Big Data Analysis

The ability to compete on analytics is made possible by certain qualities some companies possess which allows them to collect and use immense amounts of data in a way that differentiates the success and practices of those companies amongst any other businesses. Davenport and Harris (2007) define analytics as “extensive use of data, statistical and quantitative analysis, explanatory and predictive models, and fact-based management to drive decisions and actions” (p. 7). Therefore, to be able to compete on analytics, a firm must not only use the data to extrapolate and execute strategies and models in order to drive business, but also to use that data better and smarter than their competitors. This requires forward thinking and continual developments of current analyses and practices. With regard to Davenport and Harris’s criteria and concepts on the ability to compete on analytics, Old Navy LLC’s practices will be analyzed to find whether the company is able to compete, is a competitor, and how it competes, if at all.

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The ability of companies, governments and healthcare to harness data is important to find hidden information about how things are working in their organization. These organizations can then decide how thing should work and how things might work better depending on management decisions. Companies and governments use big data to track and analyze processes and customers for profit and efficiency. In healthcare big data is analyzed to understand how effective treatments and facilities are and make necessary changes. The bigger the data set the more necessary it is to use proper analytic techniques, types of analytic techniques are descriptive, predictive and prescriptive.

This essay is broken down in three segments: the importance of analytics

In Competing on Analytics by Thomas Davenport and Jeanne Harris, the pillars of analytic completion are stated as: “(1) analytics supported a strategic, distinctive capability; (2) the approach to and management of analytics was enterprise-wide; (3) senior management was committed to the use of analytics; and (4) the company made a significant strategic bet on analytics-based competition” (Davenport & Harris, 2007, pp. 511-512) . This section will describe Aramark’s position within these pillars.

Analytics has been used as isolated initiatives within my company. Different levels of applications of analytics is a reality. Historically, quality department has leading the way in data-driven decision process by using several statistical and quality

There is at least one field that is largely underutilizing big data and big analytics. This field is small business. Small businesses provide more than half of the jobs in the U.S. (Baldwin, 2015, para. 1), and yet, many of these businesses do not take advantage of the information that big data and big analytics can provide them. There are many ways big data and analytics can increase profits for small businesses, as long as these small businesses identify the opportunities that allow big data to work for them and as long as they work through the challenges that discourage small businesses from utilizing big data and analytics. This paper will discuss these opportunities and challenges in detail.

The promise of data-driven decision-making is now being recognized broadly, and there is growing enthusiasm for the notion of ``Big Data.’’ While the promise of Big Data is real -- for example, it is estimated that Google alone contributed 54 billion dollars to the US economy in 2009 -- there is currently a wide gap between its potential and its realization.

Today, the world’s trend in operating business focuses on data availability to enact the best suitable decision to improve, develop, and increase business revenues. Moreover, the availability of data helps to monitor and control the quality of provided products or services. However, the availability of data without proper analytics operations would have no meaning (1). Data analytics provide an important aid to an organization to figure out their position in the market in comparison with their competitors. Also, data analytics helps to identify what is the organization’s competitive ability in the market, what they should bet on, and what they should strive for. With that being said, many of today’s most successful organizations utilize

The sections below go into greater detail about how organizations can use analytics as a competitive weapon to introduce new goods and services and support existing ones.

Companies are facing a highly uncertain environment due to financial-crisis, global economy, and dealing with high-competitiveness. The value encompassing the culture of leveraging people, process, data and technology. The shared core-values and priorities of an organization has becoming essential for intelligent enterprise (Stubbs, 2014) . As Evan Stubbs described in his book (Stubbs, 2014), we need skilled employees who are involved in applying business analytics, comfortable leaders with uncertain environments and planning for unknown unknowns. Process must be linked to achieve an outcome and strongly defined, further to create specific steps that can be automated. Not less important – data and measure process for future analysis and decision-making process; convert simple data to valuable information for executives. And the technology enables to produce assets.

Business thrive when they have the most accurate, up-to-date, and relevant information at their disposal. This information can be used for a plethora of pertinent markers in small and large businesses, relating to accounting, investments, consumer activity, and much more. Big data is a term used to describe the extremely large amounts of data that floods a business every day. For decades, big data has been a growing field, facing controversy on many levels, but as of late, it has been a major innovator in the challenge of making businesses more sustainable. Big data is often scrutinized for its over-generalization and inability to display meaningful results at times. When applied correctly, data analysis can bring earth-altering information to the table.

The world is changing around us rapidly. In today’s marketplace, the main focus of any organization is to keep up the impact of effect of quick changes, monetary movements, expanding asset shortage, urbanization, aggressive competitors and innovation leap forward. They depend on the field of business analytics (BA) to have the capacity to to increase profitable bits of knowledge from this unbelievably extensive volumes of quickly changing data and make it actionable. To keep up, the Industry is looking for the talented and profoundly trained students in the field of big data analytics who can help their associations adjust to what is presently the truth. Industry consistently reports serious shortages in the number of graduates prepared to succeed in the positions concentrated on business analytics. The propose that in the previous 5 years, 130 graduate and college degree programs in business analytics have been propelled, yet the business pioneers report that there is a huge gap between the skills required and preparation that most of the institutions give to their students. In this paper, we summarize our results and provide some conclusions about analytics programs, including the current analysis and suggestions for the advancement of analytics skills,

Analytics, quantitative or statistical models to analyze problems may be applied to a variety of business problems, including customer management, supply chains, financial performance and many other. It is the back bone of any organization which helps in effective decision making. Today, it has creeped into each and every industry and has created a “perish or persist” scenario to the industries.

In today 's mind boggling business environment, the field of data analytics is developing in acknowledgment and significance (Grant and Jordan, 2015). It is assuming a basic part as a basic leadership resource for officials, particularly those overseeing expansive organizations. Notwithstanding the development in significance of Planned/Analytical and its prospects for the future, other focal subjects emerged, incorporating the differed routes in which Planned/Analytical is organized and oversaw inside these ventures (Grant and Jordan, 2015). This flags the act of analytics, while advancing as a decision-making resource, stays in its initial advancement organizes and will proceed to develop and develop the length of it creates unmistakable budgetary advantages for the company.