Impediments to Integration of Business Analytics With Business Intelligence and Knowledge Management Data
Business Analytics

Impediments to Integration of Business Analytics

The consumer is out to emphasize that 'he is the king'. Accordingly, his demands for enhanced quality and timely deliveries of the products' order by them has revolutionized the management gurus to evolve new business strategies to enhance the intensity of coordination and communication between the seller and the consumer. Two key business strategies that have evolved from this exercise are business intelligence and knowledge management, which have contributed effectively to the progression of new and competent management strategies. Great benefits have also been achieved in for form of cost reduction, thereby increasing the sales and profitability of the organization.

Information routing is a critical link between the production department up to the client and the optimal course of production steps are directly related to business intelligence and knowledge management. Accurate data systems…...

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Reference

Kathe, H. (2008). Research Paper Article: Business Intelligence and Knowledge Management, Retrieved from 2008-11-21.http://www.mightystudents.com/essay/Business.Intelligence.Knowledge.51740,

H.L. Lee and C. Billington, "Evolution of Supply Chain Management Models and Practice at Hewlett-Packard Company," Interfaces, 25, 5, 1995, 42-63.

Ron, K; Neal, J.R.;Evangelos, S. (2002). Emerging Trends in Business Analytics, Retrieved from ai.stanford.edu/~ronnyk/cacmEmergingTrendsInBI.pdf, Volume 45, Number 8, Aug 2002, and pages 45-48.

Ron, K. & Foster, P. (2001), Applications Of Data Mining To Electronic Commerce: Data Mining And Knowledge Discovery, 5(1/2), 2001, Retrieved from  http://robotics.Stanford.EDU/users/ronnyk/ecommerce-dm .

Task One Business Analytics ConceptsPart ACluster analysis is a method that groups the same observations into several clusters based on the observed values of numerous variables for every individual. Cluster analysis encompasses the organization of items into different groups based on how such groups or clusters are closely linked to one another. Cluster analysis aims to determine the same groups of subjects in that similarity between every pair of subjects implies some universal measure of the entire set of characteristics. Significantly, clustering analysis is characteristically utilized when no supposition is made about the probable associations within the data. The analysis provides insight regarding where relationships and patterns in the data are existent but does not provide information regarding what they may be or what they mean.A fitting example of clustering analysis is classification. This encompasses the separation of the subjects into different groups so that every subject is more…...

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References

Borgen, F. H., & Barnett, D. C. (1987). Applying cluster analysis in counseling psychology research. Journal of counseling psychology, 34(4), 456.

DiStefano, C., & Kamphaus, R. W. (2006). Investigating subtypes of child development: A comparison of cluster analysis and latent class cluster analysis in typology creation. Educational and Psychological Measurement, 66(5), 778-794.

Dollfus, S., Everitt, B., Ribeyre, J. M., Assouly-Besse, F., Sharp, C., & Petit, M. (1996). Identifying subtypes of schizophrenia by cluster analyses. Schizophrenia Bulletin, 22(3), 545-555.

analytics in business in 2016 is intrinsically tied into one of the most common business buzzwords of the new millennium, "big data." Whatever strategies were employed in utilizing the concept of analytics for business before the twenty-first century, it is clear that now analytics hinges almost entirely on the concept of big data. This is something that Duan and Xiong (2015) make clear in their journal article on "Big Data Analytics and Business Analytics" where the writers observe that
Any research progress in business, science, engineering, education, sociology and other areas is either driven or supported by data. Although data alone are cheap and ubiquitous, what makes data a valuable asset is the useful information hidden inside them. Since there are many different types of useful hidden information which require different analytical techniques to find, these analytical techniques become an indispensable complement to data. (1)

These analytic techniques are indispensible to…...

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References.

