...O C T O B E R 2 0 11 m c k i n s e y g l o b a l i n s t i t u t e Are you ready for the era of ‘big data’? Brad Brown, Michael Chui, and James Manyika Radical customization, constant experimentation, and novel business models will be new hallmarks of competition as companies capture and analyze huge volumes of data. Here’s what you should know. The top marketing executive at a sizable US retailer recently found herself perplexed by the sales reports she was getting. A major competitor was steadily gaining market share across a range of profitable segments. Despite a counterpunch that combined online promotions with merchandizing improvements, her company kept losing ground. When the executive convened a group of senior leaders to dig into the competitor’s practices, they found that the challenge ran deeper than they had imagined. The competitor had made massive investments in its ability to collect, integrate, and analyze data from each store and every sales unit and had used this ability to run myriad real-world experiments. At the same time, it had linked this information to suppliers’ databases, making it possible to adjust prices in real time, to reorder hot-selling items automatically, and to shift items from store to store easily. By constantly testing, bundling, synthesizing, and making information instantly available across the organization— from the store floor to the CFO’s office—the rival company had become a different, far nimbler type of business...
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...of my company, I am not familiar with the names or metrics used to evaluate important data, but I do know from experience and part of my job function, reports and data gathered are used to make judgments and decisions about new products and constant improvements for existing services we currently provide. Surveys are completed by our travel partners and guests, and even employees. We compile reports and present them to management electronically. Our research, experience, and use of different applications, along with our IT departments, helps management and executives determine which direction to move forward. Feedback from our travel partners and guests are both direct and indirect. Upon learning about programs such as Google Analytics, the importance of webpage layout, the amount of time spent on our site, as well, as how often individuals contact our chat system and sales automation for assistance with our product gives insight to “how we are doing” as a company. Constant looping and revisiting certain pages...
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...volume, which is the quantity of data. The second is Variety, which the type of Data. The third is velocity, which is the speed of the data is gathered. The fourth one Variability, which is inconsistency of data can hamper processes to manage it. The final one is Veracity, which is the quality of data captured can vary. These data sets are growing rapidly mainly because they are gathered at a fairly cheap. The world's technological per-capita are doubling every 40 months. Business intelligence with data with high information density to look for trends. Big Data also increased information management specialist. Some of the largest companies like IBM and Microsoft spent over 15 billion dollars on software firms which specialize in data analytics. Governments use big data because it's efficient in terms of productivity and innovation. While gathering big data is a big benefit there are also some issues that need to brought up. Some policies involving privacy, security, and liability. Companies would need to put the right people to manage and use this data efficiently. Accessibility is also crucial because most likely there will need to be third parties included and incentives put in place to enable...
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...Date: 04-19-2015 The New Frontier: Data Analytics (Course title: Info System Decision Making) Professor: Clifton Howell Student: Deep Ajabani Data analysis is the process of finding the right data to answer your question, understanding the processes underlying the data, discovering the important patterns in the data, and then communicating your results to have the biggest possible impact. Analytics have been used in business since the management exercises were put into place by Frederick Winslow Taylor in the late 19th century. Henry Ford measured the time of each component in his newly established assembly line. But analytics began to command more attention in the late 1960s when computers were used in decision support systems. Since then, analytics have changed and formed with the development of enterprise resource planning (ERP) systems, data warehouses, and a large number of other software tools and processes. In later years the business analytics have exploded with the introduction to computers. This change has brought analytics to a whole new level and has made the possibilities endless. As far as analytics has come in history, and what the current field of analytics is today many people would never think that analytics started in the early 1900s with Mr. Ford. We are going to have a look on Big Data Analytics. Let’s have a look on advantages of big data analytics. It helps marketing companies build models based on historical data to predict...
