2.1 Tasks
2.1.1 Define Business Problem or Opportunity
Guide to Business Data Analytics
Supporting Knowledge
Although the tasks in business data analytics are iterative and not sequential, defining the business problem or opportunity is often the first step performed in any business data analytics initiative. This task is where those with strong business analysis skills can assist with the work.
Often, when analytics engagements start, the task of identifying a problem is not given enough attention or the right stakeholders are not identified. There is often an urgency to see results from the investment in analytic initiatives. This can create a tendency to jump into a solution focus rather than devote enough attention to identifying to problem and engaging the right stakeholders. This can lead to problems not being analyzed in sufficient detail and resulting in a misdiagnosis of the business problem.
Business data analytics involves analysts performing business problem discovery in parallel with the task of identifying and understanding the right stakeholders. An analyst may facilitate discussions with stakeholders to elicit, observe, and analyze through a process of continuous discovery of any and all relevant information that will help the team understand the context of the situation.
Sometimes the organization is experiencing a problem that business data analytics can help solve, such as understanding why there is a sudden decrease in internet sales. In other situations, the organization may be interested in using business data analytics to uncover opportunities—as in the case of a manufacturing company looking to collect maintenance and performance data on its machinery to determine how to predict and avoid equipment outages. In either scenario, analysts use various business analysis elicitation and problem analysis techniques to obtain the necessary information required to define the business problem or opportunity that analytics might address.
It is important to note the outcome of this Define Business Problem or Opportunity involves identifying the business problem that may lead to one or more research questions/problems. Then, further analysis is conducted to formulate the right analytics questions from the business problem or opportunity under consideration.
Business problem or opportunity is usually a higher- level description than a research question/problem.
When defining the business problem or opportunity, analysts use several elicitation techniques such as interviews, job shadowing, surveys, and workshops. Business and organizational knowledge are useful when facilitating discussions.
Often, when analytics engagements start, the task of identifying a problem is not given enough attention or the right stakeholders are not identified. There is often an urgency to see results from the investment in analytic initiatives. This can create a tendency to jump into a solution focus rather than devote enough attention to identifying to problem and engaging the right stakeholders. This can lead to problems not being analyzed in sufficient detail and resulting in a misdiagnosis of the business problem.
Business data analytics involves analysts performing business problem discovery in parallel with the task of identifying and understanding the right stakeholders. An analyst may facilitate discussions with stakeholders to elicit, observe, and analyze through a process of continuous discovery of any and all relevant information that will help the team understand the context of the situation.
Sometimes the organization is experiencing a problem that business data analytics can help solve, such as understanding why there is a sudden decrease in internet sales. In other situations, the organization may be interested in using business data analytics to uncover opportunities—as in the case of a manufacturing company looking to collect maintenance and performance data on its machinery to determine how to predict and avoid equipment outages. In either scenario, analysts use various business analysis elicitation and problem analysis techniques to obtain the necessary information required to define the business problem or opportunity that analytics might address.
It is important to note the outcome of this Define Business Problem or Opportunity involves identifying the business problem that may lead to one or more research questions/problems. Then, further analysis is conducted to formulate the right analytics questions from the business problem or opportunity under consideration.
Business problem or opportunity is usually a higher- level description than a research question/problem.
When defining the business problem or opportunity, analysts use several elicitation techniques such as interviews, job shadowing, surveys, and workshops. Business and organizational knowledge are useful when facilitating discussions.
