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  1. 1 Running head: BUSINESS ANALYTICS IMPLEMENTATION PLAN Business Analytics Implementation Plan 2 Business Analytics Implementation Plan Table of Contents · Cover page 1 · Table of contents
  2. 2 · Introduction 3 · The business and summery of business analytics 3 · Benefits and disadvantages of business analytics 4 · Organization proactive in addressing any disadvantages 5 · Challenges that the organization may face using business analytics 5 · Business analytic techniques 6 · Implementation plan 8 · Back up proposal
  3. 12 · Conclusion 13 · References 15 BUSINESS ANALYTICS Introduction Business analytics involves studying of data by means of operations and statistical analysis, formation of models which are predictive, optimization techniques application, and communicating the outcome to clients, associate executives and business associates. Companies which are committed in decision making which is data driven can use business analytics (Alvin, 2008). The company can use business analytics in order for it to gain a clear insight which inform decisions in business. The business analytics can also be applied in business processes’ automating and optimization. Business analytics can be viewed as an intersection between business and technology (Jeanne, 2005). The business and summery of business analytics that could be applied to the business in multiple scenarios The firm deals with a wide range of graphics design, which involves creation of items to be used in visual communication and also use of image, type, and space, for problem solving. The business has a lot of clients, and uses technology for daily operations but do not perform data analysis which helps in business decision making. Business analytics will be of great help because it can help the firm to integrate their data and consequently make informed business decisions. The databases which are all independent of each other can be linked as well as the other systems which are not connected.
  4. Since the firm is dealing with graphics design and has a wide variety of clients for different designs, it can apply business analytics in order for it to be able to focus on methods of quantitative and the task of data which is evidence based, in the firm’s business decision making and modeling. This can be used by the executives or professionals in the firm in order to improve and take the company to a higher level in decision making through methods of quantitative, realizing and exploring relationship in economy of the firm by means of data analysis. The firm can apply decisive analytics, which give support to human decisions with analytics which are visual, user models for reflecting reasoning. The firm can also apply descriptive analytics in order to get insight from past data with scorecards, reporting, clustering and others. Also, predictive analytics can be applied. This involves predictive modeling which uses statistical and techniques in machine learning. Prescriptive analytics can also be applied by the firm through recommendation of decisions by use of simulation, optimization and others. Through the use of these business analytics, the firm, for example will be able to clearly determine and make well informed decision on whether adding another location in another part of the state would be of benefit. Benefits and disadvantages of business analytics Applying business analytics in an organization has benefits, as well as disadvantages that the organization can face. The benefits of business analytics include: 1. The process of decision making in the organization is improved. The organization can as a result be able to make decisions which are quality and relevant. 2. Apart from improving the process of decision making, business analytics also enables the process of decision making
  5. to be faster. This is a great benefit to the organization since it avoids delay in making important decisions in the organization that could slow down some operations or activities that depend on the outcome of the decision. 3. The organization can be able to respond to the needs of the user for data availability on time. This facilitates efficiency especially on service delivery which enables the organization to be very efficient. The disadvantages of business analytics include; 1. Business analytics can be time consuming. This is because; a lot of time can be taken in the collection of data. Also, data interpretation can take a substantial amount of time. 2. Tools for data analysis might be expensive, and this can be a limitation to the organization, but it depends on the organizations’ financial capabilities. 3. Price fixing for the reason that reliable and accurate information quality may be a disadvantage to consumers. How the organization can be proactive in addressing any disadvantages The organization can apply different methodology in dealing with issues so that, when there is a disadvantage, there already is another option or solution which is established. For example, the organization should come up with a clear guideline on what to do when faced with disadvantage by discussing the issues. Challenges that the organization may face using business analytics In the course of using the business analytics, the organization
  6. may face some challenges. They include; 1. Challenge in the strategic alignment; although many of the organizations have placed some form of business analytics, there may lack alignment, trust, and availability by the top executives. The company may be proactive in addressing the challenge by reviewing the goals of the business which supports the major company strategies, and each main process of business which underpins the objective, and try to analyze. 2. There may be difficulty in communicating the results to business users, since analysts usually work independently. The organization can try and liberate on its analytical capabilities by focusing on analytics as a skill. 3. Analytics software can be costly although not difficult to implement. The users may lose interest by not seeing the results immediately and may lead to executives losing trust ii the offered solution, and refusal to rely on the results of the models. The organization should take responsibility in establishing analytic environment which is productive. Business analytic techniques The three business analytic techniques that I propose to the firm are; One, data mining; this creates models byrevealing trends which are unknown and the patterns in large data amounts. For instance, insurance claims fraud detection, analysis of retail market basket. Data mining can be achieved through a number of statistical techniques which include; sequencing and association models, regression, clustering, and classification. One advantage of data mining is that it helps companies involved in marketing to create models that are based on past data in order to predict response to new market promotions. The