Baker, P. (2015) BrainFall ranks all 50 states on the '50 Shades of Gray' scale. Fierce Big Data. http://www.fiercebigdata.com/story/brainfall-ranks-all-50-states-50-shades-grey-scale/2015-02-18

Duan, L, Xiong, Y. (2015) Big data analytics and business analytics. Journal of Management Analytics 2: 1-21. DOI: 10.1080/23270012.2015.1020891

facilitating change within an organizational setting, by outlining and recommending solutions that deliver value to stakeholders. It is the set of everyday jobs and practices employed to function as a connection among stakeholders to comprehend the system, strategies, and processes of an organization, and to reach solutions that help the organization to attain its objectives (IIBA, 2015). Business analysis consist of comprehending how organizations operate to achieve their objectives, and describing the competencies required by an organization to deliver products and services to stakeholders. It takes into account the organizational objectives, how those objectives link to specific goals, shaping the strategies, methods, and plans that an organization has to carry out to realize those goals and objectives, and defining how the different business units and interested parties within and outside of that organization interrelate (IIBA, 2015).
Benefits and challenges of Performing BA in an organization

The nature of business has transformed…...

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Works Cited

Erlank, Steve. The Benefits of Business Analysis. IIBA Inside View, 2011. Retrieved from:  https://www.iiba.org/News-Events/Newsletters/Archived-Newletters/2011/IIBA_Newsletter_April_2011.aspx 

IIBA. What is Business Analysis? International Institute of Business Analysis, 2015. Retrieved 12 November, 2015 from:  http://www.iiba.org/babok-guide/babok-guide-v2/babok-guide-online/chapter-one-introduction/1-2-what-is-business-analysis.aspx 

Rose Business Technologies. Predictive, Descriptive, Prescriptive Analytics, 2012. Retrieved 12 November, 2015 from: http://www.rosebt.com/blog/predictive-descriptive-prescriptive-analytics

Van der Aalst, W. M. (2008). Challenges in business process analysis. In Enterprise Information Systems (pp. 27-42). Springer Berlin Heidelberg.

Master of Science in Business Analytics program / Master of Science in Business Analytics program: The Course to Grow in today's World
Significance of Master of Science in Business Analytics program

The modern constantly changing internet Information technology environment produces large amounts of statistics referred to as "Big Data," which result from social connections and commercial transactions. The quantity of data is rapidly rising courtesy of the increase in cloud computing innovations, mobile applications and the uptake of other digital solutions or technologies. Thus, there is always a rising need for professional analysis of data to guarantee efficiency and create value out of the statistics.

In fact, this need is growing rapidly in businesses that make use of such data. The Master in Business Analytics program is one that is designed in such a way to equip the learner with the skills and tools to be able to identify trends or opportunities…...

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References

Elliott, T (As cited in DeAngelis). (2013). Predictions for the Coming Year: Big Data Analytics. Enterra Insights Blog. Retrieved from on 6th November, 2015.http://www.enterrasolutions.com/2013/12/predictions-coming-year-big-data-analytics.html

Masters in data science. (2015). Business Analytics Master's Degrees. Masters in Data Science Blog. Retrieved from   / on 6th November, 2015.http://www.mastersindatascience.org/specialties/business-analytics 

Sap. (2015). Explore analytics solutions from SAP. SAP Global. Retrieved fro.   on 6th November, 2015.http://go.sap.com/solution/analytics.html 

Essay Topic Examples 1. The Role of Business Analytics in Strategic Decision-Making:
This essay could explore how business analytics contributes to strategic decision-making in organizations. It might examine case studies of companies that have successfully leveraged analytics for strategic benefit, discuss the types of data analyses that provide the most value, and consider future trends in strategic analytics.

2. Business Analytics and Customer Behavior Insights:
This topic might delve into how companies use business analytics to gain in-depth knowledge of customer behaviors, needs, and preferences. The paper could evaluate how this information influences marketing strategies, product development, and customer service enhancement.

3. Ethical Considerations in Business Analytics:
An essay on this topic could discuss the ethical challenges that arise in the realm of business analytics, such as data privacy, consent, and the impact of predictive analytics on society. It could also present frameworks or…...

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Primary Sources

Davenport, Thomas H., and Jeanne G. Harris. \"Competing on Analytics: The New Science of Winning.\" Harvard Business Press, 2007.

Fitzgerald, Maureen, and Ron Kohavi. \"Online Controlled Experiments and A/B Testing.\" Encyclopedia of Machine Learning and Data Mining. Springer, Boston, MA, 2017. 922-929.

