Data Science

ConcentricData Science

Why You Should Be Analyzing the Point of Sale in the Customer Journey

People typically go through a journey before purchasing a product or service, which may include several stages. They become passively aware of options, actively do research, talk with friends and family members, evaluate their options, and then visit retailers or shop online. After the purchase, they engage with the product or service. Eventually, they may repeat the purchase again.

All The data You Need to Simulate A Market

The 4 Types of Data You Need for Simulation Forecasting

"I don't have enough data." "I don't have good enough data."  "My data is too old." These are the responses we often hear when customers are trying to improve their analytics processes. We hear these data concerns from small start-ups to Fortune 500 companies. In virtually every case these concerns may be true if you are using traditional models.  However, simulation opens the door to a new way to use data.

chinese system thinking

Systems Thinking: A Lesson From History On Strategic Decision Making

Assuming that "past performance will predict future behavior" is a textbook example of linear thinking.
Two recent economic and political situations illustrate deficiencies in linear thinking.[i] We thought the economy was going to continue to improve in 2008, mostly oblivious to the sub-prime mortgage lending crisis and the ensuing "Great Recession."


What Is Human Behavior Forecasting? An Alternative Business Forecasting Method

Human behavior forecasting is not a new concept. Facebook predicts what ads you are more likely to click on. Google suggests what you might be searching for. Netflix tells you what other shows you might like to watch. All of them are using the power of artificial intelligence to predict individual's needs and preferences.

improv analytics

How Improv Classes Taught Me To Be Better At Analytics

When analytics is done in a silo, the breadth and depth of the analysis will be constrained to the experience and expertise within that silo.
We find that organizations get more effective answers when working collaboratively as part of a team. Some improvisation is required to define business questions more broadly and integrate a wider range of data and insights from across multiple disciplines.

How to Respond to Market Changes in Pricing, Distribution & Advertising

How to Respond to Market Changes in Pricing, Distribution & Advertising

A surging competitor is dropping their prices by 20 percent. Distribution is dropping as a key retailer is closing stores across markets. A flood of new advertising tactics are becoming available. Which of these market changes should I respond to?  How should I respond to them?  How will they impact my business?