...companies in every industry are using analytics to replace intuition and guesswork in their decision-making. As a result, managers are collecting and analyzing enormous data sets to discover new patterns and insights and running controlled experiments to test hypotheses. This course prepares students to understand structured data and business analytics and become leaders in these areas in business organizations. This course teaches the scientific process of transforming data into insights for making better business decisions. It covers the methodologies, algorithms, issues, and challenges related to analyzing business data. It will illustrate the processes of analytics by allowing students to apply business analytics algorithms and methodologies to real-world business datasets from finance, marketing, and operations. The use of real-world examples and cases places business analytics techniques in context and teaches students how to avoid the common pitfalls, emphasizing the importance of applying proper business analytics techniques. In addition to cases, this course features hands-on experiences with data collection using Python programs and analytics software such as SAS Enterprise Guide. Throughout the semester, each team works to frame a variety of business issues as an analytics problem, analyze data provided by the company, and generate applicable business insights as a secondary objective, while also learning essential business analytics techniques. Students benefit...
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...to exploit? True / False Questions 1. (p. 7) Globalization refers to the shift toward a more integrated and interdependent world economy. TRUE AACSB: Analytic BT: Knowledge Difficulty: Easy Learning Objective: 1-1 Topic: What Is Globalization? 2. (p. 7) Tastes and preferences of consumers in different nations are beginning to converge on some global norm. TRUE AACSB: Analytic BT: Knowledge Difficulty: Easy Learning Objective: 1-1 Topic: What Is Globalization? 3. (p. 7) A company has to be a major multinational corporation to facilitate, and benefit from, the globalization of markets. FALSE AACSB: Analytic BT: Knowledge Difficulty: Medium Learning Objective: 1-1 Topic: What Is Globalization? 4. (p. 7) In Germany, 98 percent of small and midsize companies have exposure to international markets. TRUE AACSB: Analytic BT: Knowledge Difficulty: Easy Learning Objective: 1-1 Topic: What Is Globalization? 5. (p. 8) Currently, the most global of markets are for industrial goods and materials that serve a universal need the world over. TRUE AACSB: Analytic BT: Knowledge Difficulty: Easy Learning Objective: 1-1 Topic: What Is Globalization? 6. (p. 8) As firms follow each other around the world, greater diversity replaces uniformity. FALSE AACSB: Analytic BT: Knowledge Difficulty: Easy Learning Objective: 1-1 Topic: What Is Globalization? 7. (p. 10) Substantial impediments such as...
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...Analytics as a Service POV Bhagyashree V1 The no-pain route to analytics Analytics, the trend sweeping businesses There is a new corner office and it belongs to the Chief Analytics Officer (CAO). For businesses with access to large data streams, analytics holds the key to making fast and accurate decisions. CAOs can now use data for a variety of purposes. It can help manage operational efficiencies, discover customer needs, identify new markets, give shape to new products and value-added services and develop defensible differentiators. In other words, the onus to support the organizational business strategy now falls upon the CAO. And assisting CAOs with this goal is the science of analytics. Analytics is being recognized as a key business differentiator across the industries. All business functions in every organization recognize the need of quality data to drive decisions. In this competitive world, every critical decision counts CAOs are tasked to make this data and insights to make it available to anyone, anytime and anywhere. —In the current digital era, lack of actionable insights means loss of business momentum, customer attrition and erosion of market share. CAOs are therefore careful when they embark upon the analytics transformation journey. They know it requires the ability to balance the business landscape with technological developments. Through targeted business and technology capabilities realized by a proven methodology that prepares , analyses and visualizes...
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...all the advances in technology and science numbers still are the first things that people go to when they are trying to decide on the value of just about anything. Even more so people love numbers that are easy and straightforward like the ones I have already given. Those numbers do not seem like anything other then numbers put in a paragraph for effect. But they go straight to the heart of everything that modern analytics has tried to accomplish. What are those numbers? Well the first two are the respective team payrolls for the New York Yankees and the Oakland Athletics. The Yankees, the evil empire as they are affectionately referred to as, perennially have had the highest team payroll in all of baseball and the spend big to win big philosophy has paid huge for them as the team has won a record 27 world series titles. Oakland on the other hand has been one of the leagues cheapest teams for well over the last twenty years easily not spending in almost 4 years on their team what the Yankees do in one. How does this pertain to analytics and its business world applications? Well the second set of numbers tell that story, as those are the win totals last year for both the Yankees and the A’s. It was the Oakland A’s who back in the early 2000’s began to embrace “Sabermatrics” or the analytical approach to judging talent and acquiring players to their entire organization. As a result despite being in the situation where they are being outspent by their competition for the...
