SWOT Analysis - Business Analytics

SWOT Analysis – Business Analytics
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Table of Contents
Analysis...........................................................................................................................................2
Findings...........................................................................................................................................3
Strengths.......................................................................................................................................3
Weaknesses..................................................................................................................................3
Opportunities................................................................................................................................3
Threats..........................................................................................................................................4
Recommendations............................................................................................................................4
References........................................................................................................................................6

Analysis
The urgency for efficiency and precision in business dealings has prompted businesses to
employ technology in all areas of operation to be on par with the market demands. From
operational to transactional business systems, from management and scanning facilities; from
outbound and inbound customer contact points and so on. Information received in businesses is
so immense that it requires equivalent ways of dealing with it. Data analytics is the only answer
to this problem, and therefore companies must purpose to invest heavily in data analytics if they
are to maintain a high level of market competitiveness and improve efficiency in their
operations.
Data analytics is usually extensively employed in areas of business like enterprise
decision-making, market optimization, price and promotion modeling, credit risk analysis, store-
keeping unit optimization, and many others. At this point market optimization would be a
worthwhile area for the application of data analytics.
Big data analysts normally want the knowledge that emanates from the analysis of the
data under consideration (Wilcox et al., 2019). Business organizations are continually looking
for methods of finding actionable insight and knowledge in the data under their possession.
Furthermore, most enormous data projects normally originate from the desire to answering
specific questions relating to business operations. These questions might include how to increase
sales, effectively manage the organization's human resources, and methods of cutting
organizational costs. With the right platform of big data analytics, an organization will gain the
capacity of increasing efficiency, boosting sales, improving operations, risk management, and
customer service (Amankwah & Adomako, 2019). Data analytics usually relies on a
simultaneous application of computer programming, operational research, and statistics to help