The NFL season may have come to end, but analytics for associations is like a year-round sport! All industries are recognizing the value analytics in optimal decision-making, and professional sports is no different.
Sale Brings Capital Infusion and Resources to Grow
(Washington, DC—February 15, 2018) Data Analytics Group, a leader in comprehensive analytics solutions for companies and nonprofits, acquires Association Analytics.
Having a data analytics team is essential for your organization to move forward with an analytics strategy and to drive a data-guided culture. Before you build your team and identify what roles you should hire and/or fill, you need to determine what your organization’s goals are and how data analytics can help you achieve those goals. It’s also good to recognize what responsibilities need to be created for you to attain those goals.
Our gut instincts play a role in our decisions - both in our personal and professional life. And more times than not, we can trust our intuition when making decisions. However, in our associations, relying on gut isn't enough to achieve strategic goals and to stay relevant. We also have to be data-guided in our decisions. Both go hand in hand. This is because today we have more decisions to make than ever before, and the pace of change itself is increasing exponentially. It's really just not possible for associations to rely on instinct, politics or tradition in today's world.
There are a bounty of sessions on data and data analytics at the 2016 ASAE Technology Conference & Expo, being held December 13-14 in National Harbor, MD. For a data-centric conference experience, here's our guide to the #TECH16:
Traditional databases, like an Association Management Systems, are designed to handle frequent transactions and store data. This is very different from dimensional data models that are specifically designed for analysis while aligning with the analytical workflow.
Last week, we introduced you to Propensity Modeling and how it can help your association make data-guided decisions while providing great value to your customers. We'll now dig into some of the technical detail and steps to implement Propensity Modeling.
What is the Analytical Mindsest?
In today's fast-paced, data-driven world, high-performing organizations seek individuals with an analytical mindset. Individuals with an analytical mindset are able to analyze information, identify problems and trends, and solve complex problems. They are also curious. They ask "why" and they want to learn how to do things better, which improves the whole organization.
The oft-cited Gartner image depicting an analytics maturity model shows different forms of analytics that associations can use to understand customers and make decisions with confidence. We’ve previously discussed how Predictive Analytics can provide valuable insight into your association business, but how can you move towards Prescriptive Analytics to answer ‘how can we make it happen?’ One way to get there is through "What-if" Analysis.
In April, I had the pleasure of speaking with a group of aspiring association executive leaders as part of the “Through the CEO Lens” series about how leaders of the future will increasingly need an analytical mindset. I was joined by David DeLorenzo with Delcor. You can view the recording below.