Performance Optimization
Automated Decision Making Using Analytics
Realities
Analytics
Configuration
Real-time Analytics
Data Mining for Enhancing Operational Decisions
Creating Dynamic Data Visualizations
Identify Cost Reduction 
Resource
Optimization: Helps in better allocation of resources and improving operational efficiency
...Benchmarking: Comparing
performance metrics against industry standards
...
Statistical Approaches for Decision Making 
Marketing Market Research, Customer Segmentation Finance Risk Assessment, Portfolio
Optimization Operations Quality Control, Supply Chain Management Human Resources Employee
Performance Analysis, Recruitment
...Operations Quality Control, Supply Chain Management Human Resources Employee
Performance Analysis, Recruitment Strategies Challenges in Statistical Decision Making While statistical approaches are powerful, they come with challenges, including:
...
Automated Decision Making Using Analytics 
Descriptive Analytics Analyzes historical data to understand past
performance ...Manufacturing Manufacturers use automated decision making for supply chain
optimization, predictive maintenance, and quality control
...
Realities 
Process
Optimization: Streamlining operations to reduce costs and improve service delivery
...Employee Engagement: Fostering a motivated workforce to enhance overall
performance ...
Analytics 
In the context of business, analytics is used to gain insights into business
performance and to inform decision-making processes
...Enhanced Operational Efficiency Analytics helps identify inefficiencies in processes, allowing for
optimization and cost reduction
...
Configuration 
Performance Optimization: Configuring systems to match the specific needs of the organization enhances performance, allowing for faster data processing and analysis
...
Real-time Analytics 
Telecommunications Network
performance monitoring and customer service
optimization ...
Data Mining for Enhancing Operational Decisions 
can be utilized to analyze supply chain data, leading to: Demand forecasting Inventory
optimization Supplier
performance evaluation 2
...
Creating Dynamic Data Visualizations 
Performance Issues: Complex visualizations with large datasets can lead to performance slowdowns, necessitating
optimization strategies
...
Business Insights 
These insights enable organizations to make informed decisions, optimize processes, and enhance overall
performance ...Optimization, resource allocation
...
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