Berson, Alex, and Stephen J. Smith. \"Building a Data Warehouse for Decision Support.\" Prentice Hall PTR, 1997.

Larose, Daniel T., and Chantal D. Larose. \"Data Mining and Predictive Analytics.\" John Wiley & Sons, 2015.

Provost, Foster, and Tom Fawcett. \"Data Science for Business: What You Need to Know about Data Mining and Data-Analytic Thinking.\" O\'Reilly Media, Inc., 2013.

BUSINESS ANALYTICS Business Analytics: atio AnalysisThe ratios captured in Table 1 below would come in handy in efforts to assess Southwest Airlines current performance level.atiosFormula20212020Profitability atios:i. eturn on Total Assets (OA)............................ii. eturn on Stockholders Equity (OE)Profits after Taxes/Total Assets..............................................Profits after Taxes/Total Stakeholders Equity977,000/ 36,320,000 = 0.03................977,000/ 10,414,000 = 0.09-3,074,000/ 34,588,000 =-0.09.....................-3,074,000/ 8,876,000= -0.35Liquidity atio: Current atioCurrent Assets/Current Liabilities18,036,000/ 9,164,000 = 1.9715,173,000/ 7,506,000 = 2.02Leverage atio: Debt-to-Assets atioTotal Debt/Total Assets12,281,000/ 36,320,000 = 0.3412,199,000/ 34,588,000 = 0.35Activity atio: Total Assets TurnoverSales/Total Assets15,790,000/ 36,320,000 = 0.439,048,000/ 34,588,000 = 0.26Shareholders eturn atio: Dividend Payout atioAnnual Dividend Per Share/After-Tax Earnings Per Share0.18/1.61 = 0.110.18/-5.44 =-0.03Table 1NB: Figures in thousands (except financial ratio computations ratios, EPS and DPS)DiscussionIt would be prudent to note that as per the most recent financial statements of Southwest Airlines, an assessment of the various ratios indicate that the airline performed better in the year under consideration (2021) than it did in…...

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ReferencesHitt, M.A., Ireland, R.D. & Hoskisson, R.E. (2016). Strategic Management: Competitiveness and Globalization. Cengage Learning. Monica, P.R. (2022, Dec 11). The Fed will raise rates again. But it’s playing with fire. CNN Business.  https://edition.cnn.com/2022/12/11/investing/stocks-week-ahead/index.html

Discussion Post: Business AnalyticsChapterConceptsDefinitionContextPersonal Example12. Business Intelligence, Knowledge Management, and Analytics1. Four modes of knowledge conversion:four modes of knowledge conversion within organizations. 1) socialization involves sharing tacit org. knowledge through direct interaction and shared experiences; 2) externalization involves the communication and codification of tacit knowledge; 3) combination refers to the synthesis and organization of explicit knowledge to create new explicit knowledge; and 4) internalize-tion is the by which learning from explicit knowledge sources and internalizing that information into personal tacit knowledge takes place.1) Business intelligence refers to the collection, storage, processing, analysis and visualization of data which can be converted into tables and graphs to support more informed business decision making.2) Knowledge management builds on business intelligence, but focuses specifically on the practices around capturing, distributing, and maximizing the use of knowl-edge as an organizational asset.Mainly internal, centered on informing an organizations activities through expertise cultivation and sharing, though external…...

Business intelligence degrees are not entirely available in Canadian colleges as ‘Business Intelligence’. For example, a private university like University of British Columbia has the Business and Computer Science Bachelor’s degree. It combines a typical business degree with background and experience in computer science. “The Business and Computer Science combined major will give you the technical background and understanding to apply IT solutions in a business context and use them to develop opportunities for growth” (UBC, 2018). Each semester, students take a combination of commerce and computer science-related courses. The official degree name is Bachelor of Commerce and takes on average, 4 years to complete. This kind of BI program is located mainly in the computer science department with year 1 courses consisting of computation, programs, and programing, models of computation, and integral calculus. Although commerce essentials are part of the program as well, like managerial accounting, course offering consisting of…...

Uses of visualization in business analytics include market segmentation analysis and factor analysis to define new audience segments based on psychographics. Visualization is often also used for pricing analysis to determine how elasticity can vary by product and area being sold into.
6. What are the steps involved in effective decision making and how can business intelligence assist in helping executive and managers make better strategic and operational decisions?

