Research establishing a link between analytics and business performance remains in a nascent stage, but the popular press is rife with examples of firms predicting the viewing and shopping habits of individuals, providing personalized healthcare-related services, and harnessing real-time agricultural data to increase productivity and efficiency. Nevertheless, when defined as the use of advanced mathematics to identify, explain, or predict patterns in data to improve confidence in business decision making to create value, the majority of analytics projects fail to deliver or have low success rates. This Advisor explores some of the reasons for that failure.
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