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...Definition IoT is one of the fastest growing technologies in computing. It is an environment where people, animals, or objects are presented with unique identifiers and the ability to transfer data over a network (Rouse, 2014). It has emerged from combining wireless technologies, micro-electromechanical systems, and the internet (Rouse, 2014). See Figure 1. These wireless technologies are equipped with, or connected to a smart device allowing data collection and communication through the internet (Caron, Bosua, Maynard, & Ahmad, 2016). Figure 1. IoT Ecosystem (Medici, 2015) Benefits * Tracking behavior for real-time marketing (Borne, 2014). * Enhanced situational awareness (Borne, 2014). * Sensor-driven decision analytics (Borne, 2014). * Process optimization (Borne, 2014). * Optimized resource consumption (Borne, 2014). * Instantaneous control and response in complex autonomous systems (Borne, 2014). * Increase operational efficiency, power new business models, and improve quality of life (Harrell, 2015). * Provide an accurate analysis of customer data (Medici, 2015). Some Applications of IoF Business intelligence (BI). “The BI application ensures the analysis and measurement of the consumer’s thoughts, behaviors, relationships, buying attitudes, choices, and many more parameters that form the backbone of effective strategy building, business operations management, customer relationship management, and other business operations” ...
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...companies in every industry are using analytics to replace intuition and guesswork in their decision-making. As a result, managers are collecting and analyzing enormous data sets to discover new patterns and insights and running controlled experiments to test hypotheses. This course prepares students to understand structured data and business analytics and become leaders in these areas in business organizations. This course teaches the scientific process of transforming data into insights for making better business decisions. It covers the methodologies, algorithms, issues, and challenges related to analyzing business data. It will illustrate the processes of analytics by allowing students to apply business analytics algorithms and methodologies to real-world business datasets from finance, marketing, and operations. The use of real-world examples and cases places business analytics techniques in context and teaches students how to avoid the common pitfalls, emphasizing the importance of applying proper business analytics techniques. In addition to cases, this course features hands-on experiences with data collection using Python programs and analytics software such as SAS Enterprise Guide. Throughout the semester, each team works to frame a variety of business issues as an analytics problem, analyze data provided by the company, and generate applicable business insights as a secondary objective, while also learning essential business analytics techniques. Students benefit...
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...Assignment Name: |Unit 2 Individual Project | | |Deliverable Length: |Research Paper + at least 15 PowerPoint slides | |Details: |You are the newly appointed President of the local Chamber of Commerce. You are making your first | | |presentation to the Chamber and want to make a good first impression. | | |Your presentation will be based on the following topic, purpose, and audience. | | |Topic: Expected U.S. GDP growth rate going forward | | |Audience: Local chamber of commerce | | |Purpose: To give business leaders an idea of what the economy may look like based on recent history | | |and expected future conditions | | |Part I | | |Write a 600-750 word research paper given the topic, purpose, and audience information above. In | | |addressing GDP, consider the following: ...
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...Riley Glasper Chronicle of a death foretold questions February 18, 14 1. Some of the views towards women in Chronicle of a Death Foretold show different understandings of the characters in their society. For instance, on (page 3) Santiago’s mother shows her attitude towards wealth and power of the wealthy people. To me it seems like she has clear understanding of the rules, but still fights for her place in her community. That she will not accept the virtues that are placed upon her, she stands up for her rights and views towards those who have money and power. She is very cynical about the occasion, which seems to be her only interest. On page 10, Victoria Guzman considers her affair with Ibrahim Nasar as an expression of his affection. As they were romantic which lead to Victoria getting a house servant position generated by his wealth and higher social standing. Also revealing the order of hierarchy between the natives and the whites. The women also seem to be standing up for their rights, like going against the treatment they are ordered to ensue. On page 16, “For the love of God,” Murmured Clotilde Armenta. “Leave him for later, if only out of respect for his grace the bishop.” “It was a breath of the Holy Spirit,” she often repeated. Indeed, it had been a providential happening, but of momentary value only. When they heard her, the Vicario twins reflected, and the one who had stood up sat down again. Both followed Santiago Nasar with their eyes as he began to cross...
