Business Intelligence And Marketing Analytics Essay

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.

Business intelligence analysts are important to the business field. They are responsible for producing financial and marketing intelligence by querying data repositories and generating periodic reports. They are also to devise methods for identifying data patterns and trends in available information sources. Its certain you must acquire or already attain to be a business analyst such as critical thinking, active listening, reading comprehension, active learning, and also speaking well. They must complete certain tasks, like for example, Analyzing competitive marketing strategies, synthesizing current business intelligence, managing timely flow of the business, and also collect data from available industries reports. As of the 2014 research business analyst median wages are $40.10 an hour and their salaries are $83,410. What really drew me to this field was the chance to work with a company to ensure growth and improvement.

Google is a large technology firm based in America. It focuses on services and products related to internet search, online advertising, and cloud computing. The company?s founders, Larry Page and Sergey Brin, started the company on 4th September 1998 (Google, 2016). Google first listed on the public stock exchange on August 19, 2004, with an initial public offer of 19,605,052 shares of Class A common stock, at a price of $85 per share (Google, 2016). The world highly anticipated Google?s initial public offering and the initial market capitalization was $23 billion. The price earnings ratio then was $ 80 (Ritter, 2014). As of May 2016, Google?s market capitalization stood at $ 82.5 billion. This paper analyzes Google?s performance in the American stock exchange.

Two related articles (Baller & Alan 2009, Galit & Otto 2010) demonstrate that “Business Analytics (BA) refers to the skills, technologies, practices

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

In late eighties, industry expert Howard Dresner suggested “Business Intelligence” as a holistic concept. According to him, business intelligence was a method that assisted in fact-based decision making. Since then, business intelligence has come a long way, evolving into a full-blown field of study.

Whereas, Analytics is a subset of BI, a step ahead in the evolution of Business intelligence. It about getting answers to further questions like “Why did it occur”, “When and what will it occur next (in future)”, “What can be the best option to solution”. Analytics contains tools and techniques to detect patterns, predict future occurrences or events and prescribe the most optimal solution. It is about the cleaning, processing and analyzing data to detect problems and optimal solutions from trends, patterns and relationships eventually leading to better data driven decision making.

In the enterprise world, business intelligence has become a common necessity in every organization whether big or small. According to Shollo and Kautz (2010, p. 1), business intelligence is defined as ‘a process, a product, and as a set of technologies, or a combination of these’. Input from a wide range of corporate stakeholders is essential to implement an effective corporate business intelligence strategy. The purpose of a corporate business intelligence strategy is to aid business with planning in a long run, to aid middle management with tactical reporting, and help operations with daily decision making to efficiently run a business (Pant 2009). A stakeholder is anybody who has an interest in a particular decision which includes people who influence a decision, or could influence it, as well as those affected by it. Contribution of corporate stakeholders in corporate business intelligence strategy will result in the strategy to be successful as well as yield more positive stakeholders.

“Technology creates visibility across the business, and enterprise-wide operational practices are essential to optimal efficiency and effectiveness. The strategic implementation of business intelligence tools and analytics, along with cross-departmental alignment, can transform data into meaningful, useful information for critical analysis. Proactive and investigative BI reporting techniques can help recognize new business opportunities and provide firms with a competitive industry advantage.” - Scott Lundstrom, group vice president and general manager of IDC Financial, Government and Health Insights (Sungard, 2014a).

Regarding the Business Analytics we need to understand that it has different levels, based on the business value it has, and also based on the complexity to apply it. In regards to the complexity required to apply, we are moving from the descriptive type of analyzes through the predictive, into the

Business Intelligence is the gathering and analysis of large amounts of information so as to gain insights that propagate strategic and tactical business decisions. Business Intelligence is the mix of the processes and technologies which change data into information. It includes a wide category of technologies, including data warehousing, multidimensional analysis or online analytical processing, data mining and visualization, as well as basic queries and multiple types of analytical tools for reporting. These technologies allow business stakeholders to collect, store, access, and do the analysis of data to improve the business decision-making capabilities.

It involves business information and analysis that support strategic decision-making, and lead to improved business performance. Decisions based on Business Intelligence and Analytics can impact the bottom line by reducing cost and increasing revenues.

Hans Peter Luhn, an IBM computer scientist published a landmark article, A Business Intelligence System. In that book Mr Luhn defined Business Analytics, “The ability to apprehend the interrelationships of presented facts in such a way as to guide action towards a desired goal”. Essentially, he point to the core of what BI is: “a way to quickly and easily understand huge amounts of information data so that the best possible decisions can be made. Luhn did more than introduce and expand the possibilities of a new

”Enterprises need to be able to quickly respond to an ever-changing world in order to stay competitive. A constantly changing world requires a constant flow of decisions – where even postponing a decision is a decision in itself. Hence, the value of analytics is not to be interpreted as merely a set of features in a tool; it is more of a set of principles for improving the process of your decision-making.”, states Capgemini author Anders Bresell.

Business Analytics is focused on the most recent business intelligence tools, innovation and patterns for business officials who plan, manufacture, and utilize business knowledge items and arrangements. Today business intelligence and analytic technologies are permitting enormous organizations to go big, go fast, go deep, go cheap and go mobile with business information.