Quick Insights Based on Machine Learning Models
Intended audience: END-USERS DATA SCIENCE DEVELOPERS
AO Easy Answers: 4.3
Overview
Quick Insights can be generated at runtime by the user from Apps on the Easy Answers Results page, or from a scheduled task created by the Solution Developer using the Insight Composer in the AO Platform. The available Quick Insights are divided into the following groups.
Decoding Quick Insights for Business Users
Quick Insights are essential tools for making informed business decisions. By leveraging these Insights, organizations can validate hypotheses, uncover trends, and make strategic choices based on data rather than intuition. However, the key to the effective use of Quick Insights lies in understanding the business context and the specific questions you aim to answer.
Key Questions to Consider Before Analysis
Before diving into any Quick Insight analysis, it's crucial to clarify the purpose or question that the analysis aims to answer. Here are three key questions to guide this process:
What Action Should We Take?
Context: When stakeholders observe certain trends or patterns, they often seek to understand the underlying causes to take actionable steps.
Application: Quick Insights like Correlation analysis or the Chi-square test can help identify significant factors or variables that contribute to these trends, guiding decision-makers on where to focus their efforts.
Which Option Should We Choose?
Context: In scenarios such as A/B testing, businesses often need to choose between two or more options, such as different marketing strategies or product features.
Application: Tests like the T-test or ANOVA (Analysis of Variance) are used to compare different options, helping businesses make data-driven decisions about which approach will yield the best results.
How Do We Execute?
Context: After deciding on a course of action, businesses need to ensure effective execution by leveraging data-driven insights.
Application: Using forecast models, trend analysis, and outlier detection, companies can predict potential outcomes, identify significant patterns, and anticipate deviations. This approach helps in optimizing the implementation process, such as forecasting sales trends based on budget allocation and identifying any unusual patterns that may require adjustments.
Why Statistical Insights Matter
Understanding and applying these Quick Insights can greatly enhance a business’s ability to make informed decisions. By leveraging Forecasts, you can prepare for the future; with Trend Lines, you can stay informed on general patterns; Outlier detection allows for quick identification of potential issues; Change Point detection helps in understanding the effectiveness of new initiatives; Periodic Estimation aids in resource planning, and Causal Inference enables you to understand the true impact of your decisions.
These tools are not just about crunching numbers - they're about gaining deeper insights that drive better business outcomes. Whether you’re in marketing, finance, operations, or product development, these insight analyses will provide you with the data-backed confidence to lead effectively.
Quick Insight analysis is an indispensable part of modern business strategy. By understanding and utilizing tools like Forecasting, Trend Lines, Outliers, Change Point Detection, Periodic Estimation, and Causal Inference, businesses can turn data into actionable insights. This enables better planning, decision-making, and execution, ultimately leading to more successful outcomes.
Generating Quick Insights for Apps
The Quick Insights creation is available from the Options menu for the generated Apps on the Easy Answers dashboard.
Insights - opens the Insights dialog.
The Insights dialog shows the available Quick Insights appropriate to the App (and data) it was requested for, - allowing the user to select one or more Insights to be generated.
Click the Configure button to open a dialog with the available configuration properties per Insight.
Click the Generate Selected Insights button in the main dialog to generate the Insights.
Notifications and Insights Task Viewer
While the generation of Insights takes place, the user will receive Notifications and the progress can also be monitored if opening the Insights Task Viewer from the User menu. See Notifications and Viewing Insight Tasks for details.
Viewing Quick Insights Results
The Quick Insights will be shown on the Insights tab when generated by the user. Click the expand icon for the App and the Insights tab can be found in the bottom half of the dialog.
Multiple charts can be generated for each Quick Insight based on the configuration of the Analyze By property. Each generated Quick Insight will be shown using the Infographic representation on the Insights page and corresponding Full Story details Chart/Textual Insight in a full-screen popup.
Options menu
Add to Dashboard - this option is only available from a specific card for Quick Insight and allows the user to add the card to a Named Dashboard.
Add to Insight Feed - this option will add the Quick Insight to the Insights page to share with other users.
Footer options
Thumbs Up/Down - click on either icon to provide your sentiment on the value of the shown Quick Insight Infographic card. If a Quick Insight Infographic card is added to the Insights Feed page, the user can Filter the cards based on Rating and that will take into considerations the recommendations based on clicking these icons.
Share - click to allow sharing a Quick Insight Infographic card with other users. This functionality is similar to sharing a Query. See Sharing a Query.
Add Favorite - click to add the Quick Insight Infographic card as a Favorite. If a Quick Insight Infographic card is added to the Insights Feed page, the user can Filter the cards based on showing Favorite cards only. Look for the Favorite icon in the Header section of the Insights page.
Comment - click to add one or more Comments about the Quick Insight Infographic card. The Full Story dialog will open and the cursor will go to the Comments tab ready for Comments to be entered.
Full Story - click to open the Full Story dialog to view the details of the Quick Insight generated, including tabs for Data, Comments, etc…