  7. second advantage is that it provides financial institutions with information about credit and loan reporting. The disadvantages of data mining are one; private issues where businesses collect information about customers making them afraid of how the information will be used. Two, security issues arise because of owning of information by businesses concerning their customers and employees which include payroll, birthday, social security and others. Two, text mining analytic technique involves discovering and extracting patterns which are meaningful and also relationships from collections of text. For example; understanding of customers’ sentiments on social media sites may be used to make improvement to customer service or product or it can also be used to comprehend how competitors are performing. Text mining has some advantages which include one, assisting greatly in summarizing documents and two, it helps significantly in extraction of ideas from text. This technique also has some disadvantages which include; one, collection of data needs managing of vast amount of text which is free. Two, mostly the data is not properly organized, and also not explained in any form. Three, optimization technique; which involves application of simulation techniques in order to identify situations that will give out the best results. For instance optimization of sale price, discovering optimal inventory so as to achieve highest fulfillment and avoiding stock outs. This technique has some advantages which include one; profitable growth that is intelligent which gives organizations increased opportunities in developing customers, new market identification, relationship improvement, and developing new services and products. Two; it enables risk management that is proactive hence making the organization less vulnerable and have high certainty in results because of the improved ability in predicting and identifying risk events plus the ability to get ready in response to the risks. The disadvantages of this technique include; one; it is difficult to apply this technique in complex problems and two; it may also be time consuming to apply this techniques in complex
  8. situations. IMPLEMENTATION PLAN The implementation plan contains activities listing that is detailed, difficulties expected, schedules, and costs that are needed in order to achieve objectives of plans that are strategic. This implementation plan aims to integrate business analytics into the organization. Since analytics gives a lot of expected benefits which includes increment of sales, and a deep focus on the preferences of the customer, it must be properly integrated into the organization. This process can be challenging and a proper layout of how it will be carried must be established. The business implementation will focus on where to start, identification of prioritization of projects, the structure of the organization in order to achieve success, the main innovations in technology that should be included. This will involve a creation of plan that will enable the organization to spend required time in creating a roadmap and strategy that is simple on how data, algorithms, mathematics, people and tools integrate in order to achieve business value. I propose this plan to the management of the organization in order to integrate business analytics in the business to enhance performance. The plan for integration is in six steps which indicate how every activity will carried out and what needs to be done. As the analytic process strategy moves on, some of the steps will be revisited a number of times. The steps are important as they outline main aspects to be considered in taking the organization to decision making which is data driven. The steps are; 1. Comprehend the strategy of business in the organization and focal areas that are strategic. The analytic strategy must be entrenched in the organization’s business strategy. Most of the times the analytics initiatives fail in supporting the companies top strategic crucial areas. This leads to the analytics not being
  9. given priority. Due to this reason, the process should be started by spending substantial amount of time with head strategy officer, or if possible the chief executive officer including the management team. This is important because it will make it possible to comprehend one; the goals or objectives that the organization wants to realize in coming years for example one to three years. Two, will be able to understand the central processes of value chain that the plan is targeting to change. Three, it will be easier to comprehend what main program changes will take place. The business strategy must be broken to pieces which are manageable, which will enable focusing on strategy of analytics on areas that are most important for the success of the business. 2. Analytics vision development and setting target for levels of analytics maturity for the main processes. This will involvechanging of a single or multiple main processes of the organization. Maturity models will be used to emphasize how analytics add value to the processes. This will enable the organization to get it processes and methods assessed depending on the best practice of the management, against external benchmarks that are clearly set. Maturity model will focus on the company’s main processes at reasonably high level. This will happen through two discussions that will be separate. The first one will be to establish the current maturity level of the organization by analyzing the extent that the organization is utilizing analytics in the current process and if the analytics are being used in a manner which is consistent. The second discussion will be to establish the maturity level target of the organization, the ambition for analytics and data utilization in the process. The discussion will also establish if the organization should aim analytics which are real time and automated, where analytical models which are advanced are embedded into processes of customer facing and business decisions, or should the organization aim at maturity which is lower where it is the task of each person involved in decision
