recent trends in business analytics – exclusivewritings.com

This is a discussion post….

  • Do some research on recent trends in business analytics such as Google Analytics, cloud computing, artificial intelligence, machine learning and so on.
  • Focus on one trend and discuss its relevancy to your business or any business you would like to discuss.
  • Consider how these analytics tools would impact business decision making.

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please reply to the following:

Good morning everyone!

Currently, many trends are happening, and they can be utilized by businesses to acquire many benefits. Examples of the trends that can be researched with the aim of facilitating viable decision making include google analytics, artificial intelligence, cloud computing, and among others. Cloud computing is an activity that involves applying remote servers on the internet to store, manage, and process (Catteddu & Hogben, 2015). One of the benefits is that the business will minimize the costs related to IT. This argument can be supported by the fact the business will not be required to buy expensive equipment. Also, the maintenance costs of such equipment will also be eliminated as well.

Another benefit is that the business will be assured of continuity in case of the unexpected situation happens (Muller, Holm, & Sondergaard, 2015). For instance, theft or natural disasters s cannot affect the data that can be accessed with equipment provided the logins are there. The business will also experience the flexibility of work among employees and even owners. In this case, the employees can access the data in their homes or any other place when the need arises without going to the office. Lastly, cloud computing facilitates collaborative efficiency. This can be observed in a situation where the project in business is done in a different location. In this case, one person can upload the work into the cloud and then the other person can access it in another place hence save costs and time (Muller et al., 2015). It is important to note that cloud computing relieves the business many activities (Muller et al., 2015). Generally, when a company has few activities to attend to the quality of the work will automatically rise. This means that the decision making since it is one business activity will also be effective and most appropriate.

References:

  • Catteddu, D., & Hogben, G. (2015). Cloud Computing-Benefits, Risks and Recommendations for Information Security. The report, European Network, and Information Security Agency, Nov. 2009.
  • Muller, S. D., Holm, S. R., & Sondergaard, J. (2015). Benefits of cloud computing: literature review in a maturity model perspective. Communications of the Association for Information Systems, 37, 851-878.

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Please reply to the following:

Hello Class,

Many companies use analytics to help determine what costumers are coming to their site for, demographics, time spent, things looked at, and Analytical tools logs a lot of other data that can be useful. Google Analytics is paid for through businesses to get a good picture of this data so they can make business decisions off of the data. According to Nordmeyer, (n.d.), “Trend analysis is a decision tool that leaders use to guide the selection and limit the risk of operational, tactical and financial strategies. With this tool, leaders make choices based on trends that suggest the relative probable success of one opportunity versus another, which prevents the implementation of a strategy that’s selected based on little more than a hunch.” Compiling data that can be gathered through these analytical tools is imperative for businesses. You could work at a store all day and see thousands of people and still not have a good idea on all the different things that people are looking at or being bought. Especially leaders who normally are not in the actual stores. That is why Analytical tools such as Google Analytics are so important. They gather all the data for you so then you can interpret the data and make decisions off data versus the way you feel.

(2020, Mar. 29). Get a Complete View. from https://marketingplatform.google.com/about/analytics/benefits/

Nordmeyer, Billie. (n.d.). Business Trend Analysis. Small Business – Chron.com. Retrieved from http://smallbusiness.chron.com/business-trend-analysis-72438.html

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