TABLE OF CONTENTS Chapter No. Subject 1.0 Executive Summary 2.0 Introduction - Objectives of the Study 3.0 Literature Review 4.0 Research Methodology 5.0 Findings 6.0 Conclusion 7.0 Recommendations 8.0 Bibliography Chapter 1.0 Executive Summary EXECUTIVE SUMMARY Business analytics can be defined as the skills, technologies and applications for exploring and investigation past business performance to gain an insight of the business and help drive business planning. Business analytics helps in developing new and deep insights and understanding of business performance based on past data and statistical tools and techniques. It is closely related to the field of management science. Business intelligence can be querying, reporting, OLAP. In other words, querying, reporting, OLAP, and alert tools can help in answering questions such as what happened, how many, how often the problem occurred, where the problem is coming from, and what actions are needed to resolve the problem. Business analytics helps in answering questions like why a certain thing is happening; what if these trends continue in the future and what is the best that can happen in the current scenario etc. Business analytics depends on the type, quality and quantity of the data. The difficulty in ensuring the quality of the data is integrating data across different ... ... middle of paper ... ...ght amount of data from the right source at a consistency. • More training should be given to employees for handling various analytical tools. • Companies should try to bring an analytical culture for effective functioning of the workforce. Chapter 8.0 Bibliography BIBLIOGRAPHY • http://epress.anu.edu.au/wp-content/uploads/2012/10/ch10.pdf • http://www.waset.org/journals/waset/v69/v69-45.pdf • http://en.wikipedia.org/wiki/Business_analytics • http://www.infosys.com/industries/aerospace-defense/white-papers/Documents/business-analytics.pdf • http://citeseerx.ist.psu.edu/viewdoc/download?doi=10.1.1.13.3005&rep=rep1&type=pdf • http://www.sas.com/offices/europe/uk/businessanalytics/research-report.pdf • https://www-950.ibm.com • http://www.bileader.com
Data Analytics has significantly grown in less than two years, this quick growth has caused the company to evaluate the IT environment and its ability to support the growth and secure the data of the company. The CEO is expecting the company to grow 60% over the next two years; with the success of the company it has been determined that a change to the current IT environment and infrastructure must occur to better support the employees and the customer base.
As a child growing up I was taught that being a business man was substantial in becoming a man. My father always made it his responsibility to engineer the foundation of business. His main goal for his son was to become an entrepreneur. Unfortunately, I became interested in a different field. With the same intentions of staying in business, business analyst grew on me unexpectedly. My father being the disciplinarian kept me business orientated but sports had an effect as well. Life began to hit me once I was leaving High School. As a high school student, I chose to take business classes but my attention was more so in sports. As a basketball player for 1-2 years and taking business classes, I became distracted in finding my career until I took this business class. The business class involved analyzing a business organization to examine its weakness and
Society plays a huge role in implementing systems that affect our moral beliefs. More and more, we as United States citizens are asked continually to compromise our moral standards and accept the boundaries and rules that are supported by the government. As upcoming leaders of tomorrow, it is an innate duty to serve the public in a righteous manner. According to Colossians 3:17, “And whatever you do or say, do it as a representative of the Lord Jesus, giving thanks through him to God the Father” (Colossians 3:17, NLT). Advances in technology are rising consistently. Technological advances are making jobs harder to find and obtain. This advancement will make it hard for the Generation Y population. The Generation Y population will have to not only have to compete with specialized and bilingual applicants, but technology that can do what that individual has acquired a degree in. The world is steadily advancing and causing one to wonder just what jobs will be left for us in the future.
Sallam, Rita L; Tapadinhas, Joao; Parenteau, Josh; Yuen, Daniel;Hostman, Bill (2014, February 20). Magic quadrant for business intelligence and analytics platforms. Retrieved from http://www.gartner.com/technology/reprints.do?id=1-1QLGACN&ct=140210&st=sb
Before I entered college, I already had an idea of what I want to study and pursue in my future. In Middle school, I found Math and Geometry incredibly enjoyable, and I was always good at solving various quantitative problems. In High School I took my first economics class, and I could not find anything more interesting and engaging than this subject. Enjoying quantitative courses in school and having many family members working in the business field, I made a decision to pursue my higher education in economics and business and I could not see myself in any other field. At Cornell, Economics and Business Department offers a variety of majors with different concentrations. My deep interest in Business Analytics arose after I took my first
Companies have transformed technology from a supporting tool into a strategic weapon. ”(Davenport, 2006) In business research, technology has become an essential means that many organizations use in their daily operations. According to the article, Analytics is a major technological tool used. It is described as “the extensive use of data, statistical and quantitative analysis, explanatory and predictive models, and fact-based management to drive decisions and actions.