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...all the advances in technology and science numbers still are the first things that people go to when they are trying to decide on the value of just about anything. Even more so people love numbers that are easy and straightforward like the ones I have already given. Those numbers do not seem like anything other then numbers put in a paragraph for effect. But they go straight to the heart of everything that modern analytics has tried to accomplish. What are those numbers? Well the first two are the respective team payrolls for the New York Yankees and the Oakland Athletics. The Yankees, the evil empire as they are affectionately referred to as, perennially have had the highest team payroll in all of baseball and the spend big to win big philosophy has paid huge for them as the team has won a record 27 world series titles. Oakland on the other hand has been one of the leagues cheapest teams for well over the last twenty years easily not spending in almost 4 years on their team what the Yankees do in one. How does this pertain to analytics and its business world applications? Well the second set of numbers tell that story, as those are the win totals last year for both the Yankees and the A’s. It was the Oakland A’s who back in the early 2000’s began to embrace “Sabermatrics” or the analytical approach to judging talent and acquiring players to their entire organization. As a result despite being in the situation where they are being...
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...Introduction Sprint has nearly 54 million customers and offers a host of products for consumers, businesses and government. The company recently began using analytics tools to try to make sense of the mountains of data created by Sprint network users on a daily basis. With approximately 70,000 employees worldwide and nearly $27 billion in annual revenues, Sprint is widely recognized for developing, engineering and deploying state-of-the-art network technologies, including the United States' first nationwide all-digital, fiber-optic network and an award-winning Tier 1 Internet backbone. Sprint provides local voice and data services in 18 states and operates the largest 100-percent digital, nationwide wireless network in the United States. The decision to focus our project on Sprint was based on a couple of factors. Sprint is currently the 3rd largest telecom operator in USA and with the recent take over by SoftBank the prospects to grow look promising. This provides a clear opportunity to help the business grow using analytics. Secondly because of our connections in the company we were able to get more information on Sprint’s analytics strategy and future plans. Recommendations Sprint Telecom is part of an industry, which is one of the largest providers of data in the world. Sprint’s initial big data steps have been in the right direction. They have successfully used their current data sets for quick profits and short-term results. It is now time to take the jump...
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...Data Analytics xxxxxx Professor xxxx CIS500: Information System Decision Making April 17, 20xx Strayer University The New Frontier: Data Analytics Abstract The word “tweet” was first defined as “a chirping noise” whose origin dated back to 1768. Since 2011, Merriam Webster dictionary extends that definition to mean “a post made on the Twitter online messaging service”. Mention of the adoption of “tweet” into the Merriam Webster Dictionary is designed to illustrate two main points; that information can be ambiguous and that technology can reweave the very fabric of human culture. According to research done by Zikopoulos, Eaton, Deroos, Deutsch, & Lapis (2012), there exists 800,000 petabytes (PB) of data stored in the world in the year 2000. By their estimates, that number could reach 35 zettabytes (ZB) by the year 2020 (p. 39). The ability to analyze and process the enormous amount of data is a costly undertaking for companies that are behind the curve and a lucrative business for those that are ahead of the game. Each tweet and post contribution from the users that share the web space further buries the proverbial haystack. It is the ability to sift through the data that determines whether a company can gain traction in their respective industry or if they are simply spinning their wheels. This research paper, centered on Capital Cube and their parent company analytixinsight, will aim to discuss how data analytics is paramount to present and future business operation...
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... market demand for higher-end manufactures, and rise of new global markets. MANUFACTURING 19 Certain manufacturing segments are also adopting a services approach, which is a distinct breakaway from conventional manufacturing delivery. For example, Xerox is leasing out machines as a service. This approach spells a paradigm shift in the manufacturing sector’s strategic thinking. Over the next decade, manufacturing competitiveness, growth and development will increasingly hinge on the quality of inputs that go into the strategic planning. Towards this end, the importance of analytics can hardly be overstated. Analytics locates itself in the data that is related to the particular business. With the adoption of new network and communication technologies, companies have access to several terabytes of data about their customers, suppliers and operations. The amount of data in the manufacturing world currently tots up to nearly 1 exabyte per year and growing exponentially (compared to nearly 434 petabytes for healthcare and nearly 619 petabytes for banking). However, manufacturing firms in...
