Explain how organizations use data management, knowledge management, and big data to make them more efficient and effective
In business, people are constantly making decisions. Show that you understand the decision-making process and the applications, technologies, and processes for gathering, storing, accessing, and analyzing data to help business users make better decisions.
In this assignment, you will discuss the importance of using historical data from a database, data warehouse, or data mart for making decisions for an organization. You will learn about the different types of data analytics and the different ways to present the data to make effective decisions. You will also practice using a spreadsheet as a tool for business analytics. You are to complete the assignment on your own, without assistance from others.
There are two parts to this assignment. You will complete lessons located within the WileyPlus Lab; then, you will write an essay discussing the information.
Part 1:
Consider the following scenario: Imagine you are a consultant for the Marketing managers at TED, known for TED Talk events and conferences. They feel that the data they have collected over the years could be analyzed to provide them with some insights about their products. They have come to you because of your expertise in data management, knowledge management, and business analytics to ask for your recommendations.
First, you need to complete the following data analytics lessons in WileyPlus using Excel© spreadsheets with formulas, to answer the questions presented. Use the information from the spreadsheets in your essay and provide the spreadsheets or formulas that were used.
Clearly indicate your answers to the questions in the lessons. Ensure that you clearly identify the formulas that were used in your calculations. Any spreadsheets must be submitted separately because if they are attached as appendices, they will not show to the instructor.
Part 2:
Separately, you will write at least a 3-page essay discussing your recommendations as to how you might assist the company based on the data from the spreadsheets you just completed. What is a data warehouse and the three types of analytics that you can provide? What tools could you use? What are the ways that this information might be presented to them to be the most effective?
Explain how organizations use data management, knowledge management, and big data to make them more efficient and effective. Demonstrate that you understand business analytics.
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