MIS171 Study Guide - Final Guide: Sample Space, Standard Deviation, Replication (Computing)
Document Summary
Business analytics is the process of transforming data into action through analysis and insight in the context of organisational decision making and problem solving: the use of: Data, information technology, statistical analysis and mathematical or computer-based models. To help decision makers gain improved insight about their business operations and make better fact-based decisions (evans 13) There is a strong relationship of ba with: profitability of businesses, revenue of businesses, shareholder return. Ba is vital for businesses to remain competitive. Business ana applications: management of customer relationships, financial and marketing activities, supply chain management, human resource planning, pricing decisions, sport team game strategies. Scope of bus ana: ba begins with collection, org and manipulation of data and is supported by three major components. Descriptive analysis: uses data to understand past and present performance and make informed decisions, most commonly used and well understood types of analytics, uses fundamental tools and methods of data analysis and statistics, focusing on.
