Discussion- 4q1 4q2

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Discussion-4q1 4q2

Discussion-4q1 4q2

4q1aw

Analytics are a crucial component in ensuring the organization staysat the edge over its competitors. The application of businessanalytics is essential in helping organizations identifyopportunities and capitalize on them (Muehlen &amp Shapiro, 2015).The analytics are critical in providing the organization with crucialinformation regarding the overall process of making decisions neededfor the day to day running of activities (Vera-Baquero,Colomo-Palacios, &amp Molloy, 2013). The use of such data in theorganization means that the firm has a reliable framework for makingdecisions. The analytics are essential in enabling the organizationto gain insights on various issues related to business operations. Itserves as an opportunity for the organization to optimize the entiredecision-making process (Chen, Chiang, &amp Storey, 2012).Overall, firms need to acknowledge the fact that the data theypossess is a valuable asset that could serve as and a leverage towardgaining a competitive advantage over other organizations.

4q2ds

The ability to achieve useful results from a statistical test dependson the sample and data collection methods that have been employed.The sample used dictates the overall method of data collection thatwould eventually determine the statistical methods used for analysis(UCLA Institute for Digital Research and Education, 2015).Appropriate sampling techniques must be employed to help have adeeper comprehension of the data. Data is meaningful only when it canbe understood by those in need of the same (Liu &amp Arora, 2011).An established framework should guide the entire process ofidentifying the sample to be used and how the data would becollected. Through the same, it would be possible to employ the rightstatistical methods to analyze the data and derive useful informationto guide in decision-making (UCLA Institute for Digital Research andEducation, 2015). However, it is essential to align the entiresampling techniques, data collection and statistical analysis methodsto the needs of the organization to avoid possibility of gettingerrors (Nuzzo, 2014).

References

Chen, H., Chiang, R. H. L., &amp Storey, V. C. (2012). BusinessIntelligence and Analytics: From Big Data To Big Impact. MisQuarterly, 36(4), 1165–1188.http://doi.org/10.1145/2463676.2463712

Liu, Q., &amp Arora, N. (2011). Efficient Choice Designs for aConsider-Then-Choose Model. Marketing Science, 30(2),321–338. http://doi.org/10.1287/mksc.1100.0629

Muehlen, M. Zur, &amp Shapiro, R. (2015). Business processanalytics. In Handbook on Business Process Management 2: StrategicAlignment, Governance, People and Culture, Second Edition (pp.243–264). http://doi.org/10.1007/978-3-642-45103-4_10

Nuzzo, R. (2014). Scientific method: statistical errors. Nature,506(7487), 150–2. http://doi.org/10.1038/506150a

UCLA Institute for Digital Research and Education. (2015). Choosingthe Correct Statistical Test in SAS, Stata and SPSS. [OrganizationWebsite], 33–37. Retrieved fromhttp://www.ats.ucla.edu/stat/mult_pkg/whatstat/

Vera-Baquero, A., Colomo-Palacios, R., &amp Molloy, O. (2013).Business process analytics using a big data approach. ITProfessional, 15(6), 29–35.http://doi.org/10.1109/MITP.2013.60

Discussion- 4q1 4q2

  • Uncategorized

Discussion-4q1 4q2

Discussion-4q1 4q2

4q1aw

Business analytics is a crucial component in ensuring theorganization stays at the edge over itscompetitors. The application of business analytics helpsorganizations identify opportunities andcapitalize on them (Muehlen &amp Shapiro, 2015). The analytics iscritical in providing the organization with information needed formaking decisions in running day to day activities of the business(Vera-Baquero, Colomo-Palacios, &amp Molloy, 2013). The use ofsuch data in the organization means that the firm has a reliableframework for making decisions. Analytics enables theorganization to gain insights on various issues related tobusiness operations. It serves as an opportunity for the organizationto optimize the entire decision-making process (Chen, Chiang, &ampStorey, 2012). Overall, firms need to acknowledge the fact that thedata they possess is a valuable asset that serves as a leveragetowards gaining a competitive advantageover other organizations.

4q2ds

The ability to achieve useful results from a statistical test dependson the sample and data collection methods employed. The choice ofsample used should define the method of data collection that wouldeventually determine the statistical methods used for analysis (UCLAInstitute for Digital Research and Education, 2015). Appropriatesampling techniques must be employed to help have a deepercomprehension of the data. Data ismeaningful to the extent that it can be understood by those in needof it (Liu &amp Arora, 2011). An established framework shouldguide the entire process of identifying the sample to be used and howthe data would be collected. It would bepossible to employ the right statistical methods to analyze the dataand derive useful information to guide in decision-making(UCLA Institute for Digital Research and Education, 2015). However,it is essential to align the entire sampling techniques, datacollection and statistical analysis methods to the needs ofthe organization to avoid possibility of getting errors (Nuzzo,2014).

References

Chen, H., Chiang, R. H. L., &amp Storey, V. C. (2012). BusinessIntelligence and Analytics: From Big Data To Big Impact. MisQuarterly, 36(4), 1165–1188.http://doi.org/10.1145/2463676.2463712

Liu, Q., &amp Arora, N. (2011). Efficient Choice Designs for aConsider-Then-Choose Model. Marketing Science, 30(2),321–338. http://doi.org/10.1287/mksc.1100.0629

Muehlen, M. Zur, &amp Shapiro, R. (2015). Business processanalytics. In Handbook on Business Process Management 2: StrategicAlignment, Governance, People and Culture, Second Edition (pp.243–264). http://doi.org/10.1007/978-3-642-45103-4_10

Nuzzo, R. (2014). Scientific method: statistical errors. Nature,506(7487), 150–2. http://doi.org/10.1038/506150a

UCLA Institute for Digital Research and Education. (2015). Choosingthe Correct Statistical Test in SAS, Stata and SPSS. [OrganizationWebsite], 33–37. Retrieved fromhttp://www.ats.ucla.edu/stat/mult_pkg/whatstat/

Vera-Baquero, A., Colomo-Palacios, R., &amp Molloy, O. (2013).Business process analytics using a big data approach. ITProfessional, 15(6), 29–35.http://doi.org/10.1109/MITP.2013.60

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