  10. making to utilize analytical models which are own grown. The first discussions will assist in driving a consensus and understanding which is common between the organizations’ managers and me, as the business analyst. The second discussion will include the same individuals and will take into consideration issues such as best practices in market, guidelines to strategy, current level of maturity and also establish what the organization’s peers in the industry, and also the competitors are engaging in. 3. The third step involves developing of business ideas for the analytics. This involves creativity in the process of strategy. This involves forming set of initiatives which are concrete. This will help in reaching the strategic ambition that is levels of analytic maturity target. The initiative that are developed or possibly the project charters must establish the following; one, the business challenge that is being addressed by the initiative. Two, the main elements of the solution that is proposed and three, associated risks and business case. The development of the organization’s business case will put special consideration in the following; one, the data required. The organization’s data will be integrated and assembled. Valuable data may be stored in system of IT that is majorly used in different areas for example pricing, customer service, and chains of supply. If matters are complicated, valuable information is usually stored in companies that are outside, in forms which are unstructured for example conversations in social networks. Two, the analytical models that are required must be identified. This is because; integration of data alone will not produce value. Analytic models which are advanced are required in order to facilitate optimization which is data driven for the organization, for instance; schedules of employees, or predictions. This plan will identify where additional value in business will be created by the models, and establish who is required to put them to use. Three, the plan establishes how the work process will be
  11. integrated with the analytics. The modeling output may be very valuable, but this can only be so if the managers of the organization and mostly the employees who are on the front line can access, comprehend, and be able to use it. Output which is very complex can be devastating and can even be mistrusted. Mostly, what is required are instinctive tools that are used for integration of data in daily processes and which are used in translating outputs of models to actions. The organization has a huge number of probable initiatives. If they will all be implemented, the organization’s process will go directly to the maturity level target. The organization may not have resources to allow implementing all this initiatives at once. Due to this, there must be prioritization of project and development of the roadmap. 4. The forth step is developing the roadmap and prioritizing project. Critical decisions must be highlighted, and the organization should create and define the initiatives the must be prioritized. The initiatives that best support the goals of the organization are selected from the many which will be identified in step three above. In order to successfully grapple with the planning of tradeoffs, it needs a strategic dialogue which is cross cutting, at the higher level of the organization, in order to be able to establish priorities in investment. This will make it possible to balance cost, acceptance, speed and also creating circumstances for engagement in front line. The result of this step is to establish a roadmap that highlights the initiatives to be undertaken, in what order and the individuals who are responsible for making them happen. 5. The fifth step is creating a blueprint of the target architecture that results. Technology by itself is near irrelevant to business user but the ability to quickly and instinctively analyzed vast data amount is what the users care about the most. However, creating analytical architecture that is robust is the main thing for business outcomes realization that has been put forth in the
  12. roadmap. The required data changes must be assessed for the initiatives, tools and applications, and architecture which is technical. A transition plan that corresponds must be laid down. To solve issues in IT relating to storage and other data issues may take long, hence identifying and connecting the most valuable data quickly for analytics use and performing operation in clean up in order to merge and synchronize data which is overlapping and working around information which is missing is not a good way of getting started. 6. This is the final step which involves deciding on organization and development capability. The organization should have people with capabilities in on order to be able to implement this plan do avoid failure or disappointment. The people charged with this task must have implementation skills. I propose to the organization to assist in the planning of organizing and assembling pool of talent in order to implement architecture target and execute roadmap. The organization can raise data scientists, frontline staff, analytic modelers, who will be good in the forth coming days of decision making which is data driven. The organization can do so through training. After planning, data integration, starting pilot programs, creation of new tools and efforts in training happens in a context which is clear for enhancing business values in the organization. BACKUP PROPOSAL 1. People who work and live with the system which is new should perform the implementation. This is because; they contain a vested interest which is strong to make sure that implementation goes right. 2. Will conduct the organization’s survey for every site, meet the top executives, try to get their support and fully comprehend working practices that are local. This will assist in making sure that the process which is new is fitting seamlessly with processes that that exist and to make sure bad surprises are
