A process in which analysts use information technology tools to collect and analyze data, in order to find useful information to support the manager’s decision making.
A process in which analysts use information technology tools to collect and analyze data, in order to find useful information to support the manager’s decision making.
Traditional Decision vs. Data Driven Decision
Traditional decision making starts from a manager’s wishful thinking, personal experience, and knowledge. Very narrowed perspective.
Data driven decision making starts from data analyses. Using data to precisely capture the critical factors.
Analytics is not only limited to business management, but can also be used in a variety of places such as sport management, marketing research, supply chain management, etc.
Business analytics can help a manager to optimize the performance of his company.