Google analytics can be applied in big as well as small businesses to support decision-making processes. In sense, each kind of business has its own
You may ask what big data analytics is. Well according to SAS, the leading company in business analytics software and services describes big data analytics as “the process of examining big data to uncover hidden patterns, unknown correlations and other useful information that can be used to make better decisions.” As the goal of many companies which is to seek insights into the massive amount of structured, unstructured, and binary data at their disposal to improve business decisions and outcomes, it is evident why big data analytics is a big deal. “Big data differs from traditional data gathering due to that it captures, manages, and processes the data with low-latency. It also one or more of the listed characteristics: high volume, high velocity, or high variety. Big data comes from sensors, devices, video/audio, networks, log files, web, and social media which much of it is generated in real time and in a very large scale.”(IBM) In other words, companies moving towards big data analytics are able to see faster results but it continues to reach exceptional levels moving faster than the average person can maintain.
First of all, business intelligence analysis requires the capturing of information and storing in a single location for effective data analysis. Currently, data analysis is supported by transactional systems, business specific data marts, and other ad-hoc processes. Information is distributed making it difficult and time-consuming to access. Business teams have adapted to this environment by creating user maintained databases and manual “work-arounds” to support new types of reporting and analysis. This has resulted in inconsistent data, redundant data storage, significant resource use for maintenance, and inefficient response to changing business needs.
All companies obtain information on their customers or on their product. All these information may help a business to develop new strategies. They can also forge ahead by treating these big data. All companies have in their possession those information, so use it can be very useful. A company can identify for example their weaknesses and can improve their strategy to become the best on the market. It will help to create more opportunities for the company and maybe create a real competitive advantage.
In order to assess the current state of the economy, the examination of important economic indicators or variables has always played a vital role in the understanding of the complex economic systems we live in. The analysis of these economic variables studied by many, not only has served as a tool to evaluate the current economic performance of a country, but also has allowed experts to envisage and continue the pavement of an economy's road. Currently, some economic variables have had favorable improvements indicating a general good outlook for the economy for the following months, requiring a further individual analysis and comparisons in order to foresee crisis or successes.
Customer Relationship Management (CRM) is another field where A.I. is used. There is no doubt that the internet has changed the way that businesses and corporations interact with their customers, and A.I. helps by offering a myriad of data about the customersuch as their demographics and purchasing history. A.I. offers analytics in real-time, greatly benefitting the company as it works to improve its marketing and ultimately its profits.
Robbins et al. (2011, p. 186), states ‘Change is an organizational reality and affects every part of a manager’s job’. Today’s wave of change primarily created by economic condition so change is now such a constant feature of organization life (Goodman, E. 2011, p.243). Organizations need to be changed at one point or another in structure, technology or people. These changes are defined as organizational change (Robbins et al. 2011, p.18). Organizational change is important because changes can increase effectiveness and efficiency, the innovation of products, services as well as dealing with changes in external and internal forces (Goodman, E. 2011, p.243). However, ‘the bottom line is that organizational change is difficult because management systems are design and people are rewarded for stability’ (Lawler, E.E. & Worley, C.G. 2006, p.11).
Todays emerging trends are numerous. It is hard to name more than couple of them top of our heads, but when we read about it; it is surprisingly schocking. We often overlook them as a simple new and popular trends, but their affects are dramatically everywhere. Althought they seem innocent, they often come with a tail. We as humans simply adapt these trends not thinking what it would bring us in the future.
Business intelligence, or BI, is an umbrella term that refers to a variety of software applications used to analyze an organization’s raw data. BI as a discipline is made up of several related activities, including data mining, online analytical processing, querying and reporting. Data mining is the process of sorting through large amounts of data and picking out relevant information. It is usually used by business intelligence organizations, and financial analysts, but is increasingly being used in the sciences to extract information from the enormous data sets generated by modern experimental and observational methods.