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The Right Way To Apply Analytics In Business Essay

Big Data

Big data analytics is very important to sales and retailers, which I can attest to from personal experience. Sales reps of consumer goods brokerages will use analytics when they pitch their ideas to retailers like Krogers for the good reason that analytics works: it helps them to see how customers interact with displays, product arrangements and organization, lighting, spacing, and more. As LaValle et al. (2011) point out, selling is really as much a matter of logistics as it is about bringing a quality product to market. Marketing, customer service, customer engagement, and experience management all play a part in retailers ability to obtain competitive advantage. Sales representatives...

(2011) also note, a typical organization usually has more data than it can use effectively (p. 22). Therefore, simply having the data is not enough. One has to know how to interpret it and use it to ones advantage. The key to using analytics well is to link it to business strategy and make it easy for end-users to understand. That is what enables the right...
…the time it takes to get to value, increase the chances the organization has of making important transformations, and focus attention on pursuing steps that are actually achievable.

It is about leveraging information instead of being overwhelmed by it. Rather than burying oneself under a pile of data that are irrelevant to ones specific questions or challenges, one can think of big data is a salt dump: when the roads become icy, the salt is there to ice them and make them safe again. One doesnt unnecessarily dump the salt on the roads when it is not needed because that makes the roads less efficient. Data are there to helpnot…

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References

LaValle, S., Lesser, E., Shockley, R., Hopkins, M., & Krushwitz, N. (2011). Big data,analytics and the path from insights to value. MIT Sloan Management Review, 52(2), 21-31.

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