directing a talented IT person to “own”
the program at hand. This tactic typically
fails. To develop a true data-insights approach to business, an organization must
treat data as an asset. And that means
the whole company must be structured
to access, interpret and act based on insights drawn from the data, focusing on:
• Robust internal data sets (organized
and cleaned and ready for analysis)
• External data (often from a combination of free and paid sources) that provides insight into fraudsters’ behaviors
S!
ES LINE
C
(such as applications for multiple lines
of credit) – often a signal of coming
malfeasance.
Agreeing that the business “drives
this data”
Big data projects must be driven by
the company’s core business in a way
that makes it user-friendly, not by taking
a “build-it-and-they-will-come and figure
it out” approach. The business begins by
determining the key-performance areas
that are crucial to manage or monitor.
es!
C N nde
D A le O tte
E ilab g a
NCals avaMeetin
A
DV tORi nual
A
u
n
4T SA
201 ORM
INF
for
Bridging Data and Decisions
Alexandra Newman and Janny Leung, volume editors
J. Cole Smith, series editor
INFORMS 2014 edition of the TutORials in Operations Res