{"product_id":"predictive-business-analytics-isbn-9781118175569","title":"Predictive Business Analytics","description":"\u003cb\u003eDiscover the breakthrough tool your company can use to make winning decisions\u003c\/b\u003e  \u003cp\u003eThis forward-thinking book addresses the emergence of predictive business analytics, how it can help redefine the way your organization operates, and many of the misconceptions that impede the adoption of this new management capability. Filled with case examples, \u003ci\u003ePredictive Business Analytics\u003c\/i\u003e defines ways in which specific industries have applied these techniques and tools and how predictive business analytics can complement other financial applications such as budgeting, forecasting, and performance reporting.\u003c\/p\u003e \u003cul\u003e \u003cli\u003eExamines how predictive business analytics can help your organization understand its various drivers of performance, their relationship to future outcomes, and improve managerial decision-making\u003c\/li\u003e \u003cli\u003eLooks at how to develop new insights and understand business performance based on extensive use of data, statistical and quantitative analysis, and explanatory and predictive modeling\u003c\/li\u003e \u003cli\u003eWritten for senior financial professionals, as well as general and divisional senior management\u003c\/li\u003e \u003c\/ul\u003e \u003cp\u003eVisionary and effective, \u003ci\u003ePredictive Business Analytics\u003c\/i\u003e reveals how you can use your business's skills, technologies, tools, and processes for continuous analysis of past business performance to gain forward-looking insight and drive business decisions and actions.\u003c\/p\u003e \u003cp\u003ePreface xv\u003c\/p\u003e \u003cp\u003e\u003cb\u003ePart One “Why” 1\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 1 Why Analytics Will Be the Next Competitive Edge 3\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eAnalytics: Just a Skill, or a Profession? 4\u003c\/p\u003e \u003cp\u003eBusiness Intelligence versus Analytics versus Decisions 5\u003c\/p\u003e \u003cp\u003eHow Do Executives and Managers Mature in Applying Accepted Methods? 6\u003c\/p\u003e \u003cp\u003eFill in the Blanks: Which X Is Most Likely to Y? 6\u003c\/p\u003e \u003cp\u003ePredictive Business Analytics and Decision Management 7\u003c\/p\u003e \u003cp\u003ePredictive Business Analytics: The Next “New” Wave 9\u003c\/p\u003e \u003cp\u003eGame-Changer Wave: Automated Decision-Based Management 10\u003c\/p\u003e \u003cp\u003ePreconception Bias 11\u003c\/p\u003e \u003cp\u003eAnalysts’ Imagination Sparks Creativity and Produces Confidence 12\u003c\/p\u003e \u003cp\u003eBeing Wrong versus Being Confused 12\u003c\/p\u003e \u003cp\u003eAmbiguity and Uncertainty Are Your Friends 14\u003c\/p\u003e \u003cp\u003eDo the Important Stuff First—Predictive Business Analytics 16\u003c\/p\u003e \u003cp\u003eWhat If . . . You Can 17\u003c\/p\u003e \u003cp\u003eNotes 19\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 2 The Predictive Business Analytics Model 21\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eBuilding the Business Case for Predictive Business Analytics 27\u003c\/p\u003e \u003cp\u003eBusiness Partner Role and Contributions 28\u003c\/p\u003e \u003cp\u003eSummary 29\u003c\/p\u003e \u003cp\u003eNotes 29\u003c\/p\u003e \u003cp\u003e\u003cb\u003ePart Two Principles and Practices 31\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 3 Guiding Principles in Developing Predictive Business Analytics 33\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eDefining a Relevant Set of Principles 34\u003c\/p\u003e \u003cp\u003ePrinciple 1: Demonstrate a Strong \u003ci\u003eCause\u003c\/i\u003e-\u003ci\u003eand\u003c\/i\u003e-\u003ci\u003eEffect \u003c\/i\u003eRelationship 34\u003c\/p\u003e \u003cp\u003ePrinciple 2: Incorporate a \u003ci\u003eBalanced \u003c\/i\u003eSet of Financial and Nonfinancial, Internal and External Measures 36\u003c\/p\u003e \u003cp\u003ePrinciple 3: Be \u003ci\u003eRelevant\u003c\/i\u003e, \u003ci\u003eReliable\u003c\/i\u003e, and \u003ci\u003eTimely \u003c\/i\u003efor Decision Makers 37\u003c\/p\u003e \u003cp\u003ePrinciple 4: Ensure Data \u003ci\u003eIntegrity \u003c\/i\u003e38\u003c\/p\u003e \u003cp\u003ePrinciple 5: Be \u003ci\u003eAccessible\u003c\/i\u003e, Understandable, and Well \u003ci\u003eOrganized \u003c\/i\u003e39\u003c\/p\u003e \u003cp\u003ePrinciple 6: Integrate into the \u003ci\u003eManagement \u003c\/i\u003eProcess 39\u003c\/p\u003e \u003cp\u003ePrinciple 7: Drive \u003ci\u003eBehaviors \u003c\/i\u003eand \u003ci\u003eResults \u003c\/i\u003e40\u003c\/p\u003e \u003cp\u003eSummary 41\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 4 Developing a Predictive Business Analytics Function 43\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eGetting Started 44\u003c\/p\u003e \u003cp\u003eSelecting a Desired Target State 46\u003c\/p\u003e \u003cp\u003eAdopting a PBA Framework 49\u003c\/p\u003e \u003cp\u003eDeveloping the Framework 49\u003c\/p\u003e \u003cp\u003eSummary 60\u003c\/p\u003e \u003cp\u003eNotes 60\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 5 Deploying the Predictive Business Analytics Function 61\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eIntegrating Performance Management with Analytics 63\u003c\/p\u003e \u003cp\u003ePerformance Management System 64\u003c\/p\u003e \u003cp\u003eImplementing a Performance Scorecard 67\u003c\/p\u003e \u003cp\u003eManagement Review Process 76\u003c\/p\u003e \u003cp\u003eImplementation Approaches 78\u003c\/p\u003e \u003cp\u003eChange Management 80\u003c\/p\u003e \u003cp\u003eSummary 81\u003c\/p\u003e \u003cp\u003eNotes 82\u003c\/p\u003e \u003cp\u003e\u003cb\u003ePart Three Case Studies 83\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 6 MetLife Case Study in Predictive Business Analytics 85\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eThe Performance Management Program 88\u003c\/p\u003e \u003cp\u003eImplementing the MOR Program 93\u003c\/p\u003e \u003cp\u003eBenefits and Lessons Learned 108\u003c\/p\u003e \u003cp\u003eSummary 108\u003c\/p\u003e \u003cp\u003eNotes 108\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 7 Predictive Performance Analytics in the Biopharmaceutical Industry 109\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eCase Studies 113\u003c\/p\u003e \u003cp\u003eSummary 127\u003c\/p\u003e \u003cp\u003eNote 127\u003c\/p\u003e \u003cp\u003e\u003cb\u003ePart Four Integrating Business Methods and Techniques 129\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 8 Why Do Companies Fail (Because of Irrational Decisions)? 131\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eIrrational Decision Making 131\u003c\/p\u003e \u003cp\u003eWhy Do Large, Successful Companies Fail? 132\u003c\/p\u003e \u003cp\u003eFrom Data to Insights 134\u003c\/p\u003e \u003cp\u003eIncreasing the Return on Investment from Information Assets 135\u003c\/p\u003e \u003cp\u003eEmerging Need for Analytics 136\u003c\/p\u003e \u003cp\u003eSummary 137\u003c\/p\u003e \u003cp\u003eNotes 138\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 9 Integration of Business Intelligence, Business Analytics, and Enterprise Performance Management 139\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eRelationship among Business Intelligence, Business Analytics, and Enterprise Performance Management 140\u003c\/p\u003e \u003cp\u003eOvercoming Barriers 143\u003c\/p\u003e \u003cp\u003eSummary 144\u003c\/p\u003e \u003cp\u003eNotes 145\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 10 Predictive Accounting and Marginal Expense Analytics 147\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eLogic Diagrams Distinguish Business from Cost Drivers 148\u003c\/p\u003e \u003cp\u003eConfusion about Accounting Methods 150\u003c\/p\u003e \u003cp\u003eHistorical Evolution of Managerial Accounting 152\u003c\/p\u003e \u003cp\u003eAn Accounting Framework and Taxonomy 153\u003c\/p\u003e \u003cp\u003eWhat? So What? Then What? 156\u003c\/p\u003e \u003cp\u003eCoexisting Cost Accounting Methods 159\u003c\/p\u003e \u003cp\u003ePredictive Accounting with Marginal Expense Analysis 160\u003c\/p\u003e \u003cp\u003eWhat Is the Purpose of Management Accounting? 160\u003c\/p\u003e \u003cp\u003eWhat Types of Decisions Are Made with Managerial Accounting Information? 161\u003c\/p\u003e \u003cp\u003eActivity-Based Cost\/Management as a Foundation for Predictive Business Accounting 164\u003c\/p\u003e \u003cp\u003eMajor Clue: Capacity Exists Only as a Resource 165\u003c\/p\u003e \u003cp\u003ePredictive Accounting Involves Marginal Expense Calculations 166\u003c\/p\u003e \u003cp\u003eDecomposing the Information Flows Figure 169\u003c\/p\u003e \u003cp\u003eFramework to Compare and Contrast Expense Estimating Methods 172\u003c\/p\u003e \u003cp\u003ePredictive Costing Is Modeling 173\u003c\/p\u003e \u003cp\u003eDebates about Costing Methods 174\u003c\/p\u003e \u003cp\u003eSummary 175\u003c\/p\u003e \u003cp\u003eNotes 175\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 11 Driver-Based Budget and Rolling Forecasts 177\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eEvolutionary History of Budgets 180\u003c\/p\u003e \u003cp\u003eA Sea Change in Accounting and Finance 182\u003c\/p\u003e \u003cp\u003eFinancial Management Integrated Information Delivery Portal 183\u003c\/p\u003e \u003cp\u003ePut Your Money Where Your Strategy Is 185\u003c\/p\u003e \u003cp\u003eProblem with Budgeting 185\u003c\/p\u003e \u003cp\u003eValue Is Created from Projects and Initiatives, Not the Strategic Objectives 187\u003c\/p\u003e \u003cp\u003eDriver-Based Resource Capacity and Spending Planning 189\u003c\/p\u003e \u003cp\u003eIncluding Risk Mitigation with a Risk Assessment Grid 190\u003c\/p\u003e \u003cp\u003eFour Types of Budget Spending: Operational, Capital, Strategic, and Risk 192\u003c\/p\u003e \u003cp\u003eFrom a Static Annual Budget to Rolling Financial Forecasts 194\u003c\/p\u003e \u003cp\u003eManaging Strategy Is Learnable 195\u003c\/p\u003e \u003cp\u003eSummary 195\u003c\/p\u003e \u003cp\u003eNotes 196\u003c\/p\u003e \u003cp\u003e\u003cb\u003ePart Five Trends and Organizational Challenges 197\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 12 CFO Trends 199\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eResistance to Change and Presumptions of Existing Capabilities 199\u003c\/p\u003e \u003cp\u003eEvidence of Deficient Use of Business Analytics in Finance and Accounting 201\u003c\/p\u003e \u003cp\u003eSobering Indication of the Advances Yet Needed by the CFO Function 202\u003c\/p\u003e \u003cp\u003eMoving from Aspirations to Practice with Analytics 203\u003c\/p\u003e \u003cp\u003eApproaching Nirvana 210\u003c\/p\u003e \u003cp\u003eCFO Function Needs to Push the Envelope 210\u003c\/p\u003e \u003cp\u003eSummary 215\u003c\/p\u003e \u003cp\u003eNotes 216\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 13 Organizational Challenges 217\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eWhat Is the Primary Barrier Slowing the Adoption Rate of Analytics? 219\u003c\/p\u003e \u003cp\u003eA Blissful Romance with Analytics 220\u003c\/p\u003e \u003cp\u003eWhy Does Shaken Confidence Reinforce One’s Advocacy? 