Week 5: Response to Classmates 09/12/2016
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week_5_discussion_1_09-12_1.pdf
Week 5 Discussion 1 Cheryl Bartlett
9/11/20 16 2:39:16 PM
Analytics The field of analytics has grown many folds in recent years. Analytics is a process which helps in discovering the informational patterns with data. The field of analytics is a combination of statistics, computer programming and operations research. The field of analytics has shown growth in the field of data analytics, predictive analytics and social analytics. Data analytics is tool used to support decisionmaking process. It converts raw data into meaningful information. Predictive analytics is tool used to predict future events based on current and historical information. Social media analytics is tool used by companies to understand and accommodate customer needs. The ever changing field of information technology has seen great advancement and changes in the last decade. And from the emerging trend, it can be concluded that its influence on business is ever growing, and it will help companies to serve customers better. In my line of work, cooking at a restaurant, data analysis is used to decide which items need to be ordered and which don't. Every single item is accounted for and put into inventory. We use predictive analysis to order more of any item on a particular holiday weekend. More chili is usually sold in winter than in the summertime, therefore, we order more in the winter. We use social media analysis by watching the ads for our products on tv and shares, comments, and interest on social media accounts. This helps us sell certain items and become a more successful branch of the restaurant. Source: MSG team comprises experienced faculty and professionals who develop the content for the portal. We collectively refer to our team as “MSG Experts”. To Know more, click on About Us. The use of this material is free for learning and education purpose. Please reference authorship of content used, including link(s) to ManagementStudyGuide.com and the content page url. http://managementstudyguide.com/emergingtrendsininformationtechnology.htm
