Question

Failure to fully understand the importance of variables; constraints; limits; dependencies, and objectives in the beginning of the business analytics process hampers the effective and efficient use of business analytics for today’s organizations. Provide at least three ways to overcome these challenges.

Answer 1

Below are the ways to overcome the challenge of the failure/inability to understand the importance of variables; constraints; limits; dependencies, and objectives in the beginning of the business analytics process -

1. Understand the problem statement i.e. the problem which the business analytics process is focusing on and trying to resolve and build a use case.

2. Understand the objectives the process is trying to achieve/accomplish; identify the variables that need to be changed; and the constraints in achieving the objectives; also list down the dependencies to ensure they are fulfilled before the process requires them.

3. Build a detailed solution plan to ensure everything needed for the business analytics process is captured and followed.

4. Refer to previously delivered solutions and corresponding processes for any guidance.

5. Train the resources in understanding all the components of business analytics process.