The Impact Of Contemporary Trends On Data Science

The industry explored here is telemarketing, specifically outbound telemarketing whose goal is to get an on the phone customer to purchase a specific

Decision making and communication are at the center of business success and efficient business analytics would only be effective through the use of proper information systems and that are up to date with current trends as well as optimizing on the available channels.

The latest technological development in data analytics and implementation helps organizations gain insights and how to deal with informed decisions.

Data collected by a business includes internal data, such as financial or operational information, as well as external data, such as customer or website usage information. Properly analyzing and acting on this vast amount of data can transform the way companies do business and can become their biggest competitive advantage. Leaders of the organization no longer have to rely on their “gut instincts” to make key decisions, instead they will make decisions off historic data and will be able to more easily measure and track the effectiveness of those decisions.

In the organizational layer, DLL has a global business intelligence and global analytics team. The business intelligence team’s focus is data warehousing, dashboard designing and providing real-time data companywide for all the countries, which can be queried via SQL or Hyperion. Given that data often needs clean up and analysis to better understand its trends, the business intelligence team has created a Virtual Reporting Tool which is accessible by all members of the company and is meant to be the only source of the truth. This tool provides live reports and dashboards which are used for monitoring purposes and for analysis. On the other hand, the global analytics team’s focus is

The emergence of big data has provided different avenues for organizations to use data to improve different aspects of their respective operations. Be it customer service, research and development, or market position, Big Data has the potential to be a significant driving force in all these areas. However, there’s still a significant gap between the ability of Big Data to produce insightful analytical information based on real-time data and the ability of organizations to capture and utilize this readily available tool. This is, in part, due to the fact that the systems and processes necessary to fully maximize the usefulness of Big Data is currently lacking in most organizations. This lack of a conducive habitat for Big Data is further magnified in new organizations without any knowledge of Big Data. For organizations that have that have little to no knowledge of Big Data, there must be a thorough assessment of the benefits of big data and how they could improve the organizations overall place in the market. There also needs to be steps taken towards the design of frameworks that will enable the organization to better capture and utilize Big Data.

Companies are facing a highly uncertain environment due to financial-crisis, global economy, and dealing with high-competitiveness. The value encompassing the culture of leveraging people, process, data and technology. The shared core-values and priorities of an organization has becoming essential for intelligent enterprise (Stubbs, 2014) . As Evan Stubbs described in his book (Stubbs, 2014), we need skilled employees who are involved in applying business analytics, comfortable leaders with uncertain environments and planning for unknown unknowns. Process must be linked to achieve an outcome and strongly defined, further to create specific steps that can be automated. Not less important – data and measure process for future analysis and decision-making process; convert simple data to valuable information for executives. And the technology enables to produce assets.

There are large amounts of information available in the world through various media outlets, such as the internet, mobile conversations, emails, chats, messages, etc. Nowadays, everything is a big data and with the emergence of the whole new breed of big data software which is distributed all over in the world, whatever data is available can be used for analyzing.

This paper will look at some of the ‘Big Data’ being implemented today. Regardless of ow anyone feel, ‘Big Data’ s a thing that is not going away. This paper will look at Video and Image Data, Audio Data, Textual Data, Managerial Accounting.

Individuals and organizations within current information society have at their disposal vast amount of data which potential has not fully been used. With the increasing availability of data there is a need to organize data and to extract knowledge from such data. Data are being accumulated in different formats and databases, which are usually not connected together, therefore leading to the inefficient use of valuable information.

In the increasingly competitive global business environment, each organization needs to take advantage of every tool, opportunity, and advantage it can to achieve the best products and services, to gain and maintain market share, and keep stakeholders happy from investors and workers to supply chain and customers. The advance of data analysis has opened up new vistas to support decision making. Decision support systems (Sauter, 2010) have emerged that process various forms of data to build outcome models. These have been adopted in every segment of society, in the private and public sector, from political campaigns and the military to corporations and nonprofits alike. As a whole, the new set of tools involving the strategic use of data is called business intelligence. Within that general framework, the term analytics refers to the statistical, quantitative use of data to produce explanatory and predictive models for fact-based decision making. (Sauter, 2010).

In this paper, the author will attempt to define data analytics in general and provide a brief overview of the evolution of utilizing data analytics in business. Next, analyze the main advantages and disadvantages of using data analytics within the industry or company that you have chosen. Determine the fundamental obstacles or challenges that business management in general must overcome in order to implement data analytics. Next, suggest a strategy that business management could use to overcome the obstacles or challenges in question. Provide a rationale. Analyze the overall manner in which data analytics transformed the industry or company you selected with regard to customer responsiveness and satisfaction. Speculate on the trend of using data analytics for the chosen industry or company in the next ten (10) years. Next, determine at least one (1) additional type of data that one could collect by using data analytics. Provide a rationale for the outcome.

·         Extracting data from source systems, transforming it, and then loading it into a data warehouse

Business intelligence systems is complex combination of technology and analytical techniques facilitate business decision making (Chae & Olson, 2013). Additionally, BI provides relevant information on an enterprise and with regards to the market that it is in, incorporating customers, technologies, products, markets, suppliers and competition (Sangari & Razmi, 2015). A corporation generates a lot of operational and transactional data about products, services, sales, customers etc. stored across the various databases in the company we have to select the data that can be used to create intelligence after processing using extraction, transformation and loading (ETL) (Chae & Olson, 2013). Moreover, the data must generate business value, this can be done using data mining, analytical techniques to convert raw data into informational insights to predict future events (Chae & Olson, 2013). Lastly, BI enable to monitor and report company’s performance by the use of KPI’s across various domains by mapping with frameworks like Six Sigma to create dashboards and scoreboards with suggest corrective actions (Chae & Olson, 2013).

Legacy Business Intelligence tools, which more than 70% of companies today use, are becoming obsolete as they do not align with the needs of businesses today. These cumbersome and highly centralized systems cannot support increasingly dispersed teams that need access to information to take key strategic decisions that help run the business. As a result, an increasing number of corporate decision makers are turning to a next generation, easy to use real time cloud based analytical tools to achieve their business objectives.