Economics Assignment: Using Blockchain for Advanced Analytics

This economics report examines the application of blockchain technology and advanced analytics to enhance business processes. It begins with an executive summary, followed by an introduction that highlights the purpose of the study: to investigate how these technologies can improve production, supply chain management, and decision-making. The report includes a literature review of peer-reviewed articles published in the last five years, a detailed methodology section outlining the data collection methods (qualitative and quantitative surveys), and an analysis of the collected data. The results section presents both qualitative findings from interviews with managers and quantitative data regarding respondent demographics and industry. The discussion explores the implications of these findings, emphasizing the potential for big data analytics to drive innovation and improve customer satisfaction. The conclusion provides recommendations based on the study's outcomes. The report also includes a reference list and a bibliography.

Running head: USIING BLOCK CHAAIN FOR ADVVANCE ANALYTICS
Economics Assignment: USIING BLOCK CHAAIN FOR ADVVANCE ANALYTICS
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USIING BLOCK CHAAIN FOR ADVVANCE ANALYTICS
Executive Summary
The development of the IOT is going to identify the development of the business and
will be able to identify the development of better innovations in the design of better
technologies. On the other hand, the introduction of better technologies using the advanced
analytics will be looking to introduce the development of better decision making abilities.

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Table of Contents
Introduction and Purpose...........................................................................................................3
Discussion..................................................................................................................................3
Literature Review (At least five peer reviewed journal articles published in last five years)...3
Methodology..............................................................................................................................6
Data Analysis and Results..........................................................................................................7
Discussion and Implications......................................................................................................9
Conclusion and Recommendation............................................................................................11
Reference list............................................................................................................................12
Bibliography.............................................................................................................................13

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USIING BLOCK CHAAIN FOR ADVVANCE ANALYTICS
Introduction and Purpose
Using the development of block chain and the advanced analytics will automatically
increase the production ability that will automatically increase the development of the
business. The main purpose for the development of this study is going to face the
development in the production function if the company is using innovative method using the
big data analytics that will allow the development of the business in an effective way. On the
other hand, through the development of the block chain that will easily determine the better
and effective supply of the goods to the manufacturer. Through the development of the
business it is possible for the companies to deal with the development of better innovation in
the technologies will bring the better development of the business. On the other hand,
bringing in advanced level of artificial intelligence will increase the capability of the
employees so that they will be able to highlight the long run goals and objectives.
Discussion
This section will be taking into consideration some of the literatures that will be
looking to increase the development of artificial intelligence on the development of the
business.
Literature Review (At least five peer reviewed journal articles published in last five
years)
According to Akter, Wamba, Gunasekaran, Dubey & Childe (2016) in the modern
world of the business, the business houses are facing tough challenges as well as they are
getting opportunities in the form of business analytics. On the other hand, the development of
big data analytics capability or BDAC is allowing most of the companies to develop strong
competitive advantages. The development of the business will be definitely looking to

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increase the development of the business that will be increasing the management revolution.
Through the incorporation of BDAC will be looking to increase the development of future
opportunities so that the companies will be dealing with sustained competitive advantages. In
US, the investment in BDAC was around US$2.1 trillion in 2013 and is expected to increase
to US$3.8trillion in 2014. About 87% of the big enterprises that is operating in the US
Economy is actually believes the fact that big data analytics will be redefining the landscape
of industries within next three-four years. Through the utilisation of resource based theory,
the big data analytics will be looking forward to improve the distinctive capacity of firms in
setting the optimal price, detection of quality of goods, identification of loyal customers and
many more.
As opined by Banafa (2019) introduction of IOT definitely increases the target
method of security things that are closely required for the development of the business. On
the other hand, the development of IOT is closely related with the security exchanges and
will be looking forward to improve the development of the business. Through the
implementation of the business, the development of IOT will be looking to increase the
stabilisation of the use of internet. On the other hand, it is important to understand the
development of better level of the security system so that they can identify the crypto things
that are mainly associated with the supply chain management. Block chain management will
be dealing of better supply to the raw materials that will not only introduce the better quality
of goods but will also define the pattern of the business. Through the introduction of better
supply chain management, the companies will be willing to increase the competitive
advantages that will be enabling them to indulge in better involvement of the resources.
According to Herrmann, Petzold, Bombatkar, (2018) data analytics will be looking
forward to indulge the development of resources utilisation and will be looking crucial for the
development of better and effectives business. This is one of the important aspects in the

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sense that through the introduction of better involvement of stakeholders, it will be using the
resources allocation. On the other hand, the introduction of the IOT is going to introduce the
development of robotics that will enable the autopickup and auto solving of the problems of
the queries that the customers will rise. Solving the querries will be allow the development of
better sort of the quality goods that will automatically increase the customer satisfaction. On
the other hand, in order to increase the production ability of the employees most of the
organisations will be willing to increase the performance monitoring of the, so that they can
identify the development of security.
As opined by Iyengar, Kundu, Sharma & Zhang (2018) using the platform of cloud is
going to help most of the companies in increasing the information technology that will allow
the companies to increase the storage of the goods. This is important in the sense that through
the development of the business, the cloud helps in the storage of huge quantity of data that
will auto enable the companies to increase the resources. It is extremely important in the
sense that through the introduction of better innovations will bring the involvement of better
innovations. On the other hand, through the involvement of better design of the products. On
the contrary, it is important for the companies operating in the IT sectors is looking for the
development of better innovations in the technologies. On the other hand, the introduction of
IOT will be looking forward to use the cloud platforms that will not only introduce effective
technologies that will increase the production level but will also indulge in the development
of capital investments through the external stakeholders.
According to Risius & Spohrer (2017) the use of better innovations will automatically
increase the development of better innovations technology and they will be allowing the
development of better satisfaction level. Using better innovations in the IOT will allow the
development of the business but in order to continue with the orginal pace, it is important for

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the companies to incur the development of better accommodation that will increase the
comparative and competitive advantages.

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Methodology
Mostly the study will be highlighting the development of better design of advanced
model of analytics and depending on the secondary data the study will also highlight some of
the primary survey in order to know the tools of big data analytics that most of the
organisation will be using so that they can improve the production. For the purpose of the
primary survey, the study will be taking 30 employees and 4 managers to know about the use
of modern big data analytics tools that will be willing to highlight the development of the
business. Through the incorporation of better involvement of better and upgraded business
analytics tools, the organisations will be looking to indulge the development of the business.
Using the descriptive and explanatory design of the data collection, the study will be
incorporating changes in the policy making. Through the incorporation of big data analytics,
the study will try to find out the development of future goals and opportunities that will
indulge the development of better business. Through the development of this extensive
method of data collection, the study will be helping in the development of better model
specification that will automatically increase the information technology and using them in
the development of better innovations.

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USIING BLOCK CHAAIN FOR ADVVANCE ANALYTICS
Data Analysis and Results
Qualitative analysis
From the qualitative analysis, the development of big data analytics will be helping in
the development of the business and will be looking forward for the development of better
block chain management. The managers who have taken part in the qualitative analysis, has
stated the fact that using the modern tools in the form of SAS, TABLEU, PYTHON will
enable the firms that are dealing with the IT and services sectors to bring in enough
innovations in identifying the block chain management. Through the incorporation of better
design of the products it will be easy for these industries to ignite the development of better
design of the products and analysing the data collected from customers will help them in
identifying the potential level of the customers. Using the development of big data analytics,
Netflix is understanding the consumption pattern of movies of Indian customers and they are
suggesting movies based on their tastes and patterns. Through the incorporation of big data
analytics, the managers claimed that most of the firms are incorporating robotics technologies
that will auto pick up the orders of the suppliers. A bigger section of online and e-commerce
business is depending heavily on the big data analytics. They helps in the development of
consumption patterns and the big guns can get the data from the website visits of the
customers. They tend to give the customers the goods that are required to do the development
of the business. They will be able to identify the pros and cons that will be required to
introduce the innovation of the business.

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21-25 26-30 31-35 36-40
0.00
5.00
10.00
15.00
20.00
25.00
30.00
35.00 33.33
16.67
30.00
20.00
percentage of responses in age
Figure 1: Age of respondents
The quantitative analysis will be looking into the fact about the composition of the
respondents so that the study will be able to highlight the development of big data analytics
that has been claiming the fact that about 33.33 has been within the age bracket of 21-25 and
the next best group of individuals that is within the age bracket of 31-35. Mostly the services
industry is dominated by the age group between 30-35. This is important in the sense that it
will be the developing stage in most of the industries that are booming the learning process
for the use of big data analytics.
manufacturing services IT manegement finance
0.00
10.00
20.00
30.00
40.00
50.00
60.00
6.67 10.00
50.00
13.33
20.00
industry of working of resopondents

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Figure 2: Working industry of respondents
About 50% of the respondents have claimed the fact that they are working in the IT
sectors. This is important in the sense that most of these employees are using the big data
analytics that is involving the better innovation technologies that will be increasing the
supply chain management and will enable them to use better productions.
SAS R Python SQL TABLEU
0.00
5.00
10.00
15.00
20.00
25.00
30.00
35.00
40.00
45.00 40.00
16.67
10.00
6.67
26.67
Big Data Tools that will be helful in
business
Figure 3: Working industry of respondents
From the quantitative analysis, most of the customers has been claiming the fact that
in order to introduce the development of the online business, it is important to introduce the
development of block chain management. Through the incorporation of big data analytics, the
innovations in the logistics of the company is using the involvement of better accommodation
that will increase the capacity of the business by expanding the inventories.
Discussion and Implications
Through the incorporation of better technologies for the development of the business.
In order to increase the base of the customers, it is important for the company to increase the
observational power in understanding the potential tastes and preference of the customers. In

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order to ignite the tastes and preference of the customers, using big data analytics, the
development of the innovations by using the tools like SAS, R, and Python will improve the
data mining capacity of the company. On the other hand, the development of analysing power
of the data mining will be enabling the development of the business even from the open
sources of the data that are available from the third party. Advanced level of block chains
through the online business will enable the development of the better areas of investment that
will increase the innovation level. Through the use of online data, it can be seen that most of
the organisations will be looking forward to increase the performances of the team so that
they can take advanced level of the technologies in order to minimise the costs of whole
operation. On the other hand, the development of the business is going to highlight the
development of the business and will take the business into a new dimension. Using the tools
that are being mentioned above will be looking to increase the development of the business
that will increase the involvement of better relationship with the stakeholders of the company
and the suppliers of the raw materials.
On the other hand, the development of advanced analytics will be looking forward to
increase the development of blockchain management. It has been seen that blockchain is
associated with the advanced level of analysis and will be able to track all the nearby devices
that will be helpful for the development of securities. Through the introduction of innovation
process this will increase the level of the security. It has been implied that using the
developed level of IOT, is going to increase the resources utilisations that will not only
increase the resources but will also allocate the resources in an effective manner. On the other
hand, the development of better IOT will not only minimise the costs but will also indulge the
development of better supply chain management. On the contrary, if the employees are not so
skilled then they will not be able to use the advanced level of IOT. Introduction of robotics
will be looking to introduce the better development of business and will allow the companies