BUSINESS ANALYTICS IN DECISION MAKING.pptx

Business analyst in decision making

1. BUSINESS ANALYTICS IN DECISION MAKING SUSHMA SREE S

2. Agenda Introduction Importances of BA in Decision making Role of BA in Decision making Relationship of BA process and Decision making process Example 8/29/2024 2

3. Organizational decision making refers to the process of making choices and selecting course of action based on values and preferences within an organization. 8/29/2024 3

4. In the age of the Internet, social media and other online platforms are generating massive amounts of data. These rich and diverse data sets contain crucial information for businesses as they can mine them to extract valuable insights, including consumer behaviour, preferences, patterns, and trends. Businesses harness this data to tailor their offerings and marketing strategies, providing an edge over competitors. The process of transforming data into insights to make well-informed and improved business decisions is known as business analytics. 8/29/2024 4

5. Importances of BA in Decision making Business analytics enables decision-makers to base their choices on factual data and insights rather than intuition or assumptions. Analytics helps in accurate forecasting, risk assessment, and performance evaluation, leading to more precise decision-making. Analysing historical and current data helps in identifying market trends, customer preferences, and industry shifts, assisting in proactive decision-making. Analytics optimizes resource allocation, ensuring efficient use of assets. 8/29/2024 5

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7. Skill Requirement 8/29/2024 7

8. Relationship of BA process and Decision making process 8/29/2024 8 The BA process can solve problems and identify opportunities to improve business performance. In the process, organisation may also determine strategies to guide operations and help to achieve competitive advantage. Typically, solving problems and identifying strategic opportunities to follow are organization decision making process.

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11. Company : Walmart Challenge : Optimize inventory management & supply chain Goal : Reduce inventory cost and improve satisfaction Solution : Business Analytics Tools : SAS, Tableau, IBM Watson Result : 15% Inventory reduction, 1.5 billion cost savings & 20% supply chain efficiency improvement. CASE STUDY 8/29/2024 11

12. THANK YOU 8/30/2024 12