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Analytics: How to Win with Intelligence

Analytics: How to Win with Intelligence

By : John Thompson, Shawn P. Rogers
4.7 (19)
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Analytics: How to Win with Intelligence

Analytics: How to Win with Intelligence

4.7 (19)
By: John Thompson, Shawn P. Rogers

Overview of this book

Today, business is moving into an era where information is more valuable than services. Organizations that connect information with their products will have a huge advantage. This book helps people understand the power of data analytics and explains how some of the tools available can be applied to a wide range of applications. It begins with a brief history of analytics and explains how it all began. You'll learn about several common analytical approaches and the tools that data scientists use to analyze data. You'll gain insight into some staffing models, technologies, organizational structures, and analytical approaches used in the previous two eras of analytics. As you progress through the chapters, you'll also get a glimpse into the future of the analytical marketplace. After reading this book, you will be able to help your team deploy analytical elements into your operations and become competitive in your business.
Table of Contents (11 chapters)
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1
Foreword by Tom Davenport

CHAPTER 6
Getting Started

“The journey of a thousand miles begins with one step.”
– Lao Tzu

The Progressive Group of Insurance Cos. is at the cutting edge of advanced analytics. Through the use of transponder devices that people install on their vehicles, the company is able to track customers’ mileage, the times of day they tend to drive, and their braking habits. That data enables Progressive to determine more accurate pricing, including which customers should and shouldn’t receive insurance premium discounts (and the size of those discounts).

The system, called Snapshot, also provides tips to customers who want to improve their driving skills, and a user-friendly interface enables them to share their experiences on social networks. Moreover, by analyzing the cumulative Snapshot data over the years (a total of more than 12 billion miles of driving), Progressive has been able to derive a number of key insights. It has found, for example,...

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