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...HR Analytics According to a 2004 Workforce Management (formerly Personnel Journal) article, “In 1978—in this publication—Jac Fitz-enz proposed a radical, anti-establishment idea. Human resources activities and their impact on the bottom line could—and should—be measured. The reaction was apathy, disagreement and disbelief” (Caudron, 2004). For the past three decades Fitz-enz has, along with a growing band of kindred spirits, campaigned tirelessly to improve the state of HR measurement and to help both HR professionals and senior executives understand its importance. These efforts started out at the nuts and bolts level—creating definitions for basic HR metrics such as compensation, staffing, hiring and retention. This work laid the foundation for gathering comparable data across organizations, which in turn, enabled the benchmarking of HR metrics. Over the years, a number of scholars and practitioners expanded the benchmarking of HR metrics to include investments in training and developing employees, as well as in a broad array of other HR policies and practices. Refining and improving the benchmarking of HR metrics remained a primary area of focus throughout much of the 1980s and 1990s. This benchmarking focus, while helpful in informing HR professionals about how their organization’s HR metrics stacked up to comparable or best-in-class organizations, provided little by way of actionable business intelligence on how to gain competitive advantage...
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...globalization, we have been moving toward a world in which national economies are (p. 7) relatively self-contained entities. FALSE Over the past three decades a fundamental shift has been occurring in the world economy. We have been moving away from a world in which national economies were relatively self-contained entities. AACSB: Analytic Blooms: Remember Difficulty: 1 Easy Learning Objective: 01-01 Understand what is meant by the term globalization. Topic: Introduction 2. By offering the same basic product worldwide, firms help to create a global market. TRUE Consumer products such as Citigroup credit cards, Coca-Cola soft drinks, video games, McDonald’s hamburgers, Starbucks coffee, and IKEA furniture are frequently held up as prototypical examples of this trend. The firms that produce these products are more than just benefactors of this trend; they are also facilitators of it. By offering the same basic product worldwide, they help to create a global market. AACSB: Analytic Blooms: Remember Difficulty: 1 Easy Learning Objective: 01-01 Understand what is meant by the term globalization. Topic: What Is Globalization? 3. A company has to be the size of a multinational giant to facilitate, and benefit from, the globalization of markets. FALSE A company does not have to be the size of multinational giants to facilitate, and benefit from, the globalization of markets. AACSB: Analytic Blooms: Remember Difficulty: 1 Easy Learning...
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...CHAPTER 1—WHAT IS ECONOMICS? MULTIPLE CHOICE 1. The basic problem of economics arises when there are unlimited resources available to fulfill society's limited wants. a.|True| b.|False| ANS: B PTS: 1 DIF: Difficulty: Easy NAT: BUSPROG: Analytic STA: DISC: Scarcity, tradeoffs, and opportunity cost TOP: Scarcity and Individual Choice KEY: Bloom's: Knowledge 2. Economics is the study of choice under conditions of a.|demand| b.|supply| c.|scarcity| d.|opportunity| e.|abundance| ANS: C PTS: 1 DIF: Difficulty: Easy NAT: BUSPROG: Analytic STA: DISC: Scarcity, tradeoffs, and opportunity cost TOP: Scarcity and Individual Choice KEY: Bloom's: Comprehension 3. The study of economics would be superfluous if __________ did not exist. a.|demand| b.|capital| c.|corporations| d.|profit| e.|scarcity| ANS: E PTS: 1 DIF: Difficulty: Moderate NAT: BUSPROG: Analytic STA: DISC: Scarcity, tradeoffs, and opportunity cost TOP: Scarcity and Individual Choice KEY: Bloom's: Comprehension 4. Which of the following disciplines is not a social science? a.|psychology| b.|mathematics| c.|economics| d.|political science| e.|sociology| ANS: B PTS: 1 DIF: Difficulty: Moderate NAT: BUSPROG: Analytic STA: DISC: The Study of economics, and definitions in economics TOP: Scarcity and Individual Choice KEY: Bloom's: Comprehension 5. What does economics have in common with sociology? a.|Economics and sociology ask fundamentally the same questions...
