14. What is a maturity model? Describe the Gartner Maturity Model for Analytics.
14. What is a maturity model? Describe the Gartner Maturity Model for Analytics.
Business Model:-
Business model is the company's main strategy for doing business profitably. Models often include details such as the products or services the business plans to sell, target markets, and any expected costs. Two business model levers in price and cost.
Maturity Model:-
Maturity model is a tool that helps people assess the current performance of an individual or group and supports to find out what skills they need to acquire next in order to improve their performance. ... Maturity models are classified as a series of performance standards.
Gartner Maturity Model For Analytics:-
Gartner incorporates maturity of data analytics based on the ability of the system to not only provide information, but directly assist in decision-making. Many mature analysis systems can allow IT teams to predict the impact of future decisions and come to the conclusion of an appropriate option.
Gartner's four-step model of data analytics can help assess the current state of business IT systems and analyze the most appropriate way forward. The four categories, respectively, are:
Descriptive statistics: It can tell you what is happening in your organization
Diagnosis: You can tell why it goes on
Guess: It can tell you what will happen or is likely to happen
Definition: You can tell what to do about it
When establishing challenges and needs to be addressed by an IT analytics solution, decision makers can evaluate the potential of the solution depending on the stage, organization, and where it wants to be in the near future. This consideration may allow IT leaders to set goals that allow for direct comparisons between available solutions and existing analytics vendors and their products.
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