Question

In: Operations Management

May i get a positive respond about the comment below. As Data Analytics enabled businesses to...

May i get a positive respond about the comment below.

As Data Analytics enabled businesses to optimize their supply chains, there are barriers that create complexities in regards to implementation. Execution depends heavily on the analysis of the information obtained, mostly through consumer-driven data. Examples of barriers that businesses may face in implementation would be obtaining the data in general, cost-effectiveness and the unusual case of IT systems built on Legacy systems. Another barrier that challenge businesses looking to capitalize off data analytics would be a multi-layered issue regarding organizational culture and work environment. Overcoming these barriers in implementation are essential for utilizing the substantial amount of data these businesses collect.

            The process of simply obtaining the information is a barrier in itself. Businesses have to continue to adapt in terms of technological capabilities, especially in this era in time. The advancement in technologies such as RFID, which stands for Radio Frequency Identification Device, which enabled businesses better capabilities in tracking and managing inventories. In instances where business trying to optimize their systems by utilizing new technology are faced with another barrier, which old legacy IT systems prevent businesses from seamless adaptation. An example from the textbook, regarding RFID tags, shows how the incorporation of new technology can backfire as well. Errors in reliability in its early roll out of RFID, affected its adoption rate and cost remained high as a result.

            Organizational culture and capabilities are another barrier that get in the way of implementation. An organization that isn’t necessarily equipped with the correct talent to handle the workload is just as ineffective, regardless of how much information a company has to analyze. As long as a culture exists that supports data-driven decisions, this barrier is easily resolved. As more businesses began to utilize these data analytics, outsourcing of this process enabled third party companies to emerge whose sole purpose are to data mine. These third party data mining companies became a profitable business which in turn, increased stakes between businesses competitively. This scenario enabled businesses who would rather pay big money to have access to these other huge databases that are being mined. Another barrier may emerge as more businesses look to outsource this data analysis.

            In conclusion, Data Analysis is not an overnight solution for businesses looking to optimize their logistics and supply chain. There are unique barriers that each business must identify and overcome to achieve successful data analytics implementation.   

Solutions

Expert Solution

answer-

***** please please please like my answer and give an UPVOTE. It gives me a small Help too. Thank you****

Positive response or feedback to the post-

yes, it is very True That data analtics has enable businesses to make their functions and operations like supply chain more effective and efficient but A company also faces barriers which hinder the implementation of Data analytics in an organization.

First barrier a Company always consider when they purchase and implement a system like data analytics. That is Cost. Every company wants to do business at low cost so they do everything to keep their cost low. This focus lead them to dilemma that data analytics is costly so they should implement it or make use of current system and save cost.

second barrier i would say resistance to change which is very similar what you give legacy systems. Any kind of change in organization which make employees and executive to do thier job in different manner then they try to resist it. The data anlytics is completely different system which require new knowledge, skill, experience so employees tend to resist the system. organization can solve this by communicating its benefits and provide training to employees.

Walmart is known for using RFID to manage its inventory and supply chain for decades but if company want to introduce new method then workers who know how to use old method will resist new method in management of inventory and supply chain.

So i agree with your views because i also think Company and management must look for all aspect as this is not easy decision. it takes time and proper research.


Related Solutions

May i please get a positive feedback about the comment below. Money is often seen as...
May i please get a positive feedback about the comment below. Money is often seen as a barrier to why companies have not started using data analytics software. So, what are the barriers keeping companies from utilizing the software that has proven to pay for itself in relatively short periods of time? The software has allowed companies to gain insights and create decisions based on big data analytics. Companies that want to gain insight in forecasting successfully must effectively use...
I need a positive feedback about the comment below made by my classmate. How do organizations...
I need a positive feedback about the comment below made by my classmate. How do organizations make decisions to pursue a global strategy? -One major reason is the nature of the industry in which they operate. Firms that pursue a global strategy are typically highly centralized and at the same time bring in cultural diversity and creativity as well as best practices.\ How can expanding globally become a threat to a multinational enterprises (MNEs) reputation? Explain with the help of...
Please read and respond to the three questions below. Please comment or respond to at least...
Please read and respond to the three questions below. Please comment or respond to at least two of your classmates in addition to your initial post. Do not forget to cite your sources. 1. Under what conditions of bond issuance does a discount on bonds payable arise? Under what conditions of bond issuance does a premium on bonds payable arise? 2. How should discount on bonds payable be reported on the financial statements? Premium on bonds payable? 3. What are...
Choose one of the scenarios below and respond in an appropriate way to the prejudiced comment....
Choose one of the scenarios below and respond in an appropriate way to the prejudiced comment. Also, explain why you have chosen to respond as you have. Scenario 1 Background: Two women were hanging out after school and went to get coffee. They were discussing various topics, and the discussion turned to a sibling who is gay. Speaker: The student’s sister (college-aged) Responder: A female college student Comment: "I don’t know if I can hang out with Kate in public...
Business Analytics Could I get the answer on a downloadable excel sheet please? if i cannot...
Business Analytics Could I get the answer on a downloadable excel sheet please? if i cannot get the downloadable file here on chegg: my email is [email protected] i can paypal $10 for the answer. Market Insights Co. (MIC) is a full-service market research company. MIC is being hired to interview registered voters in a district to gain insight into their opinions about certain issues. Each voter is to be interviewed in person. The costs of interviewing different types of voters...
I need a positive replay for this comment without plagirism please: "I think EHRs are a...
I need a positive replay for this comment without plagirism please: "I think EHRs are a positive for the medical profession because they provide an electronic database for the institution. All of the information is in one place and the information can be shared easily between doctors, nurses, and staff. This is beneficial because the doctors or nurses do not have to search for the paper files and then physically share them with each other. Instead, each doctor or nurse...
BELOW IS A DISCUSSION BETWEEN FINANCIAL AND MANEGERIAL ACCOUTING I WOULD LIKE YOU TO COMMENT ABOUT...
BELOW IS A DISCUSSION BETWEEN FINANCIAL AND MANEGERIAL ACCOUTING I WOULD LIKE YOU TO COMMENT ABOUT IT AND DEMONSTRATE MORE DEPHT AND TOUGHTS THAT SIMPLY STATING THAT "I AGREE" OR "YOU ARE WRONG" BUT HAVE TO MAKE SURE YOU PROVIDE MEANINGFUL AND RELEVANT RESPONSE POSTS WITH CLARIFYING EXPLANATION AND DETAIL. PLEASE DONT DO NO LITTLE EXPLANATION OR DETAIL BECAUSE I WILL NOT PASS. Financial vs managerial accouting Financial and managerial accounting work side by side to help run a successful...
BELOW IS A DISCUSSION BETWEEN FINANCIAL AND MANEGERIAL ACCOUTING I WOULD LIKE YOU TO COMMENT ABOUT...
BELOW IS A DISCUSSION BETWEEN FINANCIAL AND MANEGERIAL ACCOUTING I WOULD LIKE YOU TO COMMENT ABOUT IT AND DEMONSTRATE MORE DEPHT AND TOUGHTS THAT SIMPLY STATING THAT "I AGREE" OR "YOU ARE WRONG" BUT HAVE TO MAKE SURE YOU PROVIDE MEANINGFUL AND RELEVANT RESPONSE POSTS WITH CLARIFYING EXPLANATION AND DETAIL. PLEASE DONT DO NO LITTLE EXPLANATION OR DETAIL BECAUSE I WILL NOT PASS. Class, Financial Accounting is mainly correlated to financial statements like income statements and balance sheets, debits &...
"Please can I get a feedback on this discussion post below" Can I get it in...
"Please can I get a feedback on this discussion post below" Can I get it in 2 hours please .thanks Tesla is a company recently in the news for a conflict of interest between the SEC and the CEO Elon Musk due to an interest to bring the company private by the CEO who shared on Twitter his short term plans. Production issues, a number of layoffs and the increasing demand for the electric vehicles were expressed by the CEO...
“Marketing analytics allows businesses to generate data-driven marketing and compete more effectively in the marketplace”. Discuss.
“Marketing analytics allows businesses to generate data-driven marketing and compete more effectively in the marketplace”. Discuss.
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT