p>Gert H. N. Laursen
Business Analytics for Managers
Wiley & SAS Business Series
The Wiley & SAS Business Series presents books that help senior‐level managers with their critical management decisions.
Titles in the Wiley & SAS Business Series include:
Agile by Design: An Implementation Guide to Analytic Lifecycle Management by Rachel Alt‐Simmons
Analytics in a Big Data World: The Essential Guide to Data Science and its Applications by Bart Baesens
Bank Fraud: Using Technology to Combat Losses by Revathi Subramanian
Big Data, Big Innovation: Enabling Competitive Differentiation through Business Analytics by Evan Stubbs
Business Analytics for Managers, Second Edition: Taking Business Intelligence Beyond Reporting by Gert H. N. Laursen and Jesper Thorlund
Business Forecasting: Practical Problems and Solutions edited by Michael Gilliland, Len Tashman, and Udo Sglavo
Business Intelligence Applied: Implementing an Effective Information and Communications Technology Infrastructure by Michael Gendron
Business Intelligence and the Cloud: Strategic Implementation Guide by Michael S. Gendron
Business Transformation: A Roadmap for Maximizing Organizational Insights by Aiman Zeid
Data‐Driven Healthcare: How Analytics and BI are Transforming the Industry by Laura Madsen
Delivering Business Analytics: Practical Guidelines for Best Practice by Evan Stubbs
Demand‐Driven Forecasting: A Structured Approach to Forecasting, Second Edition by Charles Chase
Demand‐Driven Inventory Optimization and Replenishment: Creating a More Efficient Supply Chain by Robert A. Davis
Developing Human Capital: Using Analytics to Plan and Optimize Your Learning and Development Investments by Gene Pease, Barbara Beresford, and Lew Walker
Economic and Business Forecasting: Analyzing and Interpreting Econometric Results by John Silvia, Azhar Iqbal, Kaylyn Swankoski, Sarah Watt, and Sam Bullard
Financial Institution Advantage and the Optimization of Information Processing by Sean C. Keenan
Financial Risk Management: Applications in Market, Credit, Asset, and Liability Management and Firmwide Risk by Jimmy Skoglund and Wei Chen
Fraud Analytics Using Descriptive, Predictive, and Social Network Techniques: A Guide to Data Science for Fraud Detection by Bart Baesens, Veronique Van Vlasselaer, and Wouter Verbeke
Harness Oil and Gas Big Data with Analytics: Optimize Exploration and Production with Data Driven Models by Keith Holdaway
Health Analytics: Gaining the Insights to Transform Health Care by Jason Burke
Heuristics in Analytics: A Practical Perspective of What Influences Our Analytical World by Carlos Andre, Reis Pinheiro, and Fiona McNeill
Hotel Pricing in a Social World: Driving Value in the Digital Economy by Kelly McGuire
Implement, Improve and Expand Your Statewide Longitudinal Data System: Creating a Culture of Data in Education by Jamie McQuiggan and Armistead Sapp
Killer Analytics: Top 20 Metrics Missing from your Balance Sheet by Mark Brown
Mobile Learning: A Handbook for Developers, Educators, and Learners by Scott McQuiggan, Lucy Kosturko, Jamie McQuiggan, and Jennifer Sabourin
The Patient Revolution: How Big Data and Analytics Are Transforming the Healthcare Experience by Krisa Tailor
Predictive Analytics for Human Resources by Jac Fitz‐enz and John Mattox II
Predictive Business Analytics: Forward‐Looking Capabilities to Improve Business Performance by Lawrence Maisel and Gary Cokins
Statistical Thinking: Improving Business Performance, Second Edition by Roger W. Hoerl and Ronald D. Snee
Too Big to Ignore: The Business Case for Big Data by Phil Simon
Trade‐Based Money Laundering: The Next Frontier in International Money Laundering Enforcement by John Cassara
The Analytic Hospitality Executive: Implementing Data Analytics in Hotels and Casinos by Kelly A. McGuire
The Visual Organization: Data Visualization, Big Data, and the Quest for Better Decisions by Phil Simon
Understanding the Predictive Analytics Lifecycle by Al Cordoba
Unleashing Your Inner Leader: An Executive Coach Tells All by Vickie Bevenour
Using Big Data Analytics: Turning Big Data into Big Money by Jared Dean
Visual Six Sigma, Second Edition by Ian Cox, Marie Gaudard, Philip Ramsey, Mia Stephens, and Leo Wright
For more information on any of the above titles, please visit www.wiley.com.
Copyright © 2017 by John Wiley & Sons, Inc. All rights reserved.
Published by John Wiley & Sons, Inc., Hoboken, New Jersey.
Published simultaneously in Canada.
No part of this publication may be reproduced, stored in a retrieval system, or transmitted in any form or by any means, electronic, mechanical, photocopying, recording, scanning, or otherwise, except as permitted under Section 107 or 108 of the 1976 United States Copyright Act, without either the prior written permission of the Publisher, or authorization through payment of the appropriate per-copy fee to the Copyright Clearance Center, Inc., 222 Rosewood Drive, Danvers, MA 01923, (978) 750-8400, fax (978) 646-8600, or on the Web at www.copyright.com. Requests to the Publisher for permission should be addressed to the Permissions Department, John Wiley & Sons, Inc., 111 River Street, Hoboken, NJ 07030, (201) 748-6011, fax (201) 748-6008, or online at www.wiley.com/go/permissions.
Limit of Liability/Disclaimer of Warranty: While the publisher and author have used their best efforts in preparing this book, they make no representations or warranties with respect to the accuracy or completeness of the contents of this book and specifically disclaim any implied warranties of merchantability or fitness for a particular purpose. No warranty may be created or extended by sales representatives or written sales materials. The advice and strategies contained herein may not be suitable for your situation. You should consult with a professional where appropriate. Neither the publisher nor author shall be liable for any loss of profit or any other commercial damages, including but not limited