Effective decision making inherently must take into account many factors that range from the highly quantifiable to the qualitative if risk is to be minimized and the best possible alternative chosen. BI-based applications, tools and technologies have been designed specifically with these needs in mind of business decision makers. The steps involved in effective decision making include problem rationalization or the defining of the problem parameters, the definition of boundary conditions of the decision, selection of the alternative, execution of the strategy…...

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References

Baker, R. (2009). Pricing on Purpose: How to Implement Value Pricing in Your Firm. Journal of Accountancy, 207(6), 62-67,12

Jordan, J., & Ellen, C. (2009). Business need, data and business intelligence. Journal of Digital Asset Management, 5(1), 10-20.

Liker, J (2003). The Toyota Way. New York, NY: McGraw-Hill .

Soumendra Mohanty. (2008). Measuring the Value of Intelligence in Business Intelligence. DM Review, 18(12), 20.

Opportunities Current Company/Organization Utilize Business Analytic
The primary area in which my current organization can utilize business analytics is in satisfying our increasingly growing customer base. I work for an information technology product development company. Therefore, it is our business to develop the products for business intelligence, analytics, and a host of applications for these tools such as enterprise resource planning, customer relationship management, enterprise mobility and cloud computing for customers worldwide. The principle way in which this organization can utilize business analytics is to ascertain what the most popular product is to what customer base in order to assist in the research and development of more products that can increase customer advantage.

This process is actually a fairly lengthy one, and one which is dependent upon business analytics for success. Gauging customer sentiment is no longer something that organizations can do simply by monitoring what sales are made of various…...

Business Analytics Project
JC Dollar Analytics Strategy

The $10M investment in creating a customer loyalty program has set the foundation for capturing, aggregating, analyzing and making recommendations from customer's preferences and expectations that are not being delivered in experiences today. Continuing to pursue a price reduction strategy in an attempt to increase sales has proven ineffective, which is further validation to JC Dollars store management that their stores operate in an inelastic market. Additional data on price elasticity captured as part of the customer loyalty program will over time will continue to underscore just how inelastic the chain's pricing is based on the commodity-like nature of clothing and accessory retailing. Of the many benefits of analytics, one of the most valuable is being able to gain insights into pricing and purchasing behavior for specific product and service categories, providing decision makers on which value-add strategies are most effective (Gnatovich, 2007).

The business…...

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References:

Davenport, T.H., Harris, J.G., & Emberson, C. (2007). Competing on analytics: The new science of winning. Prometheus, 25(3), 322-324.

Gnatovich, R. (2007). Making a case for business analytics. Strategic Finance, 88(8), 46-51.

Schauer, J. (2004). The new era of BI and business analytics. DM Review, 14(7), 28.

Sharma, N., & Dadhich, M. (2014). Predictive business analytics: The way ahead. Journal of Yeoman, I. (2009). Competing on analytics: The new science of winning. Journal of Revenue and Pricing Management, 8(5), 474-475.

Where pricing integration typically fails however are in the handling of exceptions. Columbus (2003) makes the point that the use of automated approaches to managing special pricing requests can be one of the highest OI activities of any company. The focus for LOM then is in turning the one-off loan request specifically including a differing rate or structure into a competitive advantage by quickly being able to fulfill it. The use of automated special pricing requests applications and techniques as defined by Columbus (2003) are strong competitive tools that could be used as part of FlashQuote and BFOT overall.
FlashQuote Use Case Analysis

Identifier: FlashQuote Use Case Analysis

Name: BFOT System component that includes quoting, pricing, loan interest rates and the ability to electronically upload the loan, once approved, to the LOS.

Purpose: To more accurately and completely capture the quotes given to prospects over the telephone, the Web, and in person, the…...

