I created this "4 Types of Data Analytics" matrix to assist recent conversations concerning various approaches to data analytics. The X-Axis is a range of old-school GAAP accounting on the left and predictive analytics on the right. The Y-axis is a range of Public & General information at the top and detailed, proprietary secrets at the bottom. When discussing analytics, the type of data (Y-Axis) and manner of calculation (X-Axis) matter especially in the context of the audience and outcome.
I spend most of my time in the lower-left (and have been sliding right in recent research.) A lot of my good friends are doing great work above the X-Axis solving for different numbers. I'm biased towards concrete accounting, but I certainly check the weather forecast before I leave my home. Good decision making will utilize the best calculations for the given circumstance.
I hope it's a useful tool to you and your teams as you plot out what calculations are most important to business planning.
