Knowledge Management, Business Intelligence And Analytics

Big data analytics can be used by company to make informed business decision by examining large amount of varied data to get customer preferences, market trends and other useful information. Company can use it to explore new revenue opportunities, improved operational efficiency, better customer service and competitive advantages over rivals.

It’s not data, it’s competitive intelligence.  Information is competitive intelligence that drives strategic business decisions.  Decisions that are made by global organization with the power to change the world.

Over the decades there were tremendous amount of challenges for every business. Customers have more knowledge, they have more options, and they have higher expectations. Customers are more informed with the humungous development in technology. Having more options in front of them, expectations has surpassed in retail industry. Loyalty is a customer having faith that your organization’s product or services offered is the best for them. It is the process of tapping the buying pattern of customers in a store based on their preferences. Customer loyalty is significant because it is economical to retain the old customers rather than acquiring new customers. So, organizations employ loyalty programs which reward customers for their repeat business.

One of the reasons why an organisation needs to collect and record HR data is to drive future business decisions within a company. Everything is based on the data and directly affects the company’s strategy and the company’s needs.

The primary test business insights appearances are assembling the vital information about the business. The key for get-together information is computerizing the methodology.

The field of data analytics and business intelligence excites me because it is a field where I can learn applicable “hard,” “technical” skills that are required to execute quality work.

This report is an analysis of business intelligence systems currently available to our business. As an introduction, I will address in general terms why we need to purchase a business intelligence system and how it will aid our business. Then I will discuss several applications in detail, paying particular attention to the information and analysis capabilities of each, and the hardware and software required for each. Finally, I will conclude with a short evaluation of the products discussed and offer a recommendation as to the best application for our business. I will pay particular attention to IBM, Microsoft, SAP, and Oracle.

I understood the real essence of this field during my work experience at Cerner Corporation where we had to deal with huge amount of data and information from across the globe. And the speed at which all the IT companies are movie towards Big Data, it inspired me further to take up this course at your esteemed university.

In 2011 the giant retailer Target got in trouble for sending coupons for baby clothes and nursery furniture to a teenage girl. The father drove to the local Target and complained to the manager. Two weeks later, the father called Target to apologize. After a long talk with his teenage daughter, he found out she was indeed pregnant. Not only was Target able to predict the teenager was pregnant … but they also forecasted what month the girl was likely to deliver her baby.

Another reason for HR data collection is: providing the organization with information for decisions making.

SYSCO was a highly decentralized business composed of over 100 operating companies. Senior executives believed in treating these companies as largely independent businesses whose leaders should be entrepreneurial and growth oriented. Consequently, operating company managers had substantial autonomy; they could market to customers and invest in their businesses as they saw fit.2

Companies are adopting business intelligence system within their organizations because by using the system reports they can gain the advantages of understanding their internal strength and weaknesses to face external competitors and challenges to increase profits and reduce cost on their everyday operations and processes.

Business analytics, in a nutshell, is usage of the type of data that can help one analyze a particular business situation and decide how to improve it. Instruments used for such an assessment include statistics, and both quantitative and qualitative analysis, as well as predictive and explanatory modeling.

Human resource management’s (HRM) role is changing in business. In the past, HR was a nothing but an administrative support function, now it is a key player in a business’s strategic planning. Today HR must have the ability to manage employees in way that contributes directly to a organization’s strategic goals. This sudden paradigm shift in purpose now feeds HR manager’s need for integrated systems that also include business intelligence. As companies look for more responsive and effective systems, outdated HR systems fall to the wayside as new modern and agile systems evolve.

With information streaming in from a seemingly endless array of applications and devices, organizations face the daunting task of extracting insights from new data sources and types, including structured and unstructured sources. There’s also the challenge of the speed in which data is coming in and how quickly you need to be able to capitalize on it. In this environment, competitive advantage hinges not only on your capacity to access data quickly, but your ability to analyze and act upon this information in a timely manner.