Decision Making Models
Importance of Analytics in Business Strategies
Key Metrics for Analytics
Architecture
Evaluating Operational Data
Enhance Performance Management
Roles
Data Mining Techniques for Assessing Marketing
Big Data Solutions for Fraud Detection 
Visualization: Presenting data insights through dashboards and reports for better
decision-
making ...Building predictive
models to assess the likelihood of fraud based on historical data
...
Organizational Development 1970s: The emergence of various OD theories and
models, including the Organizational Culture model by Edgar Schein
...Description Change Management The process of preparing and supporting individuals and teams in
making organizational change
...Development Business analytics plays a crucial role in organizational development by providing data-driven insights that inform
decision-making
...
Importance of Analytics in Business Strategies Organizations leverage various forms of analytics to make informed
decisions, optimize operations, and enhance customer experiences
...Predictive Analytics: Uses statistical
models and machine learning techniques to forecast future outcomes based on historical data
...Prescriptive Analytics: Provides recommendations for actions based on predictive outcomes to optimize decision-
making ...
Key Metrics for Analytics key metrics play a crucial role in evaluating the performance of
models, understanding data characteristics, and driving
decision-
making processes
...
Architecture It encompasses various components, including data
models, databases, data warehouses, and the technologies that support them
...Effective architecture is crucial for ensuring data integrity, security, and accessibility, which ultimately drives informed
decision-
making and strategic planning
...
Evaluating Operational Data By systematically evaluating operational data, organizations can make informed
decisions that enhance productivity and drive growth
...Improved Decision
Making: Data-driven decisions are often more effective than those made on instinct or anecdotal evidence
...Techniques include: Optimization algorithms Simulation
models Tools for Operational Data Evaluation Various tools and software are available to assist organizations in evaluating operational data: Tool Type Use Case
...
Enhance Performance Management organizations can: Identify performance trends Understand the factors influencing performance Make data-driven
decisions Enhance operational efficiency Types of Analytics in Performance Management There are three primary types of analytics that play a crucial role in performance
...Predictive Analytics Uses statistical
models and machine learning techniques to predict future outcomes
...Guides decision-
making by suggesting optimal strategies for performance improvement
...
Roles SQL and Excel proficiency Essential for
making data-driven
decisions
...Data Scientist Building predictive
models Data mining and machine learning Communicating findings to non-technical stakeholders
...
Data Mining Techniques for Assessing Marketing It involves extracting valuable insights from large datasets to inform business strategies and
decision-
making ...Simulation
Models different scenarios to assess potential outcomes and impacts
...
The Impact of Cloud Computing on BI organizations to store, process, and analyze data over the internet, cloud computing has opened new avenues for data-driven
decision-
making ...Hybrid Cloud Solutions: Many organizations are opting for hybrid cloud
models that combine on-premise and cloud solutions for greater flexibility
...
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