Analytics Consulting, Prasanna ParthasarathyBharathidasan Institute of Management, Trichy
3. Service Idea
“The key in business is to know something that nobody else knows.”
— Aristotle Onassis
“To understand is to perceive patterns.”
— Sir Isaiah Berlin
is sometimes described as the ‘
involving both the ‘Left Brain’ (Logical, objective; sees the details) and the‘Right Brain’ (Intuitive, subjective; gets the big picture).
Analytics consulting will encompass a whole gamut of solutions which aim atimproving the efficiency of operations at a retailer’s end.
The benefits of
Analytics consulting or Predictive Analytics
extend from costreductions to incremental revenue, from customer cross-selling and upselling toproduct supply chain optimization and market basket analysis.In general, some IT applications, systems or projects are mostly cost-centric,whereas others tend to support producing incremental revenue. For example,metadata initiatives, data mart consolidation or certain kinds of data qualityprojects tend to support operational efficiencies and cost reductions, largely byhelping IT to work smarter and do more with less.
This is Business Intelligenceor Data warehousing.
This is the space where Data warehousingorganizations across the world foocuses currently
. It is true, incrementalrevenues sometimes result from advanced applications with sophisticateddynamics from data mart consolidation when the entire technology stack isconsolidated. But by and large the result is cost reduction.In contrast, Analytics consulting achieved by predictive analytics tend to providebenefit in generating incremental revenue. It makes sense to drill down on bothdimensions - the customer as well as the product - and consider how predicative