The New Frontier: Data Analytics
The New Frontier: Data Analytics
Yvonne Mitchell
Strayer University
Professor Raied Salman
Info Syst Decision-Making
January 12, 2015
The New Frontier: Data Analytics
What is data analytics? How has its use in business evolved over time? What are the advantages and disadvantages of using data analytics within a specific company or industry? Are there any challenges or obstacles that business management must overcome in order to implement data analytics? If so, is there a strategy that can be used to overcome those challenges or obstacles? How has data analytics transformed the healthcare industry with regard to customer responsiveness and satisfaction? Within the next ten years, what do you think the trend in using data analytics will be focused on? This paper is aimed to answer all of the questions above. I will use the healthcare industry as the basis for my paper.
Many companies are successful in understanding how to meet customer expectations, gain new customers and increase productivity and efficiency by using business intelligence and data analytics. The tools and techniques used by business intelligence give real time insight so that companies can identify opportunities, risks and track trends quickly. Collecting data alone is useless until it is analyzed. This is where data analytics come in. Data analytics is the process of obtaining and evaluating data using specialized software with the purpose of extracting useful information. (4) Data analytics is used in many industries to allow companies and organizations to make better business decisions quickly. The speed at which data is collected, organized and evaluated is critical given the speed at which technology continues to change. I believe more and more companies are utilizing data analytics so they can gain advantages over their competitors. Technology is obtaining more data than in the past so companies are seeking better ways to receive value from that data. The term business
Yvonne Mitchell
Strayer University
Professor Raied Salman
Info Syst Decision-Making
January 12, 2015
The New Frontier: Data Analytics
What is data analytics? How has its use in business evolved over time? What are the advantages and disadvantages of using data analytics within a specific company or industry? Are there any challenges or obstacles that business management must overcome in order to implement data analytics? If so, is there a strategy that can be used to overcome those challenges or obstacles? How has data analytics transformed the healthcare industry with regard to customer responsiveness and satisfaction? Within the next ten years, what do you think the trend in using data analytics will be focused on? This paper is aimed to answer all of the questions above. I will use the healthcare industry as the basis for my paper.
Many companies are successful in understanding how to meet customer expectations, gain new customers and increase productivity and efficiency by using business intelligence and data analytics. The tools and techniques used by business intelligence give real time insight so that companies can identify opportunities, risks and track trends quickly. Collecting data alone is useless until it is analyzed. This is where data analytics come in. Data analytics is the process of obtaining and evaluating data using specialized software with the purpose of extracting useful information. (4) Data analytics is used in many industries to allow companies and organizations to make better business decisions quickly. The speed at which data is collected, organized and evaluated is critical given the speed at which technology continues to change. I believe more and more companies are utilizing data analytics so they can gain advantages over their competitors. Technology is obtaining more data than in the past so companies are seeking better ways to receive value from that data. The term business