Contact Us Today! 1-844-237-4300

Central Technology Solutions Blog

Analytics Can Fool You

Analytics Can Fool You

Businesses today are doing more than ever to utilize the data they take in, and it shows. They are operating with more knowledge about their business, and thus are able to successfully create a usable knowledge base that, for some, will allow them to predict positive and negative market dynamics fairly accurately. After seeing how this platform can positively affect individual businesses, many other businesses are taking to the strategies. The problem that many businesses encounter, however, is that they are woefully unprepared to utilize analytics; or, they read too far into them. Today, we’ll take a look at data analytics and confront some of the problem's businesses are having.

Are You Prepared?
The first thing that you have to understand about the placement of a data analytics system is that you need to have a reliable silo of information in which to work from. If you don’t set this up properly, the analysis will not be thorough enough to properly represent your business’ operations and will therefore not be as reliable as you would typically want this type of analysis to be.

To get reliable analysis through analytics, you will first want to set up a data warehouse. A data warehouse is essentially a database that is fed by your existing databases. By having all of your business’ information in one spot, it will make your analysis, whether it’s conducting analytics or intelligence reports, more accurate and reliable.

Reading Analytics
Once you have your analytics platform set up properly, you are ready to run reports. There are a couple really simple, but crucial, mistakes people routinely make when reading their analytics reports.

  1. Correlation Doesn’t Always Mean Causation - There are times when you will be looking at two metrics and they are so amazingly similar that it can’t possibly be a coincidence. You then discover that the two seemingly correlated variables have no direct (or indirect) relationship with each other. It’s important that you don’t read into every similarity.
  2. Make Sure to Keep Everything in Context - When you are actively using analytics and you start making headway in one facet of your business, it can be intoxicating. Make sure to not transfer a false optimism that other numbers will react the same way if the indicators say they won’t.
  3. Just Too Much - Whether you are just tracking too many metrics, or you are tracking some that are completely meaningless for your situation, wasting time with certain metrics is just convoluting your practical understanding of your business. Scale it back for more success.
  4. The “Wow” Factor - Metrics that report very positive or very negative situations will always be alarming, but if they are reported very infrequently, you can consider them outliers and exclude them in your overall report.

It’s great when you decide to let the data your business collects work for you. If you would like some information about how to integrate data analytics into your business’ call the IT professionals at Central Technology Solutions today at 1-844-237-4300.

With Phishing Attacks Beating 2FA, You Need to Be ...
Tip of the Week: Understanding Bandwidth
 

Comments

No comments made yet. Be the first to submit a comment
Already Registered? Login Here
Guest
Thursday, June 20 2019

Captcha Image

Join our mailing list!

  • Company Name *
  • First Name *
  • Last Name *

      Mobile? Grab this Article!

