What Does Actionable Insight Mean?
Actionable insight is a term in data analytics and big data for information that can be acted upon or information that gives enough insight into the future that the actions that should be taken become clear for decision makers. It is often the result of extensive data analytics and other data processing; in short it is an analytics result that provides enough data for managers and organizations to make an informed decision.
Techopedia Explains Actionable Insight
Actionable insight is the result of data-driven analytics in the business world. Vast amounts of data are analyzed to find patterns such as spending habits, market upheavals and downturns, and other market and financial patterns that may help an analyst formulate a business plan. Data analytics is used to answer “why” questions by capturing large amounts of data and then running them through analytics software and data visualization tools. These tools in turn provide insights into the patterns that are inherent to the market. Once there is enough insight that a proper course of action can be made from it, then this result is considered as an actionable insight.
This is often used in big data and marketing. Rich analytics tools with massive visualization options and smart analytics capabilities are becoming increasingly available through the cloud, giving even small companies the edge to compete in a tight business environment. With these tools, it is easier to derive actionable insights that can help management make correct decisions.
