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What role will Information Systems/Business Analytics play in monitoring performance and enabling adjustments to the company's behavior as needed? More specifically, a) What data will the company need to draw upon to analyze the performance measures? What will be the source(s) of these data? Be sure to indicate whether these sources are internal to the company or external. (Hint: Many business issues draw on, and integrate, multiple sources of data.) b) Which of the Business Analytics tools and techniques that we discussed in class or that are covered in Chapter 15 of Gallaugher will you use for studying the proposal's success and the performance measures? Explain why the tools and techniques you plan to use are appropriate.
Here is a quick overview of the tools and techniques to consider:
· Simulation Modeling
· OLAP and Pivot Tables-that is, manipulating multidimensional data cubes.
· Performance Dashboards
· Data Mining-including mining of numeric data, text (for instance, blogs and postings on social network sites), and logs of web traffic (web mining).
· Predictive Analytics-using statistical techniques to make forecasts about future behavior.
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