      QR-Code dieser Seite

      Tag Cloud

      Security Tip of the Week Technology Best Practices Cloud Business Computing Email Productivity Hosted Solutions Malware Privacy IT Services Hackers Network Security Internet Data Software Outsourced IT Productivity Data Backup Managed IT Services Business IT Support Innovation Microsoft Mobile Devices Hardware Ransomware Data Recovery Computer Tech Term Cloud Computing Google Small Business Efficiency IT Support Backup Collaboration Managed Service Provider Business Continuity User Tips Internet of Things Smartphone Android Upgrade Communication Business Management Remote Monitoring Smartphones Paperless Office Disaster Recovery VoIP Windows 10 Data Management Phishing Windows 10 Encryption Social Media Server Windows Workplace Tips Browser Managed IT Managed IT Services Artificial Intelligence Risk Management Mobile Device BYOD Cybersecurity communications Facebook Save Money Passwords App Office 365 Mobile Device Management Holiday Saving Money Unified Threat Management Wi-Fi Document Management Quick Tips Employer-Employee Relationship Robot Compliance Apps Bring Your Own Device Gmail Managed Service BDR Business Technology Vendor Management Password Network Automation Recovery Analytics Virtualization Chrome Applications Government Firewall Bandwidth Healthcare Scam Hosted Solution Antivirus Website Project Management Infrastructure Money Telephone Systems Content Filtering SaaS Data storage Going Green Vulnerability Information Blockchain Wireless Microsoft Office File Sharing Big Data IT Management Help Desk Tip of the week Customer Service Apple Two-factor Authentication Politics Router Social Work/Life Balance VPN Virtual Reality Miscellaneous Customer Relationship Management Computing Data loss Data Security Regulations Training Office IT Service Printing Computers Storage Tablet Unified Communications Remote Computing Users Files Settings Downtime Mobile Computing Software as a Service Tech Support The Internet of Things Hacker Administration LiFi Maintenance Management Education Smart Technology Digital Payment Remote Monitoring and Management Upgrades Patch Management Websites Identity Theft Wireless Technology Legal Networking Twitter Net Neutrality Remote Workers IT solutions Licensing Virtual Private Network Internet Exlporer End of Support Health Network Management IoT HIPAA Budget Assessment Sports Access Control Cooperation Information Technology How To Monitors Server Management Mobile Security Electronic Medical Records Gadgets Machine Learning Mobility Operating System Alert Outlook Uninterrupted Power Supply Mouse Employees Consultation Company Culture Google Drive RMM How To Samsung Word Spam Flexibility YouTube Business Growth Redundancy Chromebook WiFi Avoiding Downtime Private Cloud Proactive Cabling Humor Managed Services Provider Shortcut Migration Cables Backup and Disaster Recovery Black Market Smart Tech Employee-Employer Relationship Wasting Time Operations Drones Enterprise Content Management Finance Firefox Writing Emoji Proactive Maintenance Data Warehousing Backups ROI Computing Infrastructure Point of Sale Deep Learning Network Congestion Solid State Drives Technology Assurance Group ’s 18 Solid State Drive Theft Heating/Cooling IT Consulting Cybercrime Current Events Cost Management E-Commerce WannaCry Computer Repair Teamwork Virtual Desktop Technology Tips Chatbots Wires Human Error Time Management Connectivity Hacking Physical Security Database Multi-Factor Security Wearable Technology Telephony Alt Codes Vulnerabilities Authentication Retail Cortana Database Management Microsoft Excel Modem Sync 3D Printing Notes Printer Alerts Law Enforcement Enterprise Resource Planning Bookmarks Display Options Distributed Denial of Service Annual Convention Public Cloud Cryptocurrency WPA3 Financial Servers Data Breach Travel Hard Drive Features Shared resources Comparison Identity Botnet Permission Processors Disaster Trending Office Tips Voice over Internet Protocol Google Calendar Typing Geography Authorization Cookies Mobile Device Managment Software Tips Hacks Unsupported Software Virus PowerPoint Gadget Best Practice Mobile Favorites Mail Merge Update Marketing 5G Managed IT Service San Diego Automobile Computer Care Bitcoin Fleet Tracking Procurement Technology Laws Cache Electronic Health Records VoIP Sponsor OneDrive Specifications Test Touchscreen Techology Buisness Star Wars Monitoring Windows 7 Legislation IT Technicians GPS High-Speed Internet Lenovo Social Engineering USB Permissions Nanotechnology Statistics Mobile Data Professional Services SharePoint Staff Conferencing Address Wireless Internet Break Fix Social Networking Windows 8 Save Time Asset Tracking Unified Threat Management Hotspot Crowdsourcing Meetings Recycling Cyberattacks Digital Obstacle Manufacturing Black Friday Roanoke — Central Technology Solutions Supercomputer Identities MSP Disaster Resistance Security Cameras Utility Computing Consulting Search Dark Data Personal Information Transportation Mirgation Tracking Development Zero-Day Threat Superfish Safety Fraud Screen Reader G Suite History Bluetooth Virtual Assistant Downloads Augmented Reality Taxes Google Wallet Managing Stress Instant Messaging Employer/Employee Relationships Dark Web Motherboard Google Maps OneNote Remote Worker User Error Language eWaste Read Only Spyware Course Hard Disk Drives Cyber Monday technology services provider IT Budget Hard Drives Google Docs Tech Terms Proactive IT Notifications Hard Disk Drive Students IT Consultant Printers Error Emergency Web Server CrashOverride GDPR Cameras Motion Sickness Regulation CCTV Administrator Relocation Webcam