Using Analytics And The Decision Making Process Essay

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

Data collection has been around for years in one form or another. The implementation of the No Child Left Behind Act stimulated dedicated educators to learn the correlation between data driven decision-making and successful school improvement plans. The legislative goal was to ensure academic success across all socioeconomic frontiers. Districts across the country were steered into driving their instruction with data and teacher collaboration. This has lead to districts that have successfully found the correlation between data driven decision-making and success.

Strategic / Executive Dashboards Strategic dashboards will typically provide the KPIs (Key Performance Indicators) that a companies executive team track on a periodic (daily, weekly or monthly basis). A strategic dashboard should provide the executive team with a high-level overview of the state of the business together with the opportunities the business faces.

Executive dashboards, sometimes referred to as strategic dashboards, deliver business intelligence to executives through a graphical interface. It is critical for a company to build a dashboard based on key performance indicators (KPIs). The reason for this is because your company will obtain benefits such as receiving solutions to vital business questions, increase productivity and align business actions with the company’s approach.

Anthony, Robert N., and David F. Hawkins. "Strategic Planning and Budgeting." Accounting: Text and Cases. 13th ed. New York: McGraw-Hill/Irwin, 2011. Print.

understand what it means to compete on analytics, and want to do it. Second, having  high‐quality, integrated, clean data is something of a prerequisite. One of the reasons  that companies are interested in this right now is because they finally have access to all  this data from ERP systems, Web reports, point‐of‐sale systems and so on. Today the  tools that SAS and others provide for integrating and cleaning data are better than ever  before.    From there, what are the stages of competing on analytics?   DAVENPORT: I call stage one "analytically impaired," which means some fatal flaw is  keeping the company from doing much with analytics at all. Either the executives just  don't care or they have bad transaction data or they have lots and lots of data silos  around the organization ‐ something major keeping them from doing this at all.    Stage two is what we used to think of as a best practice in business intelligence, which is  a lot of little pockets of analytical activity around the organization ‐ not connected, no  vision of what you could do with it at all. I sometimes call this the Aleutian Island  strategy: There are a lot

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

b) Isolating critical few metrics: A dashboard should not have overwhelming metrics as it gets complicated to segment or highlight the performance. Having too many metrics is difficult for audience to ascertain what the key take away from all such metrics are. As it can be misleading it is recommended to have 5 key metrics. If there are more than 5 its best to make it more concise and shortlist the critical few which are impactful. Within the dashboard it is vital to understand what key metrics mean and set goals for each metric to drive the bottom line of the business. Dashboard must articulate the decision making process.

After careful data analysis, the need for instructional improvement on strategies to address the needs of English language learners it is apparent. Improving literacy skills is critical in decreasing achievements gaps of this subgroup. As mentioned previously, Pinewood maintains a school grade of a B; nevertheless, a focus on strategies to meet the needs of ELL students will benefit all students. With effort from all stakeholders, a focus on instructional strategies to improve learning of English learners could result in decreasing the achievement gap as well as increasing the school grade to an A, since many of these students count for the lowest 25%. Correspondingly, Marchand-Martella, Klingner, and Martella (2010) justify that

The concept of Business analytics is a component of business intelligence, it has evolved in recent years and now in the for front center of business. With the growth of technology and the continuing improvement

For more than five years, I have been involved in financial accounting operations (AP, AR, GL, FA), both as individual contributor and people manager. On top of day-to-day team leader's duties – such as activity assignment, hiring and performance appraisal - my main task was delivery of process improvements along with meeting the cost and quality targets (SLA’s).

As a large, multi-national financial institution, BAC / ML is at the forefront of the analytical revolution. In an interview with PriceWaterhouseCoopers (PWC) , Brian Moynihan discusses how technology can improve operational efficiency. This is a point that Davenport & Harris make in “Competing on Analytics” - that in today’s market, efficient and effective execution are one of the strategies that can pay off in separating a company from its competition. Mr. Moynihan further speaks to how big data analysis is one of the tools that can provide the intelligence needed to achieve some of their strategic goals. As one of the world’s largest banks, BAC/ML certainly has the funds and resources to bring this intelligence to bear - provided that

An increasing amount of businesses are exploring this new concept of analytics. In today’s tech-savvy era, the use of analytics can be seen as a necessity rather than a competitive advantage. More companies are realizing the benefits that come with the use of analytics within the business environment. Like anything else, there are both pros and cons that come with this approach. However, the benefits far outweigh the negatives. Business analytics are the future of the business world. This paper will describe a general overview of business analytics and its application to the real world.

Every interaction your company has with a customer or supplier likely generates a data trail and this data provides a wealth of information for marketers. Extracting that information and getting it into usable shape requires sophisticated data mining tools. One example of this technology is the used by police departments to identify patterns in crime. We will define, explain and discuss main aspects of data mining. Also its benefits and negative issues.

Cokins, G. and D. Hicks (2007). Where Does ABC Fit Amongst the Clutter of Managerial Accounting? Cost Management, March/April, 21-28.