Critical Analysis: Data Analytics and Business Intelligence Concepts

Verified

Added on  2022/08/24

|4
|768
|49
Discussion Board Post
AI Summary
This discussion post delves into the wholeness of data analytics and business intelligence, drawing from assigned readings and personal experience. The author reflects on the application of data analytics in their retailing business, highlighting the use of data mining techniques like decision trees, regression, and cluster analysis to improve results and introduce new products. The post further explores the importance of Business Intelligence (BI) and its application in customer relationship management and other business functions, emphasizing its potential to enhance business performance and decision-making across various sectors like education, health, and finance. The author concludes by affirming the value of BI in facilitating sound business information sharing and its potential for future application in their own business endeavors.
Document Page
RUNNING HEAD: WHOLENESS OF DATA ANALYTICS 0
2020
Wholeness of Data Analytics
Student’s details-
tabler-icon-diamond-filled.svg

Paraphrase This Document

Need a fresh take? Get an instant paraphrase of this document with our AI Paraphraser
Document Page
WHOLENESS OF DATA ANALYTICS 1
To:
By: Student’s Name
Date: 18 March 2020
Subject: Wholeness of Data Analytics and Business Intelligence
Data analytics is the science of recording of data which can be used for the discovering of the
information. Moreover, the data analytics can be used in the business in which the data can be
stored and mined to generate the patterns which will reflect the business functioning (Gandomi
& Haider, 2015). My own experiences are related to the business intelligence where I have
successfully applied it into my business.
From chapter 1 which is Wholeness of Data Analytics, I have learnt that data analytics would be
the best ways for efficient and effective serving of the customers. Moreover, data lies in the heart
of the business intelligence which requires the sequence of steps which will determine the
performance of data through the data mining techniques. In my own experience of working into
the retailing business, I have successfully applied data analytics for the introduction of the new
product and increasing the sales of the existing products. Moreover, data mining techniques can
be used in the data analytics which could lead to the interesting combination of data and
interesting patterns (Peral, Mate, & Marco, 2017). I have successfully applied the decision tree,
regression and cluster analysis for the processing of data and improve the results. The wholeness
of data analytics can be seen from the fact that data crosses through the process in which data is
converted into database and is analyzed and stored in the warehouse which are mined using the
data mining techniques. The data mines are visualized and communicated to the right audiences
at the right time which can create competitive advantages.
Further, chapter 2 is ‘Business Intelligence and its Applications’ in which I have learnt the
importance of Business Intelligence (BI) and the significant ways by which I can apply this into
my business. Moreover, Business Intelligence is the strategy that combines the technology,
process and architecture that will be analyzed by enterprises through the business information
(Larson & Chang, 2016). This is considered as an umbrella which allows the business to
organize data and the communication of relevant information to the users. BI can be applied to
my business decisions in which have used this for better decisions. Basically, I have used
Document Page
WHOLENESS OF DATA ANALYTICS 2
customer relationships management which is the way for the way for the retaining of the
customers and increasing the contact with the customers. Moreover, the application of BI can be
on every business and functions as it certainly improves the business performance and also
undertaking of more efficient business practices (Pirani, Marewar, Bhavnagarwala, & Kamble,
2017). This can be applicable to areas like education, health and wellness, banking, financial
services and insurance.
Lastly, the business intelligence is the useful technique that can lead to the sound sharing of
business information through the use of technological tools. I can apply this into my own
experience in which I can use this knowledge for better decisions into my business and getting
the required information for the successful running of business.
Sincerely,
Name of Student
Document Page
WHOLENESS OF DATA ANALYTICS 3
References
Gandomi, A., & Haider, M. (2015). Beyond the hype: Big data concepts, methods, and analytics.
International journal of information management, 35(2), 137-144.
Larson, D., & Chang, V. (2016). A review and future direction of agile, business intelligence,
analytics and data science. International Journal of Information Management, 36(5),
700-710.
Peral, J., Mate, A., & Marco, M. (2017). Application of data mining techniques to identify
relevant key performance indicators. Computer Standards & Interfaces, 54, 76-85.
Pirani, Z., Marewar, A., Bhavnagarwala, Z., & Kamble, M. (2017). Application of business
intelligence using machine learning approach. Int. J. Comput. Appl, 165(13), 28-31.
chevron_up_icon
1 out of 4
circle_padding
hide_on_mobile
zoom_out_icon
[object Object]