review your analytical processes and models to ensure that they stay in sync with changing business conditions. Just as your competition, technology, and customers change, so too should your analytical models. This chapter was originally published as Chapter 9 of Analytics at Work: Smarter Decisions, Better Results.