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References

AMR Research (2003) - Configuration is the Heart of Customer Fulfillment for Complex Product Manufacturers. AMR Research Report. Monday March 31, 2003. Retreived from the Internet on July 21, 2006 at http://lwcresearch.com/filesfordownloads/ConfigurationIstheHeartofCustomerFulfillmentforComplexProductManufacturers.pdf

Askegar and Columbus (2002) - Channel Management Best Practices: It's All About Orders. AMR Research Report. Monday September 9, 2002. Retrieved from the Internet on July 21, 2006:

http://lwcresearch.com/filesfordownloads/SqueezetheRevenueOutofSPRs.pdf

Columbus (2002) - The Sell-Side E-Commerce Market: It's All About Integration. AMR Research Report. Monday April 1, 2002. Retreived from the Internet on July 21, 2006:

For a product configuration system to be effective it must be able to submit orders directly into production while at the same time being able to determine what the Available-To-Promise (ATP) ship dates are (Mendelson, Parlakturk, 2008). Instead of just giving the standard four to six weeks I'd also integrate the product configuration systems to supply chain systems to ensure that accurate Available-To-Promise (ATP) dates (Gunasekaran, Ngai, 2009). I'd use this as a competitive differentiator to ensure that customers could be very well informed as to when their sofa or furniture was going to arrive. All of these systems would also be integrated to an analytics system so it would be possible to know what the status of orders and shipments were on a continual basis.
eferences

Gunasekaran, A., & Ngai, E.. (2009). Modeling and analysis of build-to-order supply chains. European Journal of Operational esearch, 195(2), 319.

Johansson, Johny K., & Nonaka,…...

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References

Gunasekaran, A., & Ngai, E.. (2009). Modeling and analysis of build-to-order supply chains. European Journal of Operational Research, 195(2), 319.

Johansson, Johny K., & Nonaka, Ikujiro. (1987, May). Market Research the Japanese Way. Harvard Business Review, 65(3), 16.

Kate Maddox. (2006, April). Microsoft research paves way for 'People Ready'. B to B, 91(4), 62.

Lorne McMillan & Brenda Ng. (2007). Ethnography within consumer research -- a critical case study of Consumer Film Festivals. International Journal of Market Research, 49(6), 707-714.

Coyne (ISO, 2007).
Under Mr. Coyne's direction, ISO maintains a regular cycle of community relations events with charitable themes emphasizing the corporate focus of benefiting the community. ISO also provides varied opportunities for employees to incorporate their families into ISO functions as well as recreational activities designed to promote good employee relations. At ISO, periodic progress reviews and regular feedback from supervisors allows employees to maximize their career potential by rewarding performance with regular financial raises and opportunities to advance up the hierarchical ladder (ISO, 2007).

Communication, Diversity, and Business Ethics:

ISO welcomes diversity in its workforce and encourages applications from all sectors and academic institutions. ISO corporate policy and employee handbook specifically stress the importance of maintaining a culturally diverse working environment where employees of all backgrounds and cultural practices are equally welcome. While New Jersey does not require employers to offer health insurance and other benefits to non-married domestic partners,…...

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Kinicki, a., Williams, B. (2005) Management: A Practical Approach. New York: McGraw-Hill.

Insurance Services Offices, Inc. Public Homepage. (2007) Accessed, October 28, 2007, at www.iso.com.

Insurance Services Offices, Inc. (2005) Employee Handbook.

1. Establish clear goals: Before delving into data analysis, businesses should establish clear objectives and goals to guide decision-making. This will help ensure that data is being used effectively to drive growth and not just for the sake of collecting it.

2. Collect relevant data: Businesses should gather and collect relevant data from various sources including customer interactions, sales records, market trends, and competitor analysis. This will provide a comprehensive view of the business operations and market landscape.

3. Analyze data effectively: Businesses should use data analytics tools and techniques to analyze the collected data. This could include using machine learning algorithms,....

Harnessing Data for Informed Decision-Making and Growth

In the era of digital transformation, data has become an indispensable asset for businesses seeking to thrive in an increasingly competitive landscape. Effective data utilization empowers organizations to make informed decisions, optimize operations, and drive growth. To harness the full potential of data, businesses must adopt a strategic approach that encompasses data collection, analysis, and implementation.

1. Data Collection: Establishing a Comprehensive Database

The foundation for informed decision-making lies in the acquisition of relevant data. Businesses should implement a comprehensive data collection strategy that captures both internal and external data from various sources.

Internal Data: Includes....