Modern Business Analytics: The Power of Synthesis
The ancient roots of business analytics can be traced back over 2,300 years to the timelessly wise insights of Classical Greek philosophers. Through their philosophical discussions on geometric shapes, Aristotle's logic emerged as the cornerstone that laid the foundation for modern-day data analysis.
Today, the field of business analytics is expanding exponentially. Ancient Greek ideas and philosophies merge seamlessly with postmodern technologies like computer programming, machine learning, and data visualization. This fusion of mathematics, statistics, and philosophical science has transformed business analytics into an always-evolving and progress-driving art and science.
In this blog post, we'll examine the integral role of analytics in decision-making, the often-neglected importance of synthesis, and how Ilion understands the synergistic value of synthesis and analysis.
Business Analytics: The Key to Informed Decision-Making
In the age of big data, businesses are able to extract progress-providing insights by interrogating vast amounts of information. Business analytics plays a pivotal role in identifying trends and exceptions that directly impact decision-making. These precise and punctual insights can instantly be inserted into business strategies or fed into predictive models, enabling organizations to make the kinds of highly informed choices that catalyze success.
Recognizing the potent importance of analytics, industry experts like Gartner suggest expanding the traditional production triangle to include Data or Analytics as a fourth corner - alongside People, Process, and Technology.
The Oft-overlooked Significance of Synthesis
Despite the abundance of knowledge about the analytical process, synthesis tends to typically be overlooked. Hegel's dialectic, particularly the concept of synthesis, tends to be underestimated, despite Aristotle hinting at its importance even before the term was introduced by Johann Gottlieb Fichte in the 18th century.
Aristotle's words from On Sophistical Refutations shine a light on the value of synthesis where he illustrates that analysis alone lacks meaning without synthesis. While analysis breaks down facts or concepts into smaller parts, synthesis reconstructs these fragments into a cohesive whole, creating a unified concept from multiple causes.
"Sometimes too it happens as with diagrams; for there we can sometimes analyze the figure, but not construct it again: so too in refutations, though we know on what the connection of the argument depends, we still are at a loss to split the argument apart."
The Symbiotic Relationship between Synthesis + Analysis
Synthesis not only follows analysis -- but also acts as a catalyst for analysis. In Nicomachean Ethics Aristotle highlights this relationship:
"Having set the end, they consider how and by what means it is to be attained; and if it seems to be produced by several means, they consider by which it is most easily and best produced until they come to the first cause, which in the order of discovery is last."
Synthesis and analysis are intertwined in a synergistic feedback loop. Working in harmony, they provide a synoptic analytical method that involves regressing from desired outcomes towards proven facts or concepts, ultimately leading to a more deeply thorough understanding of the subject matter.
Ilion's Equalized Emphasis on Synthesis + Analysis
Because we so intricately understand -- through both knowledge and experience -- the transformative power of synthesis, we believe, like Aristotle, that analysis devoid of synthesis lacks meaning.
To consistently deliver impactful results, we emphasize an intimate and interdependent understanding of your business, its environment, and its performance drivers. Our approach is informed by the accurate interpretation of business problems through specialized questioning, understanding the underlying data that fuels the analysis, and interpreting the findings in a way that makes actionable sense to your organization.
As businesses navigate the complex landscape of data analytics, recognizing the value of synthesis is paramount. The marriage of analysis and synthesis enables organizations to open up the full potential of their data, facilitating informed decision-making and driving strategic growth.
Our exhaustive understanding of synergized synthesis and analysis allows us to provide actionable insights tailored specifically to your unique business needs.