DATA ANALYTICS
Data Science
Data science encompasses preparing data for analysis which includes cleansing, aggregating, and manipulating the data to perform advanced analysis. The analysis follows strict scientific protocol that ensures high value insights produced from trusted output. Data analysts can then review the results to uncover patterns and enable business leaders to not only draw informed insights but act either operationally, tactically, or strategically.
Summit takes a scientific approach to the data. We collect raw data and look for repeatability and verifiability. Only when data is confirming a strong trend, will we make recommendations for action. Business owners must first have the confidence in their own data to make spending decisions.
The data often indicates trends or cause & effect. We react to what the data tells us. Sometimes we need to evolve a theory and test that against the data (AB testing), before drawing any conclusions.
We will apply testing on a controlled basis, to eliminate extraneous factors on any new initiative, to verify our findings. We will then run discrete pilot programs to test the findings, before rolling them out on a larger scale.
Ideally, businesses will only pay for testing and initiatives from current monthly profits, in preference to using loss leader strategies to drive growth for future profitability.