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Three Steps to Success with Advanata

1–2 minutes

The majority of practical analytics problems are surprisingly straightforward and solvable in just three steps. Despite their simplicity, they can be highly effective and deliver tremendous business impact.

Problem setup is done using the Advanata inductive approach whereby the problem is driven by the customer to structure the problem (human intelligence), then the analyst who provides problem parameters (data intelligence), and finally the machine that solves the problem (artificial intelligence).

One, Two, Three!

All it takes is some discipline from the customer to reframe their research problems as business problems. This also helps to resolve ambiguities, focus efforts, and ensure alignment with their actual needs.

First step is structuring the problem which is done by the customer. Research problems are in reality Business problems that need better definition. Once they have been defined, we can identify goals that require specific actions. This is the basis of the Advanata Business problem framework.

Parameter refinement is where analysts can really shine. With clear problems to solve, they can apply the data and tools available to them and output usable information. By decomposing the problem into smaller steps, useful information can still be obtained, often more effectively, even in the absence of data.

The second step is defining problem parameters. This is where we identify how actions affect goals. We don't need past or present data, we really need future effect, and this can find this using assignment, analysis, estimation, or approximation. This is a direct result of Advanata dividing a complex problem into actionable steps.

Finally, Advanata uses proprietary AI driven optimization to deliver a clear, optimal solution that can be acted on immediately without the need for further analysis.

The final step is to provide a problem solution using the Data effectiveness methodology and this is done by Advanata's AI driven optimization to provide exact action sfor the customer.

Marketing Budget Analytics

This is a very basic yet immensely useful application. Research problems often arise because the focus defaults to how to solve the problem instead of identifying what actually needs to be solved. Once that’s corrected, it becomes a clear business problem, and the rest follows easily.

This is a basic application for providing marketing budget analytics. Research problems are usually the result of jumping to how we want to solve the problem than what we want to solve. Once this has been fixed we have a proper Business problem which in this case consist of marketing budget as a resource, sales and reach as goals, and different marketing channels as options.

The customer simply inputs the business problem parameters, the analyst calculates the rates, and Advanata delivers the optimal budget allocation. Many of these rates are readily available from vendors and can be refined using the aforementioned estimation methods. Additional goals can be added as needed, along with more complex hierarchies of marketing channels.

The marketing budget analytics process is very straightforward once the business problem has been defined. The customer provides the problem structure and goals, analyst and/or customer provides the rates (problem parameters) and Advanata provides the precise answer. Additional problem complexity can be added as required by the customer.

Is it that Simple?

It often is that simple! By focusing on the real questions, problems can be broken down into their basic parts and easily solved. This same approach makes complex, seemingly unsolvable problems manageable. Even challenges with data availability are readily handled by tackling smaller problems instead of getting stuck on a large, complex one. With Advanata, analytics success becomes an accessible reality.

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