“How can I be more effective with my grantmaking?” It’s the age old question for grantmakers and many are turning to the power of analytics. 

The problem with incorporating analytics for effective outcomes-based decision making is how to get started, and what steps to take. This presentation reviews the steps in leveraging predictive analytics — from business objective through to deploying analytics.

The CRoss Industry Standard Process for Data Mining (CRISP-DM) provides a roadmap for implementing advanced analytics into foundations and non-profits. A proven, domain independent methodology has made CRISP the most used approach for data mining and predictive analytics. Part of the presentation is a review and understanding of CRISP and how it may be applied.

Outcomes analysis and an approach to analyzing and developing insight regarding outcomes can be considered within three general dimensions:

1. Descriptive analytics can be used to examine what has occurred and to use that as the point of departure for more in-depth considerations.

2. Predictive analytics involves the creation of models to answer questions, such as forecasting outcomes and predictive what will happen. 

3. Prescriptive analytics considers how to optimize outcomes for the best result in consideration of constraints and requirements

This presentation will walk viewers through the CRISP-DM methodology with a discussion of the pitfalls and advantages offered in each step of the process model. With real-world case studies the presentation will aid in understanding the phases, ensuring a more comprehensive approach to outcomes analysis for foundations and non-profits.

Part 1 of 4.

Part 2: Kicking the Crystal Ball Around: Prediction and Classification

Part 3: Birds of a Feather: Grouping and Segmentation

Part 4: Teach Your Computer to Read: Using Text Analytics in Grantmaking