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Unleashing Business Insights: Harnessing Data Analytics for Strategic Decision-Making

Discover how historical crime data, hotel booking trends, and more drive informed decisions with the power of data analytics. From identifying predictors to combating fraud, transform raw data into valuable information for optimized business strategies.

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Unleashing Business Insights: Harnessing Data Analytics for Strategic Decision-Making

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  1. things you can do with Data MIS2502 Data Analytics

  2. By the numbers Source: http://advice.cio.com/thomas_wailgum/to_hell_with_business_intelligence_40_percent_of_execs_trust_gut

  3. It all starts with data Almost every business action requires at least one of these!

  4. Examples • Memphis Police • Use historical crime data • Place police where and when crime was likely to occur • Orbitz • Use historical hotel bookings • Relate bookings to clickstream datato identifying predictors of spending patterns • Display appropriate hotel options to site visitors http://www.ibm.com/smarterplanet/us/en/business_analytics/examples http://online.wsj.com/article/SB10001424052702304458604577488822667325882.html

  5. Two types of data ! Explain the role of transactional and analytical data in the examples on the previous slide. See this elaboration: http://bi-insider.com/posts/types-of-enterprise-data-transactional-analytical-master/

  6. Data versus information

  7. Examples of Data ?

  8. So then how do you turn data into information?

  9. Components of an information infrastructure This is what is commonly thought of as “database management” This is the foundation for business intelligence

  10. But it’s more than just the infrastructure Amazon-Apple Security Flaws in the Cloud Disconnected systems allow hackers access to Gizmodo writer’s accounts. http://www.wired.com/gadgetlab/2012/08/apple-amazon-mat-honan-hacking/ Medicaid/Medicare Fraud Detection Federal systems underused because of missing Medicaid data, disconnected systems. http://www.cbsnews.com/stories/2011/07/12/national/main20078688.shtml

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