The heuristics of analytics: a practical perspective of what influences our analytical world

In: Wiley & SAS business series

Abstract

A practical guide to deploying mathematical and statistical models when performing analytics The Heuristics in Analytics describes analytic processes and how they fit into the heuristic world around us. In spite of the strong heuristic characteristics of the analytical processes, this important book emphasizes the need to have the proper tools to engage analytics. It describes the analytical process from the exploratory analysis in respect to business scenarios and corporate environments, to model developments; and from statistics, probability, stochastic, mathematics, and artificial intelligence; to the deployments and possible outcomes.-Describes the overall analytical process in terms of modeling, deployment, and application -Presents distinct analytical approaches such as statistical, probabilistic, stochastic, and mathematical -Offers a new perspective of the randomness in analytical modeling -Includes case studies on the entire analytical process using telecom companies based in Brazil, Ireland, Turkey, United Sates, and Canada Randomness holds a strong impact in the everyday world. It makes sense, then, that analytics are put in place to understand business occurrences, marketplace scenarios, and consumer behavior. The Heuristics in Analytics uniquely shows how random events on a daily basis might completely change expectations, predictions, and behaviors, particularly in corporate environments, and how companies can build a proper analytical strategy to diminish the effect of randomness in business actions.