Is Has Business Analytics Just a Fad or Is It Helping Businesses Improve And How? Essay Sample

Is Business Analytics Just a Fad or Is It Helping Business Improve and How?
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Is Business Analytics Just a Fad or Is It Helping Business Improve and How?
Power, D. J., Heavin, C., McDermott, J., & Daly, M. (2018). Defining business analytics: an empirical approach. Journal of Business Analytics, 1(1), 40-53. https://doi.org/10.1080/2573234X.2018.1507605
Power and his colleagues have segmented their article into six sections. There is the introduction, some historical background on business analytics, “empirical study of the usage of the relevant terms from public data sources,” a description and summary of business analytics in an organization, a real-life case example in the University College Dublin, and lastly, the results of prior analyses and limitations (40). In essence, the authors are on a trail of providing entry knowledge to individuals who lack a clue or have limited knowledge on business analytics (BA). The definition of such terms according to Power et al. ensures that the discussion thereof is productive and abiding analyses more logical. To this end, the authors provide a curated definition of analytics and business analytics as well as their historical roots.
Public data sources provide the reader with an analysis of the prevalence of BA in the wider community. The authors achieve this end through searching the most predominant keywords searches concerning BA. The authors continue to highlight examples of BA uses including fraud protection, credit risk analysis, customer preference management, pricing flexibility and differentiated pricing, and campaign lead generation. All of these aspects extrapolate the insights drawn from structured data. Conclusively, the authors make a point to mention major areas of BA giving any scholars a formidable idea of what this discipline entails. It is an impressive article that considers the qualitative, quantitative, and statistical aspects of BA and how they are implicated in the search for insights and more importantly, in informing and supporting decision making.
Gavin, M. (2019). Business analytics: What it is & why it’s important | HBS Online. Business Insights - Blog. https://online.hbs.edu/blog/post/importance-of-business-analytics.
Gavin offers an avid analysis of business analytics in that he defines what it is and its importance in a contemporary business environment. His article is fundamental to the cause given how he has expressed his ideas and more importantly, the use of relatively comprehensible language far from the technical jargon that would appear in this discipline. His article, which is found on the Harvard Business Review website, begins by stating how organizations are using the vast amounts of data they are gathering and what percentage is indicative of each objective. To this end, Gavin states that organizations worldwide are using the information to monitor and improve financial performance (52%), drive strategy and change (57%), and boost process and cost efficiency (60%). Since the making of this article of 2019, there was an overall prediction that 71% of global enterprises will have upped their investments and thus, their a...