Article Review: Systematic computational analysis

Principles of Understanding Analytics
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Principles of Understanding Analytics
Introduction
Systematic computational analysis of data benefits companies when it comes to making strategic decisions. Analytics help in unfolding, forecasting, and improving the performance of the company as part of its strategic plan (Davenport, 2015). With the aid of several forms of analytics like predictive analytics, market optimization, and enterprise decision management, it is easy for companies to study and compute the vacant data following some principles. The essay below reviews identifying and framing the analytical problem, understanding different types of analytics and their implications, as well as internal and external uses of analytics as principles for understanding analytics.
Identifying and Framing the Analytical Problem
Determining what the problem is the first and most crucial step involving the expert knowledge of a quantitative analyst (Davenport, 2015). The analyst uses his intelligence, plus observations made on past events, given the fact that he is experienced at his job. Data will be collected and analyzed by concentrating on a specific area for some time to identify the problem. To figure out the problem of communication with other people should be expressed understandably. Besides, there should be a lot of patience with the problem analyst because the process may be intimidating. Therefore, identifying the problem is a crucial principle in understanding analytics.
Understanding Different Analytical Types and the Impacts
Analytic types include Descriptive...