What are your data analytic opportunities.

I was reading this article about "big data" that really has relevance regarding data analytics regardless the amount of data you actually have to analyse.

http://bigdataanalyticsnews.com/7-things-must-know-big-data-adoption/

One of the things it highlighted was how to focus on data opertunities:

"1. It’s All About Identifying Big Data Opportunity

"Research undertaken by MGI and McKinsey’s Business Technology Office looked at the use of big data in five domains. It found that if used well, it could make businesses in most of these domains much more profitable. For example, retailers’ operating margins can increase by a whopping 60% just by leveraging big data’s potential.

If you want to use big data effectively, the first thing you must zero in on is the opportunity. Identify the specific business processes that can get a shot in the arm if you can get hands on key insights through big data. You will need to identify the process/activity that creates the biggest benefit.

 

To do this, you will need to identify a particular business problem that remains unsolved in spite of your best efforts. Ask yourself this question: Will getting big data insights solve the problem? Start from there and move onwards."

What data content would make a difference to you and your business?

For me the two items that come to mind are:

  • Seat History, in order to better understand and manage holds.
  • Transaction Data, in order to understand the total value of customers, tickets, fees and contributions.

To date these two data sets have been considered by some, too big to report on.

In the spring of this year we took a first cut at looking at the transaction data in an experimental fashion using Microsoft's Power Pivot and Power Query.  When an opportunity opens in our schedule we will start to take a look at Seat History as well.

What data sets do you wish you had?  And what insight would you hope to derive?