This will establish the company as a partner and will help win repeat business. • Cross-selling and Up-selling Technoxander Consulting has a perfect mix for success as it will offer consulting services along with a Predictive Analytics product - SentiGauge. The company will penetrate the market by selling consulting services but will be on the look-out for opportunities where the company’s product ‘SentiGauge’ can be implemented. This mix of services and product will establish continued engagement with the client base. • Niche skill
These data increase more and more and it is difficult to retrieve the actionable information from traditional data warehouse in the near real-time (Hafez, 2010). As the technologies are growing, people can find the information for the best vendor using the internet. Therefore it is important to provide the best customer service to get the new customers and keep the existing customers. Organizations need to measure their performance on business process to succeed continuously. The integration and analyzing of whole organization’s knowledge and information into the actionable information lead to the long-term success for these organizations.
Big Data Analytics offers companies the ability to leverage on the enormous amounts of information driving their global supply chains, Harvard Business review, (2013). Companies are aware that Big Data can be leveraged at various levels of a business. This holds true for supply chain management also. The combination of large, high velocity and varied structure of big data and advanced analytics tools and techniques represents the next frontier of supply chain innovation, Libor K, Christian G, and Michele B
In today’s world technology has proven to behave as the medium through which businesses function. Allowing them to use technology as a competitive advantage by using business information systems (BIS), which is defined as the channel through which people, information technology and businesses are connected. (Gunasekaran, 2013) The significance of business oriented information systems is based on the increased speed of gathering and distributing information. Furthermore, since information is accurate, tailored to specifications and is up-to-date, the process of decision improves and is taken faster. For instance, business information systems are capable of preparing cost estimates and forecasting reports for analysis.
In modern economic system and business environment, having a correct business strategy directly influence the efficiency and the future of the firm. Most of leaders of a company runs their business with a planned strategy with predicting trend of demand, flow of resources allocation and long term aggregate planning. But in most of cases, it had been proven that the real world situation is normally different from what we planned. Modern customer’s behavior becoming harder and harder to predict due to the varieties of the products. New resources are keep appearing to replace the old one and new technology changes the operation model of customers and company.
Operational: This big data category includes objective metrics that measure the quality of marketing processes relating to resource allocation, marketing operations, budgetary controls, etc. Financial: Housed in an organization’s financial systems, this category of big data includes sales, revenue, profits and other objective data types that measure the financial health of an organization. Challenges 1. Mapping the customer journey It is important for marketers to understand how the customers eventually move from brand awareness to brand conversion. Even in the digital age, tracking this process can be extremely troublesome.
Running Head: BUSINESS ANALYTICS Business Analytics Name Institution Business Analytics Introduction Business analytics is one of the revolutionary tools in the corporate world. Used as a decision-making tool, business analytics is used as a basis for making decisions based on the available data. The main idea behind making an evidence based decision is to ensure that the decisions are not only thoroughly informed but also viable. Viability, in this case, relates to the prevailing market conditions and the internal conditions of the organization. Business analytics are also used to improve the effectiveness of decision making.
This linkage indicates that when business strategy is changed, the IT strategy also should be changed to adapt with new market changes. In their paper, data is collected from different levels in bank to give more accurate result for analysis. They analyzed the data and found the result as below: 1. An evaluation of the interconnection between commercial enterprise and IS techniques, the findings found out that crucial data systems are mentioned in IT strategy and connected to business approach and this means that the financial institution’s business and IS strategies are interconnected. 2.
The Business Environment In today’s rapidly changing environment, all businesses depend heavily on the environment for its operations in terms of labour, customers, new technology and products/ services, markets and resources. The key element for a firm to stay in business today is to keep up to date with environment changes. Businesses must adapt to political changes, economy changes, for example in times of recession, understand new technologies and also the environment itself in terms of foreign exchange rates. In a firm’s immediate environment, firms need to maintain healthy relationships with their suppliers and customers etc. The environment is constantly changing with new technology emerging, customer preferences and regulations changing.
Introduction Every establishment sees the need of technology not as an option but as an absolute necessity. Almost every business or an organization relies on technology for their daily operations, like an entrepreneur, who is just starting up, or even a veteran business man. Every one relies on technology. Let’s see how technology can affect organizational behavior. Use of advanced technology tends to increase productivity while decreasing user inconvenience.