Business Decision Analytics

Business Decision Analytics
MGT602 Business Decision Analytics
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Business Decision Analytics
Contents
Introduction...........................................................................................................................................3
Aims......................................................................................................................................................3
Scope.....................................................................................................................................................3
Research questions................................................................................................................................3
Team introduction with a summary of team diversity...........................................................................4
Literature review...................................................................................................................................4
Data analytics........................................................................................................................................6
Sources of data......................................................................................................................................7
Rationale for use....................................................................................................................................8
Analysis and interpretation....................................................................................................................8
Recommendations.................................................................................................................................9
Conclusion.............................................................................................................................................9
References...........................................................................................................................................11
Appendix.............................................................................................................................................13
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Business Decision Analytics
Introduction
Numbers of challenges are faced by the organisation for meeting the desired objectives in the
organisation. This makes the organisation take an adequate decision for the meeting the
challenges with the use of several decision-making tools in the organisation. The research is
based on Tesla, an automotive company found in California and specialized in manufacturing
of the electric car. The number of tools will be explained in the following literature that is
required in the organisation to be adopted for meeting the challenges. The requirement of
employees and making them work in a team will also be taken into consideration.
Aims
The aim of the study is to identify the challenges that take place in the organisation and the
decision-making tools that need to be adopted for solving the challenges. The study will help
out to find several decision-making tools that can be used in the organisation to find solutions
to the problems. This makes the management to take decisions that are beneficial for the
company and its productivity. This also makes the management to work in a team for finding
the necessary solution and increasing the productivity and performance of the employees in
the team.
Scope
The scope of the study is very wide as this helps in finding out solutions for the problems that
persist in the organisation. This also makes the use of different tools for the decision-
makingprocess that is required to be evaluated and considered in the organisation. This will
help the organisation to identify the number of problems that can take place in the company
in the future. This will make the organisation take decisions instantly for the problems that
arise to them. The decision needs to be taken in an effective and easy manner so that it could
be beneficial for the organisation in terms of productivity and revenue. The scope is wide in
respect of finding multiple solutions to the problem that takes place in the organisation.
Research questions
Primary question
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Business Decision Analytics
What are the different tools that are adopted by Tesla for making decisions??
Secondary Questions
 What is the basic problem that takes place in the organisation??
 What are the effect of decision making on the team building and their performance?
Team introduction with a summary of team diversity
In an organisation, several employees work for the welfare of the company and for the
achievement of objective and goals that are set by them. Employees are required to work in a
team so that they can work on the goals and objectives that are provided to them. Employees
work in an organisation come from different culture and background, so it becomes difficult
for the organisation to make them cooperate and make them work in a team. The employees
are made to respect the culture of each other so that they can work for the accomplishment of
the objective. This also helps in improving the communication among the team members that
will improve the coordination level in them (Mäkikangas, Aunola, Seppälä & Hakanen,
2016).
The diversity in the team takes place due to the unique qualities that exist in the individuals in
the team. The qualities of the individuals make him different from one another that create
difficulties in the coordination and cooperation in the team. This makes the employees
understand each other so that they can make the usage of different ideas for the formulation
of strategy. This also helps in making the team to develop the standards according to which
the objectives can be achieved that are set by Tesla. This also helps in increasing productivity
so that it can earn high revenue. This also helps in making effective decisions in the
organisation that are as per the situations. Numerous solutions can be given by the team
members for the problem that takes place in the organisation for the decision-making process
in the organisation (Karanges, Johnston, Beatson & Lings, 2015).
Literature review
As per the views of Salas, et al. (2017), the development of technology has made a drastic
change in the products and services that are produced by the organisation. The growth of the
organisation relies upon the usage of technologies and strategies that are used by it for
meeting the competition and satisfying the customers. In large organisations, the requirement
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