In your replies to fellow classmates, look for similarities to your organization.
In your replies to fellow classmates, look for similarities to your organization. If you have experienced similar issues, comment on how your organization handled the situation. If you do not want to comment on your organization (due to confidentiality issues or if your experience does not fit the topic), then comment on another organization that you are familiar with. You may also do research on a company and base your answers on your findings.
Jacey’s post:
Jacey Perryman
GB513
Unit 1 Discussion
09/23/2023
Question 1: Analytics or Intuition
Category 1: Strategy & Business Development – Analytical
When it comes to Strategy and Business Development at Tyson, analytics is heavily used to make strategic business decisions. Our corporate strategy team utilizes analytics to interpret market data, pricing data, financial data, and annual & quarterly reports. They use this analysis to outline risks and opportunities, forecast trends in the protein, agriculture, and food industries, as well as present and implement clear solutions.
Category #2: Customer Service – Analytical
Customer Service is also measured analytically as there are multiple surveys that are sent out each year. For the employees, a yearly survey is sent out to help determine employee engagement, employee retention, and overall employee satisfaction. We have also recently implemented a ticketing system for internal team members and candidates who are seeking Tyson’s employment opportunities. These tickets allow them to reach out to any human resource department with questions, comments, or concerns. After their ticket has been resolved, they conduct a customer service survey. Tyson tracks and analyzes the results from those surveys and makes business decisions throughout the year to help improve customer service ratings.
Category #3: Financial Management & Budgeting – Analytical
The finance and budgeting teams within Tyson use analytics and analytical software to help identify cost-saving opportunities, forecast accurately, predict customer behavior and more. Most teams are highly skilled in Microsoft Power BI, Tableau, SQL, and/or Excel to interpret data, create reports based on the data, and communicate their findings to the business. The business has always used business intelligence, but it has recently invested in artificial intelligence to leverage the data across the business to improve business processes, grow the business, and make better-informed business decisions.
Question 2: Obstacle to Analytics
Obstacle 1: Ability to Get Data
The business uses multiple data extraction and visualization tools across each department. Because of this, there are possibilities for delays in reports or confusion about the data since every team member is not well-versed in every data visualization and extraction tool. My recommendation would be to implement more training for team members for each tool to ensure there is an understanding across the business.
Obstacle 2: Lack of Skills Internally Within the Business
Due to recent business decisions, some of the business functions have been understaffed which is a cause of concern for multiple business units. Understaffed business units can face multiple issues such as being overworked, lowered quality of work, and simply not having enough employees to really interpret the data and make sound business decisions. My recommendation to the business would be to work directly with the recruiting teams to help ensure that we are hiring candidates with advanced skill sets who can come in and make a difference to the teams.
Obstacle 3: Concerns with Data
It has been reported that Tyson has struggled with predicting sales in the past which may have reflected concerns with the data. With specific business units being understaffed, there is a concern about the time to look over the data and make strategic business decisions based on the data. With the recent investments in technology, the business is making strides to accurately collect and perceive the data to be able to improve the business. My recommendation would be to continue hiring for the teams that are in need and offer skills training to internal employees to ensure they are keeping up to date with the latest trends.
References
Marks, N., & Kewalramani, S. (2022, February 22). Ingestion as a Service: How Tyson Foods reimagined their Data Platform. Google Cloud. Retrieved September 23, 2023, from https://cloud.google.com/blog/topics/consumer-pack…
Polansek, T., & Vanaik, G. (2023, August 7). Tyson Foods shares tumble on slowing demand, plant closures. Reuters.
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