Business analytics: What’s all the buzz?
“What gets measured, gets improved.” A quote from famed management consultant Peter Drucker has never been more relevant than today, but it doesn’t tell us the whole story. The quote is from long before the era of big data, business analytics software and the information overload we face today.
Data analytics, typically shortened to analytics, is not a new concept. In the 19th century, the U.S. government would spend almost 10 years collecting and analyzing census data, completing just in time to begin collecting data again. Henry Ford applied measurement and time studies to perfect the assembly line. Manually collecting and analyzing data was an expensive venture and only justified in certain circumstances…
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