on the analysis on an ongoing basis is actually very common. An example of such a
continuous feedback loop might be a bank's decision to raise or lower the loan rate. The
bank gathers information about loan applications and loan payments. Then, the bank
digests that information and decides to raise or lower loan rates. The bank raises the rate
and then tests to see what the results have been. Such is an example of an open-ended
continuous analytic loop.
The other type of analytic system is a project-based analysis. In a project-based analysis,
the intent is to do the analysis just once. For example, the government may do an analysis
on how many illegals have been integrated successfully into society. The intent is to make
such a study exactly once. There may be safety studies conducted by an automobile
manufacturer. Or there may be chemical analysis of a product. Or there may be a study
about the content of ethanol in gasoline and so forth. There can be any sort of and any
number of onetime studies.
Fig. 9.1.1 shows that there are two types of analytic studies.
Fig. 9.1.1 Two types of analytics.Whether a study is one time or ongoing greatly affects the infrastructure surrounding the
study. In a continuous study, there needs to be an ongoing infrastructure that is created.
In a onetime study, there is a very different infrastructure that is created.
Chapter 9.1: Repetitive Analytics: Some Basics