From the course: Predictive Analytics Essential Training for Executives
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Analytics project management
From the course: Predictive Analytics Essential Training for Executives
Analytics project management
- The trick in effectively managing analytics projects is to think in terms of portfolios, programs, and projects. I'm going to use these terms in a way that's very similar, but perhaps not identical to the way that a corporate project management office might. I'm going to focus on what is unique about predictive analytics projects, specifically analytics projects, programs, and portfolios. First, I like to keep analytics projects highly focused. For me, an analytics project is an attempt to predict a single outcome variable using a single general technique. For instance, I would never define an analytics project as broadly as reduced fraud; that's much too vague to measure progress. We need two things: something specific that we are predicting and an intervention strategy that we will use to combat the problem. For instance, if some customers churn because they don't pay and others churn because they switch carriers, that should probably be two projects and not one. I would urge you…
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