Vision analytics framework
The start of a new year provides us the opportunity to take stock about the year that we just passed. It also affords us the chance to plan and commit to do better. That is why New Year’s resolutions abound everywhere. It is a practice that is said to have been thousands of years old. It aims to boost from the previous year the quality of life of the person making the resolution.
In a similar way, businesses aim to grow from the past. New Year’s resolutions are not often utilised as a tool for growth. Perhaps, it might not be the right platform for the practice. Nonetheless, organisations must find a mechanism to improve itself.
For those that have an analytics practice, I believe our Vision Analytics framework can help. In terms of insights, organisations really care about 2 main things.
How are we going?
How do we get better?
Our framework helps you gain a holistic perspective of the past, present, and future that helps businesses answer these 2 important questions.
What did we learn from the past?
In this phase, you can focus on tasks like trends analysis, seasonality, time series comparisions, and other similar tasks.
What is happening now?
Here you can look into key metrics, list of top items, sales performance, etc
Why are things happening the way they are?
Here you can engage in customer journey analysis, factor analysis, participation metrics
What can be predicted about the future?
From your understanding of the previous phases, you can engage in exercises that help you estimate, model, or tests your assumptions.
I encourage you to use the Vision Analytics Framework. It has helped our clients gain self-reflection and self-improvement. I hope it will help you grow your business, too.