Analytics Means Using Data And Performing Statistical Analysis On It, Applying Quantitative And Predictive Models

Analytics Means Using Data And Performing Statistical Analysis On It, Applying Quantitative And Predictive Models

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Analytics means using data and performing statistical analysis on it, applying quantitative and predictive models, in order to arrive at a certain decision. Analytics can be the first step in a process or can rather be an intermediate step as well. Analysis can be done using different set of tools that are available in the market or it can done manually using different concept and formulas. Business intelligence firms like Cognos, SAS and BusinessObjects have developed different tools that are readily available in market that assist in analysis and decision making. Analytics is used in order to find solutions to the problems and the solutions provided enables us to be successful and in the business world allow us to compete with our contenders. An analytical competitor is an organization that uses analytics extensively and systematically to outthink and out execute the competition. Planning good beneficial strategies with the use of analytics make companies prosper more than compared to those who don’t. Need for competing on analytics arises when there are many companies that offer similar products, similar services, similar prices and maintenance. Only efficiency and effectiveness required to make the business decisions matters. Analysis can support almost all forms and any type of business. It does not have any particular criteria. But in order to use competing on analytics we should know the company’s strong and week points. Then only we should apply competing on analytics which in turn will help in turning the business stronger and it will enable the company to be stronger than any others. There has been considerable evidences that the decisions based on analytics are more likely to be correct than intuition. Analytics should ...

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Tata Motors limited was established in the year 1945. They have developed some remarkable products for its customers. The company manufactured its first commercial vehicle in collaboration with Daimler-Benz AG. It has launched many remarkable cars like Sierra, Indica and Nano. The objective of Tata motors was to be passionate in anticipating and providing the best vehicles and experiences that excite the customers globally. They launched India’s first fully indigenous passenger car Indica. In 2005 they launched ACE, a commercial vehicle in the SCV segment which was a huge success. When the company sensed that the sales of ACE were coming to a standstill, they employed a sales transformation exercise to boost their sales with the help of Accenture. They have a good CRM and SCM software which makes it easy for them to maintain and predict good customer relations.

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