  13. early discovered. 3. Event for implementation must be presented by chairperson to display support from top of organization’s management. 4. Training which is comprehensive in different sessions for all users. 5. Reflect on special procedures in order to track progress in implementation. In conclusion, decision making in an organization may be efficient and informed through use of business analytics. The business analytics have different techniques which can be applied in business in different situations, and each has its own advantages and disadvantages. The business should establish which business analytics to apply in their daily business operations, and come up with a clear implementation plan on how to integrate the business analytics to the organization. References Alvin, L. (2008). Data to Knowledge to Results: Building an Analytic Capability. California Management Review. Thomas, H. (2006). Competing on Analytics. Harvard Business Review. Jeanne, G. (2005). Automated Decision Making Comes of Age. MIT Sloan Management Review. LASA 2—Business Analytics Implementation Plan Part 2 Assignment Components
  14. Unsatisfactory Emerging Proficient Exemplary Revise the proposal based upon feedback from instructor. Few, if any corrections/updates are addressed into the existing proposal. Most corrections/updates are addressed into the existing proposal. All corrections/updates are addressed into the existing proposal. All corrections/updates are addressed into the existing proposal, and expanded upon. Explain the importance of MIS in relation to data-driven decisions. Explanation and definition of MIS are inaccurate or incomplete. There is no attempt to identify the relationship between MIS to data-driven decision making. Explanation and definition of MIS are accurate, but may be vague. The relationship between MIS to data-driven decision making is attempted, but may be vague. Explanation and definition of MIS are accurate. A clear, concise relationship of the importance of MIS to data-driven decision making is provided. Explanation and definition of MIS are accurate. A clear, concise
  15. relationship of the importance of MIS to data-driven decision making is provided. Supporting diagrams and examples are provided for relationship. Describe the techniques and tools that can be utilized to manage the data. Discussion of at least 1 appropriate technique and 1 appropriate tool is attempted in relation to how they could assist in managing the data for the organization. At least 1 appropriate technique and 2 appropriate tools are discussed in relation to how they could assist in managing the data for the organization. At least 2 effective techniques and 3 effective tools are discussed in relation to how they could assist in managing the data for the organization. At least 2 effective techniques and 3 effective tools are discussed in relation to how they could assist in managing the data for the organization. Justification for choosing the specific techniques and tools is given. Explain how the techniques and tools can be utilized to present the data to management. Explanation does not demonstrate how the techniques or tools could be utilized to present the data to management. Explanation demonstrates how the techniques or tools could be utilized to present the data to management. Explanation clearly demonstrates at least 3 examples of how the techniques and tools could be utilized to present the data to management. Explanation clearly demonstrates at least 3 examples of how the techniques and tools could be utilized to present the data to management. The examples are innovative and follow current best practices for managing data. Explain how data can add value to the organization at all levels.
  16. Explanation does not specifically state how data can add value to the organization. Explanation demonstrates how data can add value to the overall organization. Explanation demonstrates how data can add value to the organization not only for day-to-day operations, but also how it can assist the organization with their strategic planning. Explanation demonstrates how data can add value to the organization not only for day-to-day operations, but also how it can assist the organization with their strategic planning. Examples are provided to further demonstrate how value was added to an existing organization. Writing Components Organization: Introduction, Thesis, Transitions, Conclusion Introduction is limited or missing entirely. The paper lacks a thesis statement. Transitions are infrequent, illogical, or missing entirely. Conclusion is limited or missing entirely. Introduction is present but incomplete or underdeveloped. The paper is loosely organized around a thesis that may have to be inferred. Transitions are sporadic. Conclusion is present, but incomplete or underdeveloped. Introduction has a clear opening, provides background information, and states the topic. The paper is organized around an arguable, clearly stated thesis statement. Transitions are appropriate and help the flow of ideas. Conclusion summarizes
  17. main argument and has a clear ending. Introduction catches the reader’s attention, provides compelling and appropriate background information, and clearly states the topic. The paper is well organized around an arguable, focused thesis. Thoughtful transitions clearly show how ideas relate. Conclusion leaves the reader with a sense of closure and provides concluding insights. Usage and Mechanics: Grammar, Spelling, Sentence structure Writing contains numerous errors in spelling, grammar, and/or sentence structure that severely interferes with readability and comprehension. Errors in spelling and grammar exist that somewhat interfere with readability and/or comprehension. Writing follows conventions of spelling and grammar throughout. Errors are infrequent and do not interfere with readability or comprehension. The paper is basically error free in terms of mechanics. Grammar and mechanics help establish a clear idea and aid the reader in following the writer’s logic. APA Elements: Attribution: Paraphrasing: Quotations No attempt at APA format. Insufficient sources cited. APA format is attempted to paraphrase, quote, and cite, but errors are significant. Minimum sources cited. Using APA format, accurately paraphrased, quoted, and cited in many spots throughout when appropriate or called for. Errors present are minor. Sufficient sources cited. Using APA format, accurately paraphrased, quoted, and cited throughout the presentation when appropriate or called for. Only a few minor errors present. Sources cited are more than sufficient.
