How to catch the tail ?
Working on data analysis, predictive analytics, strategy modelling or product management. In today’s digital ecosphere we are mostly data driven. Our answers lie within the waves of user data, behavior analytics and demographic specifications.
While working on several independent projects and clients throughout different business verticals, I stumbled upon this fantastic framework from Aryng known as BADIR. Data to decisions, data that will make sense, data that will become power in the right hands.
Five steps of BADIR process
1. The right Business Question: State the real question clearly and in an elaborate manner. When you know the right question, the answer is much accurate and in most cases profitable.
2. What is the Analysis Plan: Planning is the maximum work done if you do the initial POC work right, hypothesis driven approach is helpful when communicated to the concerned people at an initial level. The results will be insight driven and data will be close to what is needed.
3. Collection of Data: Scrape out the data that falls within the filters of requirement and hypothesis. Filters like date and time range, threshold values, demographic, geographic limitations, tools to be used. Data collected should be around the initial plan so that it’s close to the ask.
4. Deriving Insights and Information from the data: Insights is the first check to the whole plan of hypothesis, data collection and answering questions. Creating insights from the data collected and answering stakeholder questions is the best check to the whole process.
5. Recommendations: The final milestone is the recommendations made to the business users from the insight model and data collected. The whole approach is supposed to answer the business questions helping to make better business decisions.
WE should remember that plans and processes should be kept under a regular check and changes in the business requirement should reflect in the various frameworks. No model is a complete answer or a solid cemented building, changes are constant and need to be built in during checkins and flag points.