¶ … Opportunities Current Company/Organization Utilize Business Analytic
The primary area in which my current organization can utilize business analytics is in satisfying our increasingly growing customer base. I work for an information technology product development company. Therefore, it is our business to develop the products for business intelligence, analytics, and a host of applications for these tools such as enterprise resource planning, customer relationship management, enterprise mobility and cloud computing for customers worldwide. The principle way in which this organization can utilize business analytics is to ascertain what the most popular product is to what customer base in order to assist in the research and development of more products that can increase customer advantage.
This process is actually a fairly lengthy one, and one which is dependent upon business analytics for success. Gauging customer sentiment is no longer something that organizations can do simply by monitoring what sales are made of various products to whom (although it should be noted that this sort of monitoring, in which business analytics is useful, is vital to maintain a competitive edge). In order to most accurately gauge customer feedback and input which one can incorporate into future research and development, it is becoming increasingly necessary to monitor sentiment data -- one of the most direct means of customer input -- via...
Analysis of sentiment data for the most part requires Big Data platforms with analytics to match.
Essentially, business analytics is required to perform a variety of tasks related to Big Data and customer feedback. They must account for the proverbial "three V's" of Big Data -- its volume, variety and velocity. There are several analytics tools -- some of which are becoming self-service such as data discovery tools -- that can account for the immense variety of Big Data that sentiment data comes in. Such variety includes blogs, videos, and various text programs. Therefore, search tools and semantics technologies are required for analysis of textual data, while semantics and ontologies can also prove useful for any form of data, such as video data. Additionally, advancements in discovery tools are critical for knowing when to issue reports and on what particular aspects of data to do so due to interactive visualizations and dashboards that make discerning trends more readily accessible.
It is essential for my organization (or any organization with a dedicated Big Data initiative, really), to go to the Cloud for analytics. There are a number of increasingly reputable third-party service providers that can perform the aforementioned business analytics operations. However, since I work for one of the more large organizations in IT development, we certainly have the staff available and knowledge enough to perform…