221\u003c\/p\u003e \u003cp\u003eEarly Adopters and Laggards 222\u003c\/p\u003e \u003cp\u003eHow Can One Overcome Resistance to Change? 224\u003c\/p\u003e \u003cp\u003eThe Time to Create a Culture for Analytics Is Now 226\u003c\/p\u003e \u003cp\u003ePredictive Business Analytics: Nonsense or Prudence? 227\u003c\/p\u003e \u003cp\u003eTwo Types of Employees 227\u003c\/p\u003e \u003cp\u003eInequality of Decision Rights 228\u003c\/p\u003e \u003cp\u003eWhat Factors Contribute to Organizational Improvement? 229\u003c\/p\u003e \u003cp\u003eAnalytics: The Skeptics versus the Enthusiasts 229\u003c\/p\u003e \u003cp\u003eMaximizing Predictive Business Analytics: Top-Down or Bottom-Up Leadership? 234\u003c\/p\u003e \u003cp\u003eAnalysts Pursue Perceived Unachievable Accomplishments 235\u003c\/p\u003e \u003cp\u003eAnalysts Can Be Leaders 236\u003c\/p\u003e \u003cp\u003eSummary 237\u003c\/p\u003e \u003cp\u003eNotes 237\u003c\/p\u003e \u003cp\u003eAbout the Authors 239\u003c\/p\u003e \u003cp\u003eIndex 243\u003c\/p\u003e  \u003cp\u003e\u003cb\u003eLAWRENCE S. MAISEL,\u003c\/b\u003e President of DecisionVu, specializes in corporate performance management, financial management, and IT value management. He has extensive industry experiences with numerous Global 1000 companies including MetLife, TIAA-CREF, Citigroup, GE, Bristol-Myers, Pfizer, and News Corp\/Fox Entertainment. Larry co-created with Drs. Kaplan and Norton the Balanced Scorecard Approach, and co-authored with Drs. Kaplan and Cooper \u003ci\u003eImplementing Activity-Based Cost Management\u003c\/i\u003e. He is a CPA, holds a BA from NYU and an MBA from Pace University, and was an adjunct professor at Columbia University's Graduate Business School. Contact him at LMaisel@DecisionVu.com. \u003c\/p\u003e\u003cp\u003e\u003cb\u003eGARY COKINS\u003c\/b\u003e is the founder of Analytics-Based Performance Management, LLC. He is an internationally recognized expert, speaker, and author in advanced cost management and performance improvement systems. He served fifteen years as a consultant with Deloitte Consulting, KPMG, and Electronic Data Systems (EDS, now part of HP). From 1997 until recently, Gary was in business development with SAS, a leading provider of enterprise performance management and business analytics and intelligence software. He has a degree in operations research from Cornell University and an MBA from Northwestern University Kellogg School of Management. Contact him at gcokins@garycokins.com.   \u003c\/p\u003e\u003cp\u003e\u003cb\u003ePREDICTIVE BUSINESS ANALYTICS\u003c\/b\u003e Forward-Looking Capabilities to Improve Business Performance \u003c\/p\u003e\u003cp\u003eWith the massive abundance of big data, a lack of flexible strategies, and the business world growing increasingly more complex thanks to globalization, more and more organizations are clamoring for better processes and tools to make smarter decisions. \u003c\/p\u003e\u003cp\u003eRedefine the way your organization does business with the techniques and tools in \u003ci\u003ePredictive Business Analytics\u003c\/i\u003e. Industry leaders Lawrence Maisel and Gary Cokins equip you with the definitive tools to anticipate future events, forecast possible outcomes, and make decisions that translate into the ultimate competitive advantage. \u003c\/p\u003e\u003cp\u003eIn \u003ci\u003ePredictive Business Analytics\u003c\/i\u003e, Maisel and Cokins shatter the myths about this new paradigm, revealing how you can integrate predictive business analytics with other important business management and improvement methods, such as budgeting, forecasting, and performance reporting. \u003c\/p\u003e\u003cp\u003eWith an abundance of case examples, this guide insightfully considers: \u003c\/p\u003e\u003cul\u003e \u003cli\u003eWhy predictive business analytics is the next \"new\" wave\u003c\/li\u003e \u003cli\u003ePutting the predictive business analytics model to work in your business\u003c\/li\u003e \u003cli\u003eDeveloping predictive business analytics—the guiding principles\u003c\/li\u003e \u003cli\u003eHow to get started with a predictive business analytics function\u003c\/li\u003e \u003cli\u003eDeploying the predictive business analytics function\u003c\/li\u003e \u003cli\u003eWhat happens when you integrate business intelligence, business analytics, and enterprise performance management\u003c\/li\u003e \u003cli\u003ePutting your money where your strategy is: driver-based budgets\u003c\/li\u003e \u003cli\u003eMoving from aspirations to practice with analytics\u003c\/li\u003e \u003c\/ul\u003e \u003cp\u003eRead \u003ci\u003ePredictive Business Analytics\u003c\/i\u003e and exploit the power of data in your business to get ahead of the competition—and stay there.   \u003c\/p\u003e\u003cp\u003e\u003cb\u003ePREDICTIVE BUSINESS ANALYTICS\u003c\/b\u003e Forward-Looking Capabilities to Improve Business Performance  \u003c\/p\u003e\u003cp\u003eWith the massive abundance of big data, a lack of flexible strategies, and the business world growing increasingly more complex thanks to globalization, more and more organizations are clamoring for better processes and tools to make smarter decisions. \u003c\/p\u003e\u003cp\u003eRedefine the way your organization does business with the techniques and tools in \u003ci\u003ePredictive Business Analytics\u003c\/i\u003e. Industry leaders Lawrence Maisel and Gary Cokins equip you with the definitive tools to anticipate future events, forecast possible outcomes, and make decisions that translate into the ultimate competitive advantage. \u003c\/p\u003e\u003cp\u003eIn \u003ci\u003ePredictive Business Analytics,\u003c\/i\u003e Maisel and Cokins shatter the myths about this new paradigm, revealing how you can integrate predictive business analytics with other important business management and improvement methods, such as budgeting, forecasting, and performance reporting. \u003c\/p\u003e\u003cp\u003eWith an abundance of case examples, this guide insightfully considers: \u003c\/p\u003e\u003cul\u003e \u003cli\u003eWhy predictive business analytics is the next \"new\" wave\u003c\/li\u003e \u003cli\u003ePutting the predictive business analytics model to work in your business\u003c\/li\u003e \u003cli\u003eDeveloping predictive business analytics—the guiding principles\u003c\/li\u003e \u003cli\u003eHow to get started with a predictive business analytics function\u003c\/li\u003e \u003cli\u003eDeploying the predictive business analytics function\u003c\/li\u003e \u003cli\u003eWhat happens when you integrate business intelligence, business analytics, and enterprise performance management\u003c\/li\u003e \u003cli\u003ePutting your money where your strategy is: driver-based budgets\u003c\/li\u003e \u003cli\u003eMoving from aspirations to practice with analytics\u003c\/li\u003e \u003c\/ul\u003e \u003cp\u003eRead \u003ci\u003ePredictive Business Analytics\u003c\/i\u003e and exploit the power of data in your business to get ahead of the competition—and stay there.\u003c\/p\u003e","brand":"Wiley","offers":[{"title":"Default Title","offer_id":47989840511205,"sku":"NP9781118175569","price":49.95,"currency_code":"USD","in_stock":false}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/1842\/7735\/files\/9781118175569.jpg?v=1761785643","url":"https:\/\/k12savings.com\/products\/predictive-business-analytics-isbn-9781118175569","provider":"K12savings","version":"1.0","type":"link"}