Analyse and evaluate the use of business data

Assignment Help Other Subject

Reference no: EM132343319 , Length: word count:1000

Data Analysis and Decision Modelling Assessment - Business analytical report

Learning objectives -

Explain the importance of information as an organisational resource and to develop an appreciation for issues in managing data/information/knowledge

Apply graphical and numerical tools for organising, analysing, interpreting, and presenting data.

Course learning objectives:

Retrieve, analyse, synthesise and evaluate complex information, concepts and theories from a range of sources.

Aligned professional standards/competencies: CPA Australia Section 3: Professional skills, competency areas and learning outcomes.

Description - The aim of this assessment is to report on the analysis and evaluation of your organisation's business data via a SWOT analysis, and recommend enhancements for business success.

Instructions -Assume that you are the business analyst of your business. The management team has requested you to perform a business overview to:

Identify, analyse and evaluate the use of business data and level of analytics applied within your business.

Conduct a SWOT analysis to summarise the strengths, weaknesses, opportunities and threats (SWOT) in regards to the use of business analytics in your business.

Based on your SWOT analysis, provide recommendations on how your business can better use business analytics to provide insights and create value for your business.

Write a 1000 word report summarising your analysis, findings and recommendations to the management.

SWOT Reference - Business Queensland. (2017, Jun 20). Example SWOT analysis.

Ward, S. (2018, September 26). SWOT Analysis Example (Strengths, Weaknesses, Opportunities, Threats).

Creating value from your business data - We know businesses typically collect large volumes of data with relative ease. However, data is often meaningless until it is analysed for trends, patterns and relationships. It then becomes useful information.

While understanding business data is a necessity in every organisation, creating value from the data, to improve business performance, is the core of what organisations aim to achieve. Therefore, knowing the processes and types of tools that allow organisations to manipulate, combine and analyse data and generate insights is vitally important.

Business analytics refers to the skills, tools, technologies and processes used by organisations to iteratively explore and investigate past and current business performance to gain insight that will drive business planning. It is ultimately about how we extract insight from data, so that we can make good decisions that positively influence our organisations.

The power of the analytics depends on the model and tools we use to analyse and communicate the insights of the findings. Insight is the value obtained through the use of analytics. The insights gained through analytics are incredibly powerful, and can be used to grow a business by identifying areas of opportunity.

In Weeks 1 and 2 you have learned about business data and identified the types of business data that is available and used in your organisation. You will also have learned how to apply the appropriate analytics to provide insights and create business value for your business.

You are now ready to look into how your business can better use business analytics to provide insights and create value for your business.

Length: 1000 words.

Reference no: EM132343319

Questions Cloud

Which philosophy do you agree with : Statement 1: "there is a certain crowd in Washington who, for the last few decades, have said, let's respond to this economic challenge with the same old tune.

Compare and contrast the timetable of an adolescent dancer : BA Hons Dance Education- DE503: Safe Practice and Optimising Performance- Dance and Growth-hat considerations are necessary to ensure the overall health.

Discuss your company organizational culture : Discuss your company's organizational culture. What are the ways you can help ensure that the company's culture fosters creativity and innovation among employee

Identify risk factors for injury measures : The Ankle and Foot-DE503: Safe Practice and Optimising Performance-BA Hons Dance Education-Identify risk factors for injury measures.

Analyse and evaluate the use of business data : Data Analysis and Decision Modelling Assessment - Identify, analyse and evaluate the use of business data and level of analytics applied within your business

What is the predominant leadership or management style : What is the predominant leadership or management style of the leader/manager? Why does the individual deem that to be predominant?

Types of office design influence employee social interaction : How might different types of office design influence employee social interaction, collaboration, and creativity?

How Do Business Managers Drive Value From Business : Assignment - How Do Business Managers Drive Value From Business Information Systems? Evaluate changes to information technology infrastructures

Explain the hearsay rule with example : Write a short paper, 200-300 words. In your own words, explain the hearsay rule and describe how it relates to the concept of an expert witness.

User Account

All Pages