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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 organizations activities through expertise cultivation and sharing, though external market knowledge also plays a role.
In the past, Ive 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...…adhering to ethical principles and purposeful intentions; 3) the context is practical wisdom, courage, empathy and similar virtues.
An ethical dilemma faced in the past involved identifying potential privacy violations from our online automated data collection protocols and determining how best to resolve it.
2. Online reputation management
This is the process of monitoring, managing and improving reputation and brand visibility across internet channels, especially search results and social media.
Primarily online social media platforms
I have found the companies that have dedicated employees to monitor and respond to consumer feedback enjoy better reputations.
Impediments to Integration of Business Analytics With Business Intelligence and Knowledge Management Data Business Analytics Impediments to Integration of Business Analytics The consumer is out to emphasize that 'he is the king'. Accordingly, his demands for enhanced quality and timely deliveries of the products' order by them has revolutionized the management gurus to evolve new business strategies to enhance the intensity of coordination and communication between the seller and the consumer. Two key
BUSINESS ANALYTICS Business Analytics: Ratio AnalysisThe ratios captured in Table 1 below would come in handy in efforts to assess Southwest Airline�s current performance level.RatiosFormula20212020Profitability Ratios:i. Return on Total Assets (ROA)............................ii. Return on Stockholder�s Equity (ROE)Profits after Taxes/Total Assets..............................................Profits after Taxes/Total Stakeholder�s Equity977,000/ 36,320,000 = 0.03................977,000/ 10,414,000 = 0.09-3,074,000/ 34,588,000 =-0.09.....................-3,074,000/ 8,876,000= -0.35Liquidity Ratio: Current RatioCurrent Assets/Current Liabilities18,036,000/ 9,164,000 = 1.9715,173,000/ 7,506,000 = 2.02Leverage Ratio: Debt-to-Assets RatioTotal Debt/Total Assets12,281,000/ 36,320,000
Task One � Business Analytics ConceptsPart ACluster analysis is a method that groups the same observations into several clusters based on the observed values of numerous variables for every individual. Cluster analysis encompasses the organization of items into different groups based on how such groups or clusters are closely linked to one another. Cluster analysis aims to determine the same groups of subjects in that similarity between every pair of
analytics in business in 2016 is intrinsically tied into one of the most common business buzzwords of the new millennium, "big data." Whatever strategies were employed in utilizing the concept of analytics for business before the twenty-first century, it is clear that now analytics hinges almost entirely on the concept of big data. This is something that Duan and Xiong (2015) make clear in their journal article on "Big
facilitating change within an organizational setting, by outlining and recommending solutions that deliver value to stakeholders. It is the set of everyday jobs and practices employed to function as a connection among stakeholders to comprehend the system, strategies, and processes of an organization, and to reach solutions that help the organization to attain its objectives (IIBA, 2015). Business analysis consist of comprehending how organizations operate to achieve their objectives,