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“Inflection point” is a data analytical method that Business Intelligence people can use to find a point that can change the user behaviors and business performances. It usually applies to make decisions, design business and marketing strategies or plans in short and long-term.
Introduction
In mathematics, Inflection Point refers to a point in a graph showing the change of a curve from concave to convex. An inflection point occurs when the curve goes from concave downward to concave upward and vice versa.
In business, an Inflection Point refers to a point where a company, economy, industry or sector experiences a significant change resulting from certain events. The change can either be positive or negative depending on the underlying events. The vital points to know about an inflection point are;
- An inflection point is a point on a graph that shows the change of a curve from concavity to convexity.
- An inflection point also refers to the turning point in the progress of a company, industry, sector or economy in which a significant change occurs.
- The significant change could give positive or negative results depending on the situation.
The importance of “Inflection point” in business
Inflection Point is used as a charting model to show the direction or turning point of a curve in response to an event. Inflection Point is a part of decision-making progress.
Inflection Point is not a decision point itself, it helps decision-makers to have a look at the changes and predict the outcome afterwards.
To apply Inflection Point to data analytics, Business Intelligence Analyst must understand the business context of the questions or requests and identify the exact problems or root causes from the information gathered. Data is the starting point and BI needs skills to analyze the rise and fall of trends, recognizing inflection points versus outliers in the data.
Beside inflection points, information about the market, industry and competitors is parts of the decision-making process, making the decision-making process clear and balanced between internal and…
