Argumentative Summary
opinion Essay
1607 words
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."(Davenport, 2006) Data is compiled to enhance business practices. When samples are taken, they are used to examine research and understand how to solve problems or why situations are as they are. Furthermore, in this article, Thomas Davenport discusses analytics from a business …show more content…
One of the first steps to becoming a competitor is the widespread use of modeling and optimization. Instead of following basic statistical information, it is wise to look for ways to enhance profitability. To become successful at this, organizations use both internal and external information retrieved from outside sources for a vivid understanding of their consumers. Secondly, an enterprise approach is necessary. Through this approach, employees become proactive at finding out what items or processes are effective. A good example would be of how the article talks about UPS’s approach for assessing problems,” The UPS Customer Intelligence Group, for example, is able to accurately predict customer defections by examining usage patterns and complaints. When the data point to a potential defector, a salesperson contacts that customer to review and resolve the problem, dramatically reducing the loss of accounts. UPS still lacks the breadth of initiatives of a full-bore analytics competitor, but it is heading in that direction.” (Davenport, 2006) Furthermore, help from senior executive advocates would be essential. With the cooperation of the CEO or top managing official setting the culture of the company, it would be in their best interest to influence others, according to their beliefs. For example, if the CEO or senior managing official is persuaded to proceed with a particular theory or idea, they would then be willing to share it with his fellow managers who would then incorporate it into the organizational
In this essay, the author
- Explains that analytics is a major technological tool used in business research. data is used to enhance business practices, analyze research, and understand how to solve problems.
- Explains how companies can become analytic competitors through various activities, such as modeling and optimization, and an enterprise approach.
- Opines that the transformation requires a significant investment in technology, the accumulation of massive stores of data, and the formulation of companywide strategies for managing the data.
- Explains that analytics is a major technological tool used in business research. data is used to enhance business practices, analyze research, and understand how to solve problems.
- Explains how companies can become analytic competitors through various activities, such as modeling and optimization, and an enterprise approach.
- Opines that the transformation requires a significant investment in technology, the accumulation of massive stores of data, and the formulation of companywide strategies for managing the data.
- Opines that the curriculum at state university is designed to prepare students with the skills and knowledge needed in the contemporary job market.
- Opines that for all advantages, there are disadvantages, such as knowingly falsifying data, tampering with information, and professional competence and integrity.
- Explains davenport, t. decision making: competing on analytics. harvard business review. retrieved august 8, 2011.
- Opines that an organization needs to have the right focus and a culture of authenticity.
- Explains how analytics has been instrumental to companies such as capital one, which has exceeded 20% growth in earnings per share every year since it became a public company.
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- Cites evelson, b., & fields, e. (2012). tableau for the enterprise: an overview for it.
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- Explains that thinking critically and making decisions are important parts of today's business environment. the paper examines how the decision making process can be followed using various tools and techniques to make successful business decisions.
- Explains that the criteria matrix was the technique used to identify the problems, prioritizing, organization, and sorting out issues into categories deemed critical or non-critical.
- Explains that a decision making worksheet helped ensure critical thinking throughout the entire process, from framing the problem to making the decision to evaluating it. visual graphs examined different metrics of how our choices affected sales, workers, the cost and the company.
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- Explains that the decision-making worksheet was used within the simulation to determine the outcome of a solution. both the quality and acceptance of each alternative need to be related to the performance goals of the organization.
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- Explains that by using differentiating tools, techniques and the decision making process, it is possible to make successful business decisions in a business scenario.
- Cites lowy, a., hood, p. and sixsigmapc.com. the decison-making hierarcy- skillbrief.
783 wordsRead More - Business Intelligenceopinion essayPrior to the start of the Information Age in the late 20th century, businesses had to collect data from non-automated sources. Businesses then lacked the computing resources necessary to properly analyze the data, and as a result, companies often made business d...
In this essay, the author
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- Explains that business intelligence, or bi, is a variety of software applications used to analyze an organization’s raw data. data mining is the process of sorting through large amounts of data and picking out relevant information.
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- Explains that business intelligence and data mining are key job markets and the basis of this research paper. these two fields play a very important role in small to large companies.
- Explains that business intelligence, or bi, is a variety of software applications used to analyze an organization’s raw data. data mining is the process of sorting through large amounts of data and picking out relevant information.
- Explains that people are beginning to realize the effective use of bi/data mining and how it can transform their business and gain the competitive advantage.
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- Opines that business intelligence and data mining strategies and skills can increase profits and market share. employees who specialize in bi and dm fields will continue to be top-notch assets to companies.
- Explains that business was a collection of activities carried on for whatever purpose. howard dresner popularized bi as an umbrella term to describe concepts and methods to improve business decision-making by using fact-based support systems.
- Explains that the bi architect position requires a broad range of skills and the ability to step into different roles depending on the size and scope of an engagement.
- Compares bi/dm salaries with it industry salaries, which rose 3.7% last year. the average salary rose 4% in 2007 to $98,418, up from $94,615 in 2006.
- Describes the operating systems of microsoft® windows® vista® (business and enterprise) and xp professional with service pack 2.
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