Question

In: Operations Management

Describe a tool used to manage data in organizations and to use this data through Business...

Describe a tool used to manage data in organizations and to use this data through Business Intelligence and Analytics.

And give an example of how the organization used the tool for competitive advantage.

Solutions

Expert Solution

Data means raw information which related to every company, at present days companies consider data as an important asset, with using effective data analytics tools companies are expected to increase their revenues by 50% by the year 2019. This data analytics tools useful to improve competitive advantage, because with using these techniques companies can understand customers preferences and useful to predict the future. Different data tools are IBM Infosphere information serve, SAS data management, PowerCenter Informatics etc...

Now I would like to explain about IBM Infosphere Information Server, it is most popular data integration process in which many data analytics products are existed.

It is useful to collect data and check the quality of data.

Example with using this data analytics tools companies can understand the future market changes and customers preferences, based on their preferences they can produce or modify products and it can useful to improve competitive advantage


Related Solutions

Describe the technical approaches that healthcare organizations can use to support and manage the BYOD trend...
Describe the technical approaches that healthcare organizations can use to support and manage the BYOD trend and explain how these can help them remain compliant with HIPAA security/privacy requirements.
Financial derivatives are used by companies as a tool to manage risks. Group of answer choices...
Financial derivatives are used by companies as a tool to manage risks. Group of answer choices True False
discuss the main concepts used by big organizations to manage their projects in order to meet...
discuss the main concepts used by big organizations to manage their projects in order to meet their organizations goal and achive the maxium utilizations of their resources?
2.1 There is a tool (way) to manage business risk. It has four parts. Explain each...
2.1 There is a tool (way) to manage business risk. It has four parts. Explain each of them giving examples. a. b. c. d. 2.2 record the audit process in an appropriate manner Lucy has also come to know of working papers. She is not too sure why they should be so important. Required - Explain the following: a. Two types of working papers. b. 5 reasons auditors need working papers. (I need the computer version of the font. Please...
A business proposal is a common tool used to convince business executives and leaders about an...
A business proposal is a common tool used to convince business executives and leaders about an idea for improvement within an organization. They are also used when a new business initiative is seeking funding – either as a stand-alone business or within the confines of an existing organization. The business proposal draft should be complete, including all components of a business proposal. This draft should be well-considered and ready for review by your peers and the instructor. Points will be...
Describe the strategy that will be used to manage stakeholders for the Water Cube project. Describe...
Describe the strategy that will be used to manage stakeholders for the Water Cube project. Describe the purpose of a stakeholder management strategy. Describe the methods that will be used to identify project stakeholders. Describe the methods that will be used to determine stakeholder communications requirements.
Data are used in business to develop solutions and drive business results in different ways. Describe...
Data are used in business to develop solutions and drive business results in different ways. Describe how the financial consulting industry uses descriptive, predictive, and prescriptive analytics as part of the business.
Describe the general approaches that organizations use to define the MARR% interest rate (hurdle rate) used...
Describe the general approaches that organizations use to define the MARR% interest rate (hurdle rate) used in the capital planning/budgeting/justification process. At a minimum, describe the opportunity cost perspective and the weighted average cost of capital in terms of this process. How do these two concepts differ? Describe what it means to adjust the MARR% rate to account for “risk.” Give examples of how/when this is done. What is the MARR Controversy? What is your opinion of this controversy?
Describe a tool or technique which can be used to analyse and improve the performance of...
Describe a tool or technique which can be used to analyse and improve the performance of manufacturing systems e.g. Rank-order clustering, Ishikawa diagrams, value stream mapping etc. and explain its basic principle, how it would be applied, the potential benefits and inhibitors to implementation.         
The Simpson’s Index is typically used as an ecological tool to describe the diversity of species...
The Simpson’s Index is typically used as an ecological tool to describe the diversity of species in a particular area. Why isn’t it fair to use the Simpson’s index we calculated using fossils as an accurate measure of the diversity of living organisms in that location during the Devonian?
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT