Week #8, Blog Entry #8: Big Data Analysis, Data Visualization, and Decision Making This week, we learned concepts related to big data analytics together with data visualization and its utility in business operations including gathering customer sampling data, market analysis, operations management, forecasting, supply change management, and customer service. Multiple companies provide big data management support services to firms to help them manage data gathering and analysis. Big Data Analysis Big data analysis is the process through which a firm can query needed data in a focused area to use the information to help make business decisions. Data needs to be queried, captured, stored, cleaned, analyzed, and shared in a useful format and platform for users to be able to analyze the meaning of the results and help them make business decisions. Data needs to be captured in a trustworthy manner and be statistically ana...
Posts
Showing posts from March, 2025
- Get link
- X
- Other Apps
Week #7, Blog Entry #7: Operations Management This week we learned concepts related to operations management and its importance in maintaining a highly efficient organization. Efficiency is defined as the ability to perform a service or produce a product well at the lowest possible cost. The primary objective of operations management is to transform the company’s resources into products and/or services in the most efficient way possible, by planning, coordinating, and controlling resources to balance costs and revenue (Hayes, 2024). Successful operations management requires integrating human capital, technology, information, and company processes to create value. Key strategies to achieve operational efficiency include automation and forecasting to employ technology to streamline production, decision-making proