Organizations are capturing data at an ever-increasing rate. What can we learn from it? How can we communicate what we find in the most effective way possible? Enter Analytics and Decision Support!
Analytics is the science of extracting patterns, trends, and actionable information from large sets of data. While often used interchangeably with the term "business intelligence" or BI, there is a difference. BI is the monitoring and reporting of real- or near-time data and historical trends needed to run an organization efficiently. Analytics involve exploring historical data from many source systems and building analytics solutions that provide insight into information that can drive organizational effectiveness and change.
Decision Support is a broader term that includes analytics as one way to support decision-making on campus. Other ways include participation in benchmarking studies and analysis of peer groups, literature review, environmental scanning, statistical analyses and then summarize, analyze and present findings in various formats.