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...Basics on Writing an Academic Paragraph What is a paragraph? A paragraph is a collection of related sentences dealing with a single topic. Learning to write good paragraphs will help you as a writer stay on track during your drafting and revision stages. Good paragraphing also greatly assists your readers in following a piece of writing. You can have fantastic ideas, but if those ideas aren't presented in an organized fashion, you will lose your readers (and fail to achieve your goals in writing). The Basic Rule: Keep one idea to one paragraph The basic rule of thumb with paragraphing is to keep one idea to one paragraph. If you begin to transition into a new idea, it belongs in a new paragraph. There are some simple ways to tell if you are on the same topic or a new one. You can have one idea and several bits of supporting evidence within a single paragraph. You can also have several points in a single paragraph as long as they relate to the overall topic of the paragraph. If the single points start to get long, then perhaps elaborating on each of them and placing them in their own paragraphs is the route to go. Elements of a paragraph To be as effective as possible, a paragraph should contain each of the following: Unity, Coherence, A Topic Sentence, and Adequate Development. As you will see, all of these traits overlap. Using and adapting them to your individual purposes will help you construct effective paragraphs. Unity The entire paragraph should concern itself with...
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...Contents 2. Preparing 2 2.1Your lecture 2 2.2When you 2 3. Writing 3 4. Strategy 4 5.Referencing guidelines 4 5.1 What is detailed 4 Figure 1 3 Figure 2 4 Figure 3 5 (Bazar, 2008) Assignment writing guidelines 1. Introduction 2. Preparing 3. Writing 4. Strategy 5. Referencing guidelines 1. Introduction 2. Preparing 2.1Your lecture notes will give you the basic framework ONLY of the ideas, theories and concepts you will need to complete the assignment. These notes will therefore NOT be sufficient on their own. You will need to make use of the required reading, extra references and any other material you come across in the course of researching your assignment. 2.2When you are taking notes for your assignment, try and `translate' what the author is saying into your own words. Don't just copy out huge chunks from other people’s work, otherwise they will probably end up in your assignment with very little of the wording changed (which is plagiarism). Also try to think about what is being said from your own point of view - do you agree or disagree with the points that the author is making? 2.3 Take down basic points from as many sources as you can manage and compare what the authors are saying as you are reading. There will be both similarities and differences in their views and it helps if you can begin to classify authors together. 2.4 Try and only take down relevant points - authors don't (unfortunately!) write...
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...include a paragraph describing the purpose of the paper. This will usually include a discussion of the research question. This is very effective when used as a first paragraph. You can use any of these headings: Purpose, Purpose of the Paper, Purpose Statement, or Statement of Purpose. 2. You should include a paragraph on the significance of your study/research/paper. What uses there are for the findings of your paper etc. You can use any one of these headings: Significance, Statement of Significance, Significance of the Paper. 3. You might also include a background paragraph. For some of you this might be a history or some type of chronological timeline. You can use any one of these headings: Background, Paper Background, Background of the Paper. 4. The body of your text should be an extensive discussion of your research and literature review findings and should include appropriate headings and/or sub-headings. 5. You should also include a discussion of your findings. You can use any one of these headings: Discussion, Findings, Discussion of Findings. 6. Some of you might also want to include section on limitations. You can use anyone of these headings: Limitations, Limitations of the Paper. 7. Your last section should be the reference section. Title of Paper Your Name Course/Number Date Instructor Name Title of Paper Begin your paper here. Double space the entire document. Be sure to indent the first line of each paragraph an half inch...
