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5 pages/≈1375 words
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APA
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Business & Marketing
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Essay
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English (U.S.)
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Topic:

Business Analytics and Experimentation

Essay Instructions:

Williams Sonoma Reading: “We start with a creative idea, test it, prove that it works, and then roll it out.”
MIT Sloan Reading: “...experimentation-based approaches emphasize less- specific early planning, good-enough requirements, and experimental and evolutionary design…”
MIT Sloan Reading: “Many of the analytics project managers we spoke to consider experimentation fundamental to the learning process.”
Davenport & Harris Reading: “ Any true analytical competitor wants to have a series of experiments and evidence documenting the value of the approach and the prove-it path helps the organization accumulate that empirical evidence.“ (p116)
Question 1:
Drawing upon the sample quotes above and others from the readings, why is an experimentation perspective essential to integrating business analytics into an organization?
Context for Question 2:
Williams Sonoma Reading: “Since becoming CEO, I’ve worked to bring our information technology and e-commerce teams closer to the brands. We’ve centralized and integrated our marketing, analytics, and IT functions so that we can more easily share and execute on ideas and information that benefit the entire group. We also created two new senior vice president roles: One SVP heads a combined e-commerce engineering and marketing group, reporting to both our CIO and our CMO, and the other oversees multichannel direct marketing across our brand portfolio.”
MIT Sloan Reading: “the most appropriate modus operandi would be to approach analytics projects as partnerships between the business side and IT.”
Davenport and Harris Reading: P121: “...IT must work more aggressively to integrate and standardize enterprise data in anticipation of radically increased demand from users.”
Question 2:
Drawing upon the sample quotes above and others from the readings, outline why partnering closely with information technology is so important to building a business analytics capability?
Context for Question 3:
Williams Sonoma Reading: “One of our marketing executives likes to tell a story about my initial reluctance to replace merchant-driven product recommendations on our e-commerce websites with algorithmically driven ones. ”
MIT Sloan Reading: “….one of the major risks of analytics projects is that the decision makers won’t be savvy enough to understand the analysis or the model’s underlying assumptions,”
MIT Sloan Reading: “Successful, experienced project managers will try to advance the learning curve and coach the stakeholders into cultural change.”
Davenport & Harris reading: p116 “..trying out analytics in a series of small steps.”
Question 3:
Drawing upon the sample quotes above and others from the readings, describe what you see as the major managerial impediments to adopting business analytics processes in an organization. How might these impediments be mitigated?

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Business Analytics
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Question 1: Drawing upon the sample quotes above and others from the readings, why is an experimentation perspective essential to integrating business analytics into an organization?
Avoid unnecessary loss of funds
The adoption of business analytics and big data tools requires huge amounts of funds and complex knowledge. With the business environment becoming more competitive and companies suffering from disruptions caused by COVID-19, it is prudent to only adopt and implement something that is working and beneficial. In this case, the benefits of business analytics have been reported in various studies. However, it does not mean that it will be beneficial to any company because each firm has its unique environment. As a result, it is prudent to experiment with the implementation of business analytics in a small section of the firm then make changes depending on the results of the experiment. This approach ensures that funds are only directed to activities or changes that benefit the business.
Opportunity to learn and make necessary changes
Furthermore, adopting experimentation-based approaches offers an opportunity for senior managers and departmental heads to observe, learn, and make the necessary changes. Experimentations are not rigid, which implies that they cover a broad range of activities. For instance, an experiment regarding business analytics may be undertaken with the view of capturing customer data, evaluating that data based on certain hypotheses, and making products that reflect the outcome. In such a scenario, the whole experimentation process will be fundamental to the learning of managers regarding consumer data and how business analytics works. Importantly, if such an experiment is undertaken more than twice, the company will obtain significant data that details the value and worth of business analytics. The accumulated evidence and knowledge obtained from the experiments can be used to make a decision regarding the rolling out of business analytics in the whole company and which changes should be made to make the analytics reflect the company’s business environment.
Question 2: Drawing upon the sample quotes above and others from the readings, outline why partnering closely with information technology is so important to building a business analytics capability.
In the current world, information technology is simply everything. It is what one needs to run virtually everything relating to business analytics. In a business environment that is increasingly driven by data, analytic departments are at the center of the success of businesses. As a result, the need to frequently access data and obtain insight into the business environment implies that IT departments and other parts of the business must partner at the operational and strategic level to build a strong business analytics capability. Generally, individuals in an organization can freely obtain data from the external business environment and use it to drive innovation.
Although this process is helpful, it does not have a specific goal because it is not based on the data of the target market. However, integrating the IT department with other parts of the business ensur...
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