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...outcomes. Predictive analysis has come of age as a core enterprise practice necessary to sustain competitive advantage. By applying predictive analytics solutions to data you already have, your organization can uncover unexpected patterns and associations and develop models to guide front-line interactions. This means you can prevent high-value customers from leaving, sell additional services to current customers, develop successful products more efficiently, or identify and minimize fraud and risk. Predictive analytics gives you the knowledge to predict…and the power to act. Enterprise data is a priceless strategic asset because it represents the aggregate experience of an organization, the very history of its interactions with customers. Each customer response (or lack thereof), purchase decision, acquisition, outright defection, act of fraud, credit default, and complaint of a faulty product component provides the enterprise experience from which to learn. With SPSS, you can manage risks; learn from your mistakes, analytically. Your organization needs predictive analytics because the following strategic objectives can be attained to their full potential only by employing it. Compete – Secure the Most Powerful and Unique Competitive Stronghold Grow – Increase Sales and Retain Customers Competitively Enforce – Maintain Business Integrity...
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...Brief Overview of Business Intelligence and How Walmart Uses It Walmart is the biggest retailer in the world and handles more than one million customer transactions every hour and generates more than 2.5 petabytes of data storage (Venkatraman & Brooks, 2012). To put this into perspective, this data is equivalent to 167 times the number of books in America’s Library of Congress (Venkatraman & Brooks, 2012). So how can Wal-Mart use this massive amount of data and what useful information can this data provide? This paper will provide a brief overview of the importance of Business Intelligence (BI) and how the largest retailer in world, Walmart, is using it. BI platforms help management to truly understand its customer base and deliver individualized products and services (Brannon, 2010). When BI tools and analytics are used effectively, managers and decision makers can yield an all-encompassing view of the company, its position in the market, and its potential and perspectives (Albescu, and Pugna 2014). BI is best explained as a systematic process not found in a magazine, online or in a knowledge database. An organization that doesn’t have a viable BI capacity is making decisions without key information in this competitive market (Thomas, 2001). Walmart has more customer connections than any retailer in the world, from online activity to in-store purchases, and even social mentions (300,000 social mentions per week) (SAS Institute Inc.). Due to the abundance...
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...ive Analytics World for Manufacturing – June 17 & 18, 2014 Venue: McCormick Place Speaker proposal deadline: November 1, 2013 Speakers will be notified by: December 31, 2013 If you would like to receive PAW call-for-speakers announcements and notifications as they arise for future PAW events, please provide your email address here: Sign up for call-for-speaker notifications Email Address: All speakers: Please read this call for speakers in its entirety before proceeding to the speaker proposal form (below). Software vendors: If you are a software vendor, read this restriction on speaking. Join Predictive Analytics World (PAW) for Manufacturing to share how predictive analytics delivers a business impact for your organization. PAW Manufacturing is the only conference of its kind, with sessions and content reaching: Across business applications - For what purpose is predictive analytics deployed? Across vendors of solutions and software - How is predictive analytics deployed? Dedicated to the Manufacturing Industry Please read more about the scope, objective and target audience of this conference on the about, FAQ and attendee demograpics pages. Present Your Case Studies PAW Manufacturing provides speakers the opportunity to present predictive analytics case studies, deployment successes and lessons learned. At this event, potential consumers of predictive analytics witness proof demonstrating it's more than just a bunch of great ideas - predictive...
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...5 Insights for executives Predictive analytics The C-suite’s shortcut to the business of tomorrow Of special interest to Chief executive officer Chief financial officer Chief marketing or sales officer Chief information officer In the era of big data, companies across a range of industries are recognizing the need for better intelligence and insight about their business. They want to work out how to make the best decisions, drawing on the right information, at the right time. • Finding and accelerating growth opportunities — drawing on internal and external data to help model and predict business outcomes, identify the most profitable opportunities and differentiate the business from its rivals. One organization that has been pioneering in its use of predictive analytics has been the United States Postal Service. Using an analytical approach, it predicted which workers’ compensation claims and payments were unwarranted — and saved some US$9.5 million during 2012 alone. This is not an isolated example: many leading organizations have started to regard their information as a corporate asset. • Improving business performance — enabling agile planning, more accurate forecasting, better budgeting and trusted decision-making support. Business benefit can be gained by creating systems that can convert information into actionable insights, all within the context of key business priorities. Some of these include: 2 | 5 Insights for executives ...
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