BANA 2082 Chapter Notes - Chapter 1: Sentiment Analysis, Prescriptive Analytics, Apple Watch
8 Nov 2020
School
Department
Course
Professor
Document Summary
We could do a much better job of planning and scheduling production if we knew how much the demand would be for our product. If we knew precisely how long it takes for each phase in a project to be completed, we could better estimate the cost and completion date of the project. If we knew how stocks would do, it would be a lot easier to invest. Another aspect that makes it difficult to make choices is that we face such a large number of options that we can not consider all of them. The simpler term, analytics, is used by certain companies and industries. Analytics is also considered a wider term than market analytics, which often involves the use of analytical approaches in science and engineering. We use company analytics and analytics in this text synonymously. Business analytics is the analytical method of converting knowledge into insight for better decision-making.
