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Business analytics: getting behind the numbers

Business analytics: getting behind the numbers Purpose – To identify, discuss and provide a solution for a common problem in the mathematical analyses in business analyses, namely, paralysis by analysis. Design/methodology/approach – The paper first discusses the scale and frequency of the paralysis by analysis problem, before discussing it in more depth before addressing a fundamental problem, which is an important root of the paralysis by analysis problem, the indiscriminate usage of central tendency measures. Finally, it discusses how variance can be turned from being a liability into an asset. The approach is conversational but examples and a case study are provided to substantiate the arguments. Findings – The paper provides some recommendations for avoiding paralysis by analysis. Practical implications – Basically, the paper shows by argument and example why practitioners and some researchers need to better understand the limitations and promises of mathematical analyses and to some extent how to incorporate this understanding into their work. Originality/value – There is nothing really new in this paper, but it discusses a problem that for some reason is often ignored by practitioners and some researchers. The true value of the paper therefore lies in making practitioners, in particular, more aware of the limitations as well as the possibilities in the mathematical analyses performed in business analytics so that they can better understand what they are doing and hence get behind the numbers, as it were. http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png International Journal of Productivity and Performance Management Emerald Publishing

Business analytics: getting behind the numbers

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References (20)

Publisher
Emerald Publishing
Copyright
Copyright © 2005 Emerald Group Publishing Limited. All rights reserved.
ISSN
1741-0401
DOI
10.1108/17410400510571446
Publisher site
See Article on Publisher Site

Abstract

Purpose – To identify, discuss and provide a solution for a common problem in the mathematical analyses in business analyses, namely, paralysis by analysis. Design/methodology/approach – The paper first discusses the scale and frequency of the paralysis by analysis problem, before discussing it in more depth before addressing a fundamental problem, which is an important root of the paralysis by analysis problem, the indiscriminate usage of central tendency measures. Finally, it discusses how variance can be turned from being a liability into an asset. The approach is conversational but examples and a case study are provided to substantiate the arguments. Findings – The paper provides some recommendations for avoiding paralysis by analysis. Practical implications – Basically, the paper shows by argument and example why practitioners and some researchers need to better understand the limitations and promises of mathematical analyses and to some extent how to incorporate this understanding into their work. Originality/value – There is nothing really new in this paper, but it discusses a problem that for some reason is often ignored by practitioners and some researchers. The true value of the paper therefore lies in making practitioners, in particular, more aware of the limitations as well as the possibilities in the mathematical analyses performed in business analytics so that they can better understand what they are doing and hence get behind the numbers, as it were.

Journal

International Journal of Productivity and Performance Management – Emerald Publishing

Published: Jan 1, 2005

Keywords: Business analysis; Mathematical analysis; Statistical methods of analysis; Analysis of variance

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