What is an insight team all about?

February 24, 2012
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This post was kindly contributed by BusinessKen - go there to comment and to read the full post.

How to capture succinctly the uniqueness of an insight team? How to ‘elevator ride’ describe what are the key benefits of having such a team? In my mind, it is first important to make a clear distinction between Business Intelligence (BI) which is about dissipating meaningful data to the people who need it. A good BI is essential for successful Analytical Intelligence (AI) as it frees the team from the all-consuming bush fire fighting.
I like the title of an Experian document “Analytical insight: bringing science to the art of marketing”. One of the section headings, “Turn data into intelligence ” makes a good stab at the question.
How about “A team of knowledge workers turning data into intelligence, insight and action using advanced tools and techniques”:

  •  Knowledge workers = highly qualified and experienced
  • Turning data = Evidence Based
  •   Intelligence = that backwards mirror – BI
  • Insight = statistical analysis (forecasting, basket analysis, churn analysis, channel optimisation, etc.)
  • Action = informing strategic decisions (e.g. how many sales people do we need) and driving tactical activities (where should we place them and whom should they meet)
  • Advanced tools = software such as sas, JMP, mapinfo – definitely not toys like Excel
  • Advanced techniques = more than just means and guesses – NLMIXED, Time series analysis, Neural
  • Networks, factor analysis, etc.
Another of my attempts is “Increasing revenue and reducing costs through evidence based analytics

This post was kindly contributed by BusinessKen - go there to comment and to read the full post.

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