Business Analytics Strategy Data Driven Decisions Essay

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Big Data


Big data analytics is very important to sales and retailers, which I can attest to from personal experience. Sales reps of consumer goods brokerages will use analytics when they pitch their ideas to retailers like Kroger’s for the good reason that analytics works: it helps them to see how customers interact with displays, product arrangements and organization, lighting, spacing, and more. As LaValle et al. (2011) point out, selling is really as much a matter of logistics as it is about bringing a quality product to market. Marketing, customer service, customer engagement, and experience management all play a part in retailer’s ability to obtain competitive advantage. Sales representatives know this and since they work on commission (obtaining a percentage of every sale that comes about once they get a retailer to accept a product to their shelves) they pay close attention to analytics.
However, as LaValle et al. (2011) also note, a typical organization usually “has more data than it can use effectively” (p. 22). Therefore, simply having the data is not enough. One has to know how to interpret it and use it to one’s advantage.

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The key to using analytics well is to link it to business strategy and make it easy…

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…information because it plays a complementary role. The goal is to reduce the time it takes to get to value, increase the chances the organization has of making important transformations, and focus attention on pursuing steps that are actually achievable.
It is about leveraging information instead of being overwhelmed by it. Rather than burying oneself under a pile of data that are irrelevant to one’s specific questions or challenges, one can think of big data is a salt dump: when the roads become icy, the salt is there to ice them and make them safe again. One doesn’t unnecessarily dump the salt on the roads when it is not….....

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