Question: How do I respond or commend to the below's post by including suggestions to it? Business analytics is a process of transforming data into actions
How do I respond or commend to the below's post by including suggestions to it?
Business analytics is "a process of transforming data into actions through analysis and insights in the context of organizational decision making and problem solving. " (Evans, 2020). Business analytics play an important and multi-faced role within an organization. It provides support for strategic planning, delivers value, and creates a competitive advantage. However, there are different types of business decisions that can be enhanced with the use of analytics. Such as pricing for example, setting prices for consumer and industrial goods, government contracts, and maintenance contracts, customer segmentation, like identifying and targeting key customer groups in retail, insurance, and credit card industries and, merchandising, which is determining brands to buy, quantities, and allocations. Location is also important then lastly supply chain design to help find the best sources and delivery routes. I used business analytics at work when it comes to locations of projects for my programs as they have to be in certain types of locations for approval. I also use business analytics on working my little shop where I make t-shirts, so knowing how to price them and know what is popular and what will sell. (Ashly)
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