Discussion Post Ethical Business Analytics

Discussion Post: Business Analytics

Chapter

Concepts

Definition

Context

Personal Example

12. Business Intelligence, Knowledge Management, and Analytics

1. Four modes of knowledge conversion:

four modes of knowledge conversion within organizations. 1) socialization involves sharing tacit org. knowledge through direct interaction and shared experiences; 2) externalization involves the communication and codification of tacit knowledge; 3) combination refers to the synthesis and organization of explicit knowledge to create new explicit knowledge; and 4) internalize-tion is the by which learning from explicit knowledge sources and internalizing that information into personal tacit knowledge takes place.

1) Business intelligence refers to the collection, storage, processing, analysis and visualization of data which can be converted into tables and graphs to support more informed business decision making.

2) Knowledge management builds on business intelligence, but focuses specifically on the practices around capturing, distributing, and maximizing the use of knowl-edge as an organizational asset.

Mainly internal, centered on informing an organization’s activities through expertise cultivation and sharing, though external market knowledge also plays a role.

In the past, I’ve used business intelligence and analytics to aggregate data on sales trends, correlating various metrics with revenue and creating graphs to facilitate understanding.

 

2. Social media analytics

This concept refers to aggregating and analyzing data from social platforms to identify patterns and fresh insights to guide business strategy.

Distinct from the concepts discussed above, social media analytics has emerged as its own discipline in response to the massive amounts of consumer data that is generated across social platforms every day.

In response to a freelance contract with an online boutique that sells eco-friendly apparel and wanted to improve brand awareness among college students, I used social listening tools to systematically gather content from a variety of social sites about relevant topics like sustainability, fabrics, recycling, and more.

 

 

 

 

 

13. Privacy and Ethical Considerations in Information Management

1. Three normative theories of business ethics

1) Utilitarian-ism holds that the morally right action maximizes happiness, well-being and prosperity for the greatest number; 2) deontology focuses on the inherent rightness of actions themselves, based on underlying rules and duties such as truth-telling and promise-keeping; 3) Virtue ethics draws on the moral character behind actions rather than just deeds them-selves or their consequences.

 1) The context is weighing decisions based on their quantitative outcome - the greatest good for the greatest number; 2) the context revolves around adhering to ethical principles and purposeful intentions; 3) the context is practical wisdom, courage, empathy and similar virtues.