BUSINESS ANALYTICS IMPLEMENTATION PLAN PART 1
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BUSINESS ANALYTICS IMPLEMENTATION PLAN PART 1
Name:
Professor:
Argosy University
Data Driven Decision Making MGT334
09/15/2015
TABLE OF CONTENTS
CHAPTERS
CHAPTER 1 – Introduction ...........................................................................................3
CHAPTER 2 –Description of the business......................................................................3-4
CHAPTER 3 – Benefits of business analytics....................................................................4-6
CHAPTER 4 –Disadvantages of business analytics .......................................................6
CHAPTER 5 –Challenges of business analytics ...............................................................7-8
CHAPTER 6- Business analytic techniques...................................................................8-9
CHAPTER 7- Implementation of business analytics plan....................................................9-10
CHAPTER 8- Backupproposal.........................................................................................10-11
CHAPTER 9- Conclusion.......................................................................................................11
CHAPTER 10 - References list..............................................................................................12
BUSINESS ANALYTICS IMPLEMENTATION PLAN PART 1
INTRODUCTION
Numerous business organizations endeavors are willing to implement business analytics to assist them with cutting the expense and raise incomes. These organizations may confront an unchartered domain in the zone of business analytics and need help with how to understand usage come ups. Among those issues are a mapping business expects to examination, assets, spending plan, information comprehension, and arranging. The motivation behind this arrangement is to help organizations in managing those issues(In Wang, 2007).
For the purposes of this policy, we will equate analytics with the ability to predict the probability of an occurrence or an event in the future. Companies are using analytics in many ways to predict the likelihood of
• Transactions that have much potential to be fraudulent in market surveillance institutional trading and health care claims to process.
• Clients that should be aimed to buy different software products that are together.
• The failure of machine parts within a particular product at the customer site and during the manufacturing process.
Description of the business
Business analytics is skills, techniques practices for continuous iterative exploration and investigation of past performance of the enterprise to gain and drive business planning. It is therefore well known that business analytics makes extensive use of statistics analysis of explanatory and predictive modeling and fact-based management to drive decision making. Occasionally, analytics may be used as an input for human decisions or may drive fully automated decisions. An example of a business that can apply the use of analytics is the banks. Banks can use data analysis or analytics the way it is known in business settings to differentiate among customers. All these get a base on the credit risk, usage, and other characteristics and then to match clients characteristics with appropriate product offerings. As a result, it will prove to be beneficial to the bank due to the easiness in dealing with the customers.
Benefits of business analytics.
Big data analytics brings immense...