Introduction to data analytics in business

INTRODUCTION TO DATA ANALYTICS IN BUSINESS 1
Introduction to data analytics in business
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INTRODUCTION TO DATA ANALYTICS IN BUSINESS 2
Introduction to Data Analytics in Business
This write-up aims to analyze critical aspects of data analytics in business. The report is
divided into parts, where the first part analyzes the annual report of Startup Muster while the
second part summarizes critical points of a guest speaker. The first part highlights the events in
the Australian startup ecosystem giving a true reflection of what is happening in this sector.
Startup Muster based on the report surveys the Australian startup ecosystem to collect data that is
analyzed and shared with the public regarding the growth of this important sector. Startups are a
backbone of any economy and they depict entrepreneurial growth in the country. Largely, they
spur economic growth and create employment for the Australian population.
PART A. START-UP MUSTER REPORT
Insights drawn from the report
From the examination of this report, critical insights were drawn from it. First, there is
commercialization where the startups are required to commercialize. Startups are businesses that
are driven by profits and they have always to look for ways of generating revenue profitably.
Carlson, and Usher (2016, p.563) describe startups as agents of innovation that drive the
economy and they should generate revenues that can spur economic growth. For the revenue to
be generated, then it implies that the startups must commercialize. Also, these startups are
required to export their products and services to foreign markets. This alludes to how central
startups are growing international trade and opening opportunities. In essence, the survey was
able to capture the critical role startups play in the Australian economy and by extension the
likely impact they have on trade.

INTRODUCTION TO DATA ANALYTICS IN BUSINESS 3
In this competitive and ever-changing global business environment, startups ought to
support their productivity with innovation and aggressively seek market locally and
internationally (Lee, Kim, Jo, and Lee, 2016, p.780). Startup Musters report skillfully paints
Australian startups as innovative, commercial and productive. As the report paints these startups
are supported by the Coalition Government that is keen on ensuring that they flourish and
contribute significantly to the Australian economy. Every business needs to operate in a
favorable environment and in this case, the Coalition Government is stepping in to protect and
provide a platform for a startup to blossom.
Generally, the report presents central points like commercialization, export, and growth of
startups. These points if narrowed down are benefits that accrue from startups. The presentation
of these benefits was meticulously done. Hence, this gives interest in the presentation method
that was used for report delivery.
Commentary on methods used
This is a report presentation, which from my independent analysis it was exceptionally
done. In this report, there was a powerful message from Hon Karen Andrews. This is MP
Minister for Industry, Science and Technology, who strongly reported on the tremendous
progress startups are making in Australia. Startups fall under this ministry and to show support
for them, it was necessary to have a powerful message from the minister acknowledging the
value startups bring to an economy. According to Szczygielski, Grabowski, Pamukcu, and
Tandogan (2017, p. 219) the support of government for businesses matter a lot, first, it creates a