How to explain why Quantitative data is good at narrowing a business problem so you are able to develop a solution?
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How to explain why Quantitative data is good at narrowing a business problem so you are able to develop a solution?
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- In at least 300 of your own words, explain the differences between qualitative and quantitative data. Why is this important for you to know in your prospective career field?How can you get more information from the same amount of data by using a database approach instead of a nondatabase approach?Companies are using more data to run their operations. How does the company utilize it?
- What exactly is business analytics, and what is its goal in terms of producing value from data?How do organization/business determine which data source best matches their needs?What is the best way to collect data and create a database? Differentiate among structured, semi-structured, and unstructured data, giving business examples of each.
- What are some examples of unstructured data that Spotify is probably using in their analysis?What are the different types of analytics? How can they be applied to improve business performance? Provide examples.As you have seen in your reading and lectures for this course, business analytics focuses on the analysis of business data through the use of statistics, optimization, modeling, and other quantitative techniques to help guide business decisions. In your DBA research classes, you have (or you will) become acquainted with a range of quantitative and qualitative research techniques that can be used to investigate business questions. Quantitative and qualitative methods each have unique strengths and weaknesses and that some questions are better answered through quantitative methods while others can only be addressed through a qualitative investigation. In many ways, business analytics represents an ultimate quantitative expression of management science. Moreover, as with research, one might expect that there are some business situations that business analytics can address especially well while other business situations are best addressed (or can only be addressed) through more qualitative…
- How can data dictionaries help in the creation of business intelligence dashboards and reports?What are the three categories of business analytics? What is the quantitative analysis process? Give several examples of this process.What are the primary challenges organizations face when trying to extract insights from large-scale unstructured data, and how can they address these challenges?