Implementation of business analytics

Assignment Help Finance Basics

Reference no: EM13791777

With the implementation of business analytics, an organization will also need to implement a good information systems plan in order to collect, manage, and organize all of the data. Not only is an information system needed, but the data has to be organized in a structured way otherwise any queries will produce bad results. This could be catastrophic for an organization because managers would be making decisions based on bad data. To make sure that the query generates good reports, you need to think about how to best organize data for each of the markets you are exploring.

Internet, research ways of optimizing data organization.

Respond to the following:

An organization does not have a good Management Information System (MIS) in place to help manage all of their data. What are some of the possible problems this could cause for decision makers?
Assume you are going to conduct some research in the field of toy making. What are some of the items for which you would want to collect data? For example: market trends in toy making, latest sales nationwide, etc. How would these pieces of data help the company to determine what toy to release for the holiday market?
With the implementation of an MIS for decision making, what would be some of the concerns related to ensuring that the organization can support the system? Would you control access to the system? Would there be someone to keep the data structures updated? Be sure to explain your ideas when answering these questions.
Why would an organization want to create an implementation plan for the integration of a MIS? Is this something that needs to be well thought out and, if so, why?

Write your initial response in 300-500 words. Apply APA standards to citation of sources.

Reference no: EM13791777

Questions Cloud

Summarize how the team functioned to complete their project : Summarize how the team functioned to complete their project. What are the benefits to working in this way? What are the disadvantages?

What is portfolio return : At the beginning of the year you owned $3,000 of Dollenz stock, $11,000 of Torkelson stock, and $6,000 of Nesmith stock. During the year the three company's returns were -7.6 percent, 21.4 percent, and 14.8 percent respectively. What is your portfoli..

Describe the nature and all dimensions of ethical issues : Describe the nature and all dimensions of the three ethical issues

The firm''s cost of common equity issue : What is the project's NPV? Note that if a project's expected NPV is negative, it should be rejected.

Implementation of business analytics : With the implementation of business analytics, an organization will also need to implement a good information systems plan in order to collect, manage, and organize all of the data.

Explore a companys annual report : Provide common size analysis of your company's income statement and balance sheet for the 2 most recent years (must be done using Excel with formulas).

Write a paper about argument by analogy final : Write a paper about Argument by Analogy Final.

What is involved in analyzing potential job hazards : What is involved in analyzing potential job hazards and developing an accident prevention plan that will prevent and reduce the cost of accidents

Describe the coefficient of variation : Provide a description of a scenario where this kind of decision between two types of payment streams applies in the "real-world" business setting.

User Account

All Pages