  18. Page 1 of 2 Data Driven Decision-Making ©2014 Argosy University Page 3 of 3 Data Driven Decision-Making ©2014 Argosy University Business Analytics Implementation Plan Part 2 You began writing your business analytics implementation plan in Module 3_Business Analytics Implementation Plan Part 1 (Assignment Attached). In addition, you already have gained information about the various technological solutions discussed in the previous modules. In this assignment, you will now address ways to implement the plan along with any associated costs, as this will complete the proposal for management to make their decision. Description of LASA In this assignment, you will amend your existing business analytics implementation plan developed in Module 3. You will amend the existing proposal to discuss the importance of managing information systems, describe the techniques and tools used to manage the data, and explain how utilizing technology can help the organization. Scenario You have been hired as a business analyst for a well-known design firm. Currently, they utilize technology for their day-to- day operations but not to analyze data that could help with making business decisions. Your task is to convince management that the usage of business analytics would be a great benefit to the business and it would help the business to make well-informed decisions and thus action plans that would align with the business’s strategic planning. The firm currently has technology in place but does not have
  19. any connected systems. The databases are all independent of each other but they do utilize a client/server environment. The firm currently has one location but is looking to add a second location in another part of the state but is unsure about whether it would be beneficial to the firm. **The firm liked your implementation plan but have questions about how they will manage the data and how data driven decision making can help the organization versus just being an additional expense for the organization (cost of new equipment or resources). Instructions Using the online library resources and the Internet, research business analytics implementation plans, especially methods of developing a rationale in support of implementation. Select at least 6 scholarly sources for use in this assignment. Amend your existing proposal addressing the importance of Management Information Systems and managing the data for the organization. Objectives of proposals: 1. Revise the previous proposal based upon the comments from your instructor. 2. Explain the importance of MIS in relation to data-driven decisions. 3. Describe the techniques and tools that can be utilized to manage the data. Include at least 2 effective techniques and 3 effective tools. 4. Explain how the techniques and tools can be utilized to present data to management and other organizational decision makers. Be sure to include at least 3 innovative examples that follow current best practices for managing data. 5. Explain to management how the data can add value to the business in day-to-day operations as well as long-term strategic planning. Use examples to further demonstrate how value is added to an existing organization. Write the paper from the perspective that it will be presented to the firm’s management team as you are trying to persuade them
  20. to utilize business analytics for data-driven decision making. The paper should contain: · Cover Page (update date) · Table of Contents (auto-generated by Microsoft Word and updated) · Introduction · Implementation Plan (5–6 pages of content revised as per instructor feedback) · Management Information Systems Section: (5–6 pages of new content) · Importance of MIS · Techniques and Tools Utilized Along with examples · Added Value to Organization · Conclusion · References Utilize at least 6 scholarly sources in support of your recommendations. Make sure you write in a clear, concise, and organized manner; demonstrate ethical scholarship in appropriate and accurate representation and attribution of sources; display accurate spelling, grammar, and punctuation. Submit a 10-page report in Word format. Apply APA standards to citation of sources. Use the following file naming convention: LastnameFirstInitial_M5_A1.doc. Grading Criteria and Rubric Assignment Components Proficient Max Points Revise the proposal based upon feedback from instructor. All corrections or updates are addressed in the existing proposal. 24 Explain the importance of MIS in relation to data-driven decisions. Explanation and definition of Management Information Systems are accurate. A clear, concise relationship of the
  21. importance of MIS to data-driven decision making is provided. 76 Describe the techniques and tools that can be utilized to manage the data. At least 2 effective techniques and 3 effective tools are discussed in relation to how they could assist in managing the data for the organization. 52 Explain how the techniques and tools can be utilized to present the data to management. Explanation clearly demonstrates at least 3 examples of how the techniques and tools could be utilized to present the data to management. 36 Explain how data can add value to the organization at all levels. Explanation demonstrates how data can add value to the organization not only for day-to-day operations, but also how it can assist the organization with their long-term strategic planning. 48 Presentation Components Organization (16) Usage and Mechanics (16) APA Elements (24) Style (8) Wrote in a clear, concise, and organized manner; demonstrated ethical scholarship in appropriate and accurate representation and attribution of sources; and displayed accurate spelling, grammar, and punctuation. APA format was used. Use of scholarly sources aligns with specified assignment requirements. 64 Total
  22. 300
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