Weaving Analytics for Effective Decision Making helps managers unleash the power of analytics. It provides a roadmap for implementing analytics and securing a high return on investment for the organization. The book is meant primarily for decision makers, business leaders and business problem solvers who are engaged in decision-making roles in organizations. Several books have established the need for analytics in decision making; this book moves one step ahead and explains how managers can maximize the benefits of analytics in organizations. It spells out the sequence business managers should adopt towards building business intelligence-driven organizations.
Chapter 4: Communicating Analytical Output: Numbers to Narratives
Communicating Analytical Output: Numbers to Narratives
Ravi Raj, a data analyst employed with a large sized FMCG company was tasked to run a regression-based model on the sales volume of the company's biggest brand. He was asked to identify the important drivers of sales and report the same to Ashwin, the marketing manager.
Ravi ran the regression on sales data and presented the output of the regression model to Ashwin, identifying the statistically significant variables that drive sales volume of the brand.
Ashwin was somewhat puzzled looking at the report. He was expecting a measure of the influence of each important [Page 72]marketing variable on the sales in terms of ‘rupee impact’, so that he could get a ‘business’ view of ...