“It is a capital mistake to theorize before one has data. Insensibly one begins to twist facts to suit theories, instead of theories to suit facts,” said Sherlock Holmes in Sir Conan Doyle’s A Scandal in Bohemia. Although Holmes was discussing evidentiary facts, his sentiment would fit perfectly in today’s world of analytics, a world Holmes would have been fascinated by.

Today, analytics are everywhere. It’s an indispensable tool for business. Executives use it to understand their business, acquire customers, market to customers, reduce customer churn, dynamically price tickets for planes, trains, hotel rooms, and casino table seats. Everything from customer acquisition, customer personalization, and customer churn use analytics.

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