Picking The Perfect Analytical Tool For Our Business

Just like in baseball there are large and small businesses. Businesses have to make decisions, decisions that will help the business in the long run. By using analytics business can measure their performance to know where they stand financially and economically. Numbers are very important in a

To ensure that your money isn’t wasted, you need to spend even more. The way to spend it is by following Avinash Kaushik’s “10/90” rule. This directive suggests that for every $10 you spend on your analytics tool and implementation, you should spend $90 on intelligent digital analysts who can convert your data into actionable insights. Companies are eager to collect data, but that data is worthless until someone translates it into insights that drive business results (Gibson A., 2013).

2009). One of the ways that our company can assist these organizations is by using our web analysis tools. Our company can provide analytical and research services that are focused on giving our customers that is a step ahead of the competition. Our company can analyze and process large amounts of data and extract the useful information providing insights to their business market and their

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

To be successful in any modern business there are a few things that must take place. The company has to get oriented; it needs to identify the primary objectives of the business, as well as define the scope, and finally perform both internal and external analysis of the operations. Each of these things has their place and since our company is one of the best out there, the first three have already been established. What we are here today to do is to perform the analysis portion.

Despite the complex nature of a system or building a system, there are a several other ways to obtain the same information needed for decision making. If this is so cumbersome for management, I will recommend that management looks for means to outsource analytics. Outsourcing is a lot more affordable. You have agencies that have readily deployable solutions. This will be resourceful at the early stage but it will always be necessary to take ownership in the long term.

On this week course, i read the material which is given on the reading assignnment and refer more information from internet about google analytics and web analytics. Though this

Stage 4, Analytical Companies – Analytics have been applied at an enterprise-wide level and are being used to drive decision-making, performance, and innovation, but results may not yet have been realized

It seems the desire for Nexteer to get its arms around its data and analysis challenges currently has

Fact and data based decision making is a crucial element for success in today’s ultra-competitive business world. Many companies employ a multitude of analysts and statisticians to gather, organize and evaluate the mounds of data collected through various information systems. Late into the twentieth century companies finally halted the ancient ritual of storing data in basement file cabinets and began to rely on information technology systems to store enormous amounts of data on computer servers. Large amounts of data was being collected and stored but businesses lacked an effective way to utilize the data. During the same time period, numerous emerging technologies in computer science promised to enable the practical use of large amounts of data. SAS, originally referred to as Statistical Analysis Systems, is a company whose purpose is to create a way for users of its technology to access and utilize large amounts of data for analytical decision-making. SAS has made this possible through the creation of variety products and services that can manage a business’s data and customize its statistical analysis to improve business performance.

The 10/90 rule was developed by the Kaushik to help address the problem of having too much data and not enough insights. The 10/90 rule states that for every 10 dollars a company invests in analytics tools, they should invest another 90 dollars on people to analyze the data. His message is clear- information and insights are the end goal for creating value and a company can only get there by spending its resources on people more than machines. Companies need the insights and information and currently the machines cannot think like people when analyzing data. Kaushik states that his claim is based on 4 basic principles. (Kaushik 2010).

Today, the world’s trend in operating business focuses on data availability to enact the best suitable decision to improve, develop, and increase business revenues. Moreover, the availability of data helps to monitor and control the quality of provided products or services. However, the availability of data without proper analytics operations would have no meaning (1). Data analytics provide an important aid to an organization to figure out their position in the market in comparison with their competitors. Also, data analytics helps to identify what is the organization’s competitive ability in the market, what they should bet on, and what they should strive for. With that being said, many of today’s most successful organizations utilize

Google Analytics is the most widely used, free, web analytics tool packaged with hundreds of different available metrics presented on fully customizable data dashboards. Organizations and

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Moreover, to solve the above problems, there is a need for an analyst to take action on organizational data. Additionally, with the sophistication of the Web and the proliferation of options online, the 10/90 rule is more relevant (Kaushik, 2010).