How do you describe the importance of data in analytics?? Can one think of analytics without data? Explain. Where
Your analysis should take on a 3-paragraph format; Define, explain in detail, then present an actual example via research. Your paper must provide in-depth analysis of all the topics presented:
- How do you describe the importance of data in analytics?
- Can one think of analytics without data? Explain.
- Where does the data for business analytics come from?
- What are the sources and the nature of that incoming data?
- What are the most common metrics that make for analytics-ready data?
- Why is the original/raw data not readily usable by analytics tasks?
- How do you visualize the data?
Data Analytics
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Data Analytics
Ardito, L., Scuotto, V., Del Giudice, M., & Petruzzelli, A. M. (2019). A bibliometric analysis of research on Big Data analytics for business and management. Management Decision. https://www.emerald.com/insight/content/doi/10.1108/MD-07-2018-0754/full/html
This article discusses the theoretical development of big data analytics, as well as the function it plays in business, notably supply chain management. The article's descriptions indicate that big data has the potential to transform management and administration. According to the article, machine data is the major source of big data, and data is generated internally, externally, and organizationally. This article will assist me in the future in learning more about big data analytics.
Wamba, S. F. (2017). Big data analytics and business process innovation. Business Process Management Journal. https://www.emerald.com/insight/content/doi/10.1108/BPMJ-02-2017-0046/full/html
Wamba (2017) defines big data as a complete process for managing, processing, and evaluating data in terms of volume, variety, velocity, validity, and value. According to this concept, it's impossible to describe analytics without including data. A point made by the author on the importance of big data is that it aids in product innovation. Reliability is a critical factor to consider while developing data that is suitable for analytics. Given the significance of big data in the business sector, I may utilize many of the article's primary subjects to further my knowledge on the issue.
Huang, S. C., McIntosh, S., Sobolevsky, S., & Hung, P. C. (2017). Big data analytics and business intelligence in industry. Information Systems Frontiers, 19(6), 1229-1232. https://link.springer.com/article/10.1007/s10796-017-9804-9
This article examines the several functions that big data analytics plays in the business sector. According to the article, big data is defined as a large amount of structured or unstructured data that is analyzed in order to make intelligent decisions, which is why it's impossible to discuss analytics without addressing data. Data sources include browsing history, geolocation, social media, purchase history, and medical information. This article has valuable information that I may use to finish my task.
Pappas, I. O., Mikalef, P., Giannakos, M. N., Krogstie, J., & Lekakos, G. (2018). Big data and business analytics ecosystems: paving the way towards digital transformation and sustainable societies. Information Systems and e-Business Management, 16(3), 479-491. https://link.springer.com/article/10.1007/s10257-018-0377-z
This article will look at big data and its use in business analytics. The study asserts that big data has facilitated digital transformation and the development of sustainable societies. According to the article, data comes from people's decisions, actions, and presence in the digital world. Data analytics is a relatively new field of study, and applying the concepts discussed in this article to my job may be advantageous.
Ajah, I. A., & Nweke, H. F. (2019). Big data and business analytics: Trends, platforms, success factors and applications. Big Data and Cognitive Computing, 3(2), 32. https://www.mdpi.com/477224
This research examines the present state of data in the business world, its opportunities, and dangers. This article will discuss big data and business analytics, and some of the significant areas where data analytics has made a difference include healthcare, network optimization, and trip estimation. According to Aiah and Nweke, data must be cleansed and aligned before it can be used in analytics operations (2019). This is performed via the use of data processing. I may use the material provided by the authors of this article into my research in order to have a better understanding of the role of data in analytics.