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...Assignment #1 Frequently Asked Questions Questions from this term From: Sent: Tuesday, January 26, 2010 11:28 AM To: Boyd, Colin Subject: Assignment #1 Hi, I was looking at assignment #1, in particular the SWOT analysis. Examples of it I found online were a combination of point form and paragraph. Is this alright if I formatted it like this? http://marketingteacher.com/SWOT/amazon_swot.htm Thanks in advance, Answer Hi : That web site seems more like paragraph form than point form. Point form should be avoided, if possible, because it is harder to read, and the writer usually has been a bit lazy. Being forced to write flowing paragraphs makes you think more about what you want to say. Colin ---------------------- Question From: Sent: Friday, January 22, 2010 3:16 PM To: colin.boyd@usask.ca Subject: COMM 101 assignment Professor Boyd, I am unclear about "an aspect of strategy" that is required for assignment #1 in COMM 101(02). Would you be able to clarify this in more detail so that my partner and I can success with this assignment. Thanks! Have a great weekend! Answer Hi : Strategic management is all about planning for the future. The article you choose should have some kind of example of your chosen firm having made (or thinking of making) a decision about its future. This could be stability, growth, or retrenchment. This could be changing positions regarding horizontal breadth of products, vertical integration, or geographical...
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...If known, the recipient's address should include the name of the person to whom the letter is directed. You should also include a title (Mr., Mrs., Ms., or Dr.) in front of the name. If you are including the country with the address, capitalize the country name. Salutation * The salutation should be the same as the name written with the recipient's address, followed by a colon. It is fine to only use the first name if you personally know the person and you typically refer to her by her first name. If you do not know the recipient's name, it is fine to use the salutation, "To Whom it May Concern." Body * The body of the letter should be formally written. Use single-spaced lines, except between paragraphs, where a double-spaced line should be inserted. The closing paragraph should summarize what was previously stated throughout the letter. Closing * To close the letter, insert a phrase such as "Thank you" or "Best regards," followed by a comma. Insert four lines between the closing and sender's name. This space will be used for your signature once the letter is printed. kinds 1. Acknowledgement Letter : This type of letter is written when you want to acknowledge some one for his help or support when you were...
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...Delete or replace unnecessary colons. (Refer to Colons from the Grammar and Writing Guides in the Tutorials & Guides section of the Center for Writing Excellence for more information.)] - then state quote – cleaner, more direct transition Winston Churchill was one of the most influential, successful, and determined men of the 20th Century. A man who “thought of the responsibility of the world, on his own shoulders” (The Churchill Centre and Museum At The Churchill War Rooms, London, 2004). His belief, as he stated for the entire world to hear at the beginning of the first World War was “The price of greatness is responsibility.”(Alyn [Citation error—Author mentioned in text: Smith (2007), otherwise use (Smith, 2007). Include a page or paragraph number with all direct quotations = (Smith, 2007, p. 32). Place the period at the end of a sentence after the citation. Please see the Reference and Citation Examples document located in the Tutorials & Guides section of the Center for Writing Excellence for more information.] ) I have to agree. Limit intro to os, thesis and pp Winston Churchill said, what every man and woman should understand, without personal responsibility, whether it is your education, your [Eliminate second person (you/your) in academic documents, and avoid addressing the reader directly.] career, or even your family, you will fail. In this essay, I will explain what personal responsibility means to me, how it will influence my educational success, and my...
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...Chapter 1: AWA Introduction | To download section click button or click on “File Save as..” in the upper left-corner of your browser | | The Analytical Writing Assessment (AWA) consists of two 30-minute sections, the Analysis of Issue essay and the Analysis of Argument essay. You will receive a grade from 1 to 6, which will be sent with your GRE scores.The good news is that the AWA can be beaten.The essay topics are available for you to review beforehand. The structures for the AWA answers are simple and may be learned. In addition, while much GRE preparation may appear "useless" and without any merit beyond test day, the skills, reasoning tools, and techniques you learn for the AWA may be applied to any essay or persuasive writing. These skills will help you throughout business school and beyond. 800score has graded thousands of essays from GRE candidates and we have an unparalleled knowledge of where students go wrong. Here are some tips before we get started: * Grammar and spelling is, by-and-large, less important than structure and content. Focus on structure and your argument formation. * Take plenty of timed practice tests on a computer. Our sample essays on the site are designed for you to take timed practice essays and be evaluated. * Do not procrastinate AWA preparation. Students tend to put off the AWA until it is too late and then they cannot adequately prepare. | Chapter 2 - Section 1: Analysis of Issue | The Analysis of Issue...
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