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BADIR
The BADIR (pronounced /ˈbaːdɪr/) is a structured data science and data analytics process designed to enhance data-driven decision-making within organizations by addressing both analytical output as well as usefulness to management. It was developed by Piyanka Jain and Puneet Sharma and first published in the 2014 book “Behind Every Good Decision”. Overview The BADIR Framework employs a hypothesis-driven approach that involves understanding business objectives and challenges, analysis planning before acquiring and ensuring the quality of relevant data, applying analytics to derive insights and the potential impact on the business challenge, developing actionable recommendations aligned with strategic goals, and implementing decisions while monitoring outcomes and making necessary adjustments. Key Components of BADIR The BADIR Framework consists of interrelated components essential for decision-making. Its main assertion is that if data analytics does not drive business ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Analytics
Analytics is the systematic computational analysis of data or statistics. It is used for the discovery, interpretation, and communication of meaningful patterns in data, which also falls under and directly relates to the umbrella term, data science. Analytics also entails applying data patterns toward effective decision-making. It can be valuable in areas rich with recorded information; analytics relies on the simultaneous application of statistics, computer programming, and operations research to quantify performance. Organizations may apply analytics to business data to describe, predict, and improve business performance. Specifically, areas within analytics include descriptive analytics, diagnostic analytics, predictive analytics, prescriptive analytics, and cognitive analytics. Analytics may apply to a variety of fields such as marketing, management, finance, online systems, information security, and software services. Since analytics can require extensive computation (s ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