Chiang, R. H., Grover, V., Liang, T. P., & Zhang, D. (2018). Strategic value of big data and business analytics. Journal of Management Information Systems, 35(2), 383-387. https://www.tandfonline.com/doi/abs/10.1080/07421222.2018.1451950
According to this article, data is a crucial component of any organization, which is why businesses are exploring the new possibility of leveraging big data to uncover hidden information, enhance decision-making, and aid in strategic planning. Since the article points out, it's difficult to imagine analytics without data, as data provides the raw material for analysis. This source may be added to my library of literature evaluations, and the information contained inside may be utilized to substantiate allegations.
Mikalef, P., Pappas, I., Krogstie, J., & Pavlou, P. A. (Eds.). (2020). Big data and business analytics: A research agenda for realizing business value. Norway: Elsevier. https://www.researchgate.net/profile/Patrick-Mikalef/publication/337543997_Big_data_and_business_analytics_A_research_agenda_for_realizing_business_value/links/5fd33aaf299bf188d40b431f/Big-data-and-business-analytics-A-research-agenda-for-realizing-business-value.pdf
The following article makes statements about how firms are employing big data analytics to gain a competitive edge. The report's primary takeaways include that big data and business analytics may result in more informed understanding, which can result in better decisions and, as a result, greater performance advantages. According to the text, two sources of incoming data are environmental dynamics and machine data. The findings of this report will assist me in composing my project.
Burger, M., Dreßler, K., & Speckert, M. (2021). Load assumption process for durability design using new data sources and data analytics. International Journal of Fatigue, 145, 106116. https://www.sciencedirect.com/science/article/pii/S0142112320306484
According to the article descriptions, some data sources for analytics include durability evaluation programs, field monitoring, and geographic data. The article continues by stating that when combined with modern data analytics and simulation methodologies, it is possible to determine customer and usage-related durability loads and objectives. Such data is necessary for my research on data analytics and its use in business.
References
Ardito, L., Scuotto, V., Del Giudice, M., & Petruzzelli, A. M. (2019). A bibliometric analysis of research on Big Data analytics for business and management. Management Decision. https://www.emerald.com/insight/content/doi/10.1108/MD-07-2018-0754/full/html
Ajah, I. A., & Nweke, H. F. (2019). Big data and business analytics: Trends, platforms, success factors and applications. Big Data and Cognitive Computing, 3(2), 32. https://www.mdpi.com/477224
Burger, M., Dreßler, K., & Speckert, M. (2021). Load assumption process for durability design using new data sources and data analytics. International Journal of Fatigue, 145, 106116. https://www.sciencedirect.com/science/article/pii/S0142112320306484
Chiang, R. H., Grover, V., Liang, T. P., & Zhang, D. (2018). Strategic value of big data and business analytics. Journal of Management Information Systems, 35(2), 383-387. https://www.tandfonline.com/doi/abs/10.1080/07421222.2018.1451950
Huang, S. C., McIntosh, S., Sobolevsky, S., & Hung, P. C. (2017). Big data analytics and business intelligence in industry. Information Systems Frontiers, 19(6), 1229-1232. https://link.springer.com/article/10.1007/s10796-017-9804-9
Mikalef, P., Pappas, I., Krogstie, J., & Pavlou, P. A. (Eds.). (2020). Big data and business analytics: A research agenda for realizing business value. Norway: Elsevier. https://www.researchgate.net/profile/Patrick-Mikalef/publication/337543997_Big_data_and_business_analytics_A_research_agenda_for_realizing_business_value/links/5fd33aaf299bf188d40b431f/Big-data-and-business-analytics-A-research-agenda-for-realizing-business-value.pdf
Pappas, I. O., Mikalef, P., Giannakos, M. N., Krogstie, J., & Lekakos, G. (2018). Big data and business analytics ecosystems: paving the way towards digital transformation and sustainable societies. Information Systems and e-Business Management, 16(3), 479-491. https://link.springer.com/article/10.1007/s10257-018-0377-z
Wamba, S. F. (2017). Big data analytics and business process innovation. Business Process Management Journal. https://www.emerald.com/insight/content/doi/10.1108/BPMJ-02-2017-0046/full/html
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