As you have seen in your reading and lectures for this course, business analytics focuses on the analysis of business data through the use of statistics, optimization, modeling, and other quantitative techniques to help guide business decisions. In your DBA research classes, you have (or you will) become acquainted with a range of quantitative and qualitative research techniques that can be used to investigate business questions. Quantitative and qualitative methods each have unique strengths and weaknesses and that some questions are better answered through quantitative methods while others can only be addressed through a qualitative investigation. In many ways, business analytics represents an ultimate quantitative expression of management science. Moreover, as with research, one might expect that there are some business situations that business analytics can address especially well while other business situations are best addressed (or can only be addressed) through more qualitative and intuitive methods. Respond to the following: Provide an example of a business function, decision, or industry where business analytics should always be used and justify your answer. Are there any critical resource requirements needed to support business analytics in this situation? What if these requirements can't be met? Describe at least two alternative solutions that you could go to and what you would lose by not being able to implement business analytics. Provide an example of a business function, decision, or industry where business analytics should never be used. Again, defend your answer. Explain what would have to change in this situation to make business analytics appropriate

Understanding Business

12th Edition

ISBN:9781259929434

Author:William Nickels

Publisher:William Nickels

Chapter1: Taking Risks And Making Profits Within The Dynamic Business Environment

Section: Chapter Questions

Problem 1CE

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As you have seen in your reading and lectures for this course, business analytics focuses on the analysis of business data through the use of statistics, optimization, modeling, and other quantitative techniques to help guide business decisions.

In your DBA research classes, you have (or you will) become acquainted with a range of quantitative and qualitative research techniques that can be used to investigate business questions. Quantitative and qualitative methods each have unique strengths and weaknesses and that some questions are better answered through quantitative methods while others can only be addressed through a qualitative investigation.

In many ways, business analytics represents an ultimate quantitative expression of management science. Moreover, as with research, one might expect that there are some business situations that business analytics can address especially well while other business situations are best addressed (or can only be addressed) through more qualitative and intuitive methods.

Respond to the following:

Provide an example of a business function, decision, or industry where business analytics should always be used and justify your answer. Are there any critical resource requirements needed to support business analytics in this situation? What if these requirements can't be met?
Describe at least two alternative solutions that you could go to and what you would lose by not being able to implement business analytics.
Provide an example of a business function, decision, or industry where business analytics should never be used. Again, defend your answer. Explain what would have to change in this situation to make business analytics appropriate

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