Every business can benefit from improved analytical capabilities – we all want to better understand our customers and employees, optimize operations, and make better decisions. But for many companies, analytics is easier said than done.
An Analytics Incubator process provides a jump start for analytic initiatives. It leads a company through the analytics process, from ideation, analysis and hypothesis creation to data visualization and storytelling. The Analytics Incubator process is a low risk, high speed path to achieving analytic results.
Often the issue is not the statistical or mathematical portion of analytics but rather the lack of creative ideas when it comes to thinking of ways to utilize analytics for the benefit of the organization. One of the greatest challenges for any organization is the ability to articulate an opportunity or challenge into an idea and then develop the idea into a hypothesis which can be tested. Understanding where and how to begin this process is key for getting the most out of your analytic initiatives.
Summarized below are the first 2 phases of the incubator process: