In this highly competitive business environment businesses

Question

Assignment 1: The New Frontier: Data Analytics

In this highly competitive business environment, businesses are constantly seeking ways to gain traction and understand what is on the minds of current customers and potential customers in order to increase business efficiency. Many companies have turned to business intelligence (BI) and data analytics.

Use the Internet or Strayer Library to research articles on data analytics. Select one (1) industry or one (1) company that is currently using data analytics. Use the industry / company you have selected as the basis for your written paper.

Write a four to six (4-6) page paper in which you:

1. Define data analytics in general and provide a brief overview of the evolution of utilizing data analytics in business.

2. Analyze the main advantages and disadvantages of using data analytics within the industry or company that you have chosen.

3. Determine the fundamental obstacles or challenges that business management in general must overcome in order to implement data analytics. Next, suggest a strategy that business management could use to overcome the obstacles or challenges in question. Provide a rationale for your response.

4. Analyze the overall manner in which data analytics transformed the industry or company you selected with regard to customer responsiveness and satisfaction.

5. Speculate on the trend of using data analytics for the chosen industry or company in the next ten (10) years. Next, determine at least one (1) additional type of data that one could collect by using data analytics. Provide a rationale for your response.

6. Use at least three (3) quality references. Note: Wikipedia and other Websites do not qualify as academic resources.

Answer 1

Use internet and other resources to research articles on data analytics. Choose one company or industry which is presently using data analytics. On the basis of your chosen company, write a paper in 4 to 6 pages word document. Q1. State data analytics in general and give a brief synopsis of the evolution of using data analytics in business. Q2. Examine the main merits and demerits of using data analytics in the industry or company which you have selected. Q3. Find out the basic obstacles or challenges which business management in general should overcome in order to implement the data analytics. Propose a strategy which business management could employ to overcome the challenges or obstacles in question. Give a rationale for your response. Q4. Examine the overall way in which data analytics converted the industry or company you chosen with regard to customer receptiveness and satisfaction.