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Dan Power

Greetings to all of my friends who work in the area of computerized decision support. This blog is a way for me to share stories from my encounters related to decision support, to comment on industry events, and to comment on other blogger's comments, especially those of my friends on the Business Intelligence Network. I'll try to state my opinions clearly and provide an old professor's perspective on how computers and information technology are changing the world. Decision making has always been my focus, and it will be in this blog as well. Your comments, feedback and questions are welcomed.

About the author >

Daniel J. "Dan" Power is a Professor of Information Systems and Management at the College of Business Administration at the University of Northern Iowa and the editor of DSSResources.com, the Web-based knowledge repository about computerized systems that support decision making; the editor of PlanningSkills.com; and the editor of DSS News, a bi-weekly e-newsletter. Dr. Power's research interests include the design and development of decision support systems and how these systems impact individual and organizational decision behavior.

Editor's Note: More articles and resources are available in Dan's BeyeNETWORK Expert Channel. Be sure to visit today!

by Dan Power
Editor, DSSResources.com 

Analytics refers to quantitative and statistical analysis of data. Analytic capabilities are important in both data-driven and model-driven DSS. Analysis using quantitative and statistical tools is the focus of ad hoc and routine special studies. Various sources identify three categories of analytics: 1) reporting, 2) prescriptive, and 3) predictive. Reporting summarizes data using descriptive statistics. Prescriptive analysis uses data to inform a recommendation for action. Prediction involves causal or correlational analysis. 

appeared in DSS News, Vol. 13, No. 18, September 16, 2012

Posted September 16, 2012 6:40 AM
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