Advantages And Disadvantages Of Consulting

Taking careers such as web design and analytics, there are numerous studies that have been conducted about how fortune 500 companies invest in web analytics (Chaffey, D., & Patron, M. (2012)). Despite these skyrocketed investments on web analytics, they still find it difficult to make meaningful

Considering this evolution, "in the past, analytics was reserved for back-room deliberations by data geeks generating monthly reports on how things are going. Today, analytics make a difference in how the company does business, day by day, and even minute by minute". (Hackathorn, R., 2013).

The team of business analysts come from various backgrounds. Business analytics will be used to gather data. This data will include, demographics,

As a senior at Babson College concentrating in Business Analytics and heavily interested in data-driven decision-making, I am thrilled to apply to West Monroe’s Advanced Analytics Consultant positon. Last year, I had the opportunity to research, collect primary and secondary data, and make business decisions when I participated in Babson’s Management Consulting Field Experience. My team, comprised of five highly motivated Babson undergraduates and a graduate student project leader, was able to create a blueprint for a crowdsourcing platform that would help our client, Clarkston Consulting, with its innovation methodology. In the span of three months, our team identified a target market, determined product features, and designed the platform. Through this project, I strengthened my communication skills as I worked with my team, project leader, and also a high-profile client. Further, my passion research and data analytics was reinforced as I utilized the tools taught in my classes in the real-world project. Along with this experience as a consultant, I am

The data analytic process is one in which a large amount of information is collected using software specifically geared towards collecting, identifying and storing information for use by the company. The information is gleaned from different forums, with social media being the most rich and useful. The information is then quickly sorted and organized for use by the collecting agency (Turban, Volonino, Wood, & Sipior, 2002, p. 6). The use of data analytics really took flight in 2010 when different companies offered software that enabled a company to implement their own data analytics. This led to better marketing campaigns, improved customer relations and it gave companies using the software a bigger advantage over their competitors (Savitz, 2012).

The ability to compete on analytics is made possible by certain qualities some companies possess which allows them to collect and use immense amounts of data in a way that differentiates the success and practices of those companies amongst any other businesses. Davenport and Harris (2007) define analytics as “extensive use of data, statistical and quantitative analysis, explanatory and predictive models, and fact-based management to drive decisions and actions” (p. 7). Therefore, to be able to compete on analytics, a firm must not only use the data to extrapolate and execute strategies and models in order to drive business, but also to use that data better and smarter than their competitors. This requires forward thinking and continual developments of current analyses and practices. With regard to Davenport and Harris’s criteria and concepts on the ability to compete on analytics, Old Navy LLC’s practices will be analyzed to find whether the company is able to compete, is a competitor, and how it competes, if at all.

In today’s companies, the analytics software plays the important role and guides the future activities to a great extent.

Each type of analytics as seen on the diagram above, could share a common sub group which could in turn have additional classifications. understanding and reviewing the different types of analytics systems and choosing those that best suite an organization is very helpful in determining the analytic plan for the future of the business. Succeeding in this, will definitely give a boost to the overall value of a business platform.

In spite of very huge data, reports, files, large investments made in web analytics, firms find it difficult to make business decisions. Many business leaders underlined the need to invest in people, but none have spelled it how much could be invested on the tools and people. Kaushik (Blog at kaushik.net) found and developed a rule for investment on tools and analyst to solve the problems in arriving at business decisions to become successful in business. He named it as 10/90 rule for web analytics success.

Having data is not valuable but using data is. Analytic insights are changing the way corporates strategize and also redefining customer expectations. Analytics is the new differentiator between success and failure in the cut throat e-commerce and internet services based industry. The huge proportions of data generated from the increasing number of smart phones, the social networks and the ever more penetrating internet are automating customer centric marketing and other services. The idea is to predict what a customer may want to buy even before the customer realizes what they need. The techniques to achieve these results are broadly classified as Predictive Analytics.

As mentioned before the C-JAM uses Subject Matter Experts to identify the tasks that are performed on the job, as well as creating KSAOs for those jobs. This is a positive aspect of the C-JAM because it obtains information about the job from someone who knows exactly what happens on day-to-say basis and the KSAOs that are crucial and those that are preferred but not overly important.

In Competing on Analytics by Thomas Davenport and Jeanne Harris, the pillars of analytic completion are stated as: “(1) analytics supported a strategic, distinctive capability; (2) the approach to and management of analytics was enterprise-wide; (3) senior management was committed to the use of analytics; and (4) the company made a significant strategic bet on analytics-based competition” (Davenport & Harris, 2007, pp. 511-512) . This section will describe Aramark’s position within these pillars.

For years, web analytics has proven to be a means that revolutionize the way businesses

Part 2. How Business Analytics can be used to gain advantage in a competitive marketplace

Software development process is key to obtaining a competitive advantage over competitors. PricewaterhouseCoopers (PwC) is working on ways to leverage data analytics technology with its audit practice. Business analytics is a new way for companies to separate themselves from their competitors. I recently completed an internship at PwC and will work there full-time upon completion of this program. PwC uses analytics to help solve complex business issues and to identify opportunities across different industries. PwC is the largest professional service company in the world and is part of the Big Four accounting firms. PwC operates in over 157 countries with more than 750 offices throughout the world. (2) PwC is structured into three service lines, which are Assurance, Advisory and Tax. The assurance practice audits almost 30% of the global fortune 500 companies. (2) The advisory practice consists mainly of consulting activities that cover strategy, cyber security and privacy, human resources, deals and forensics. (2) These three practices generated $35.4 billion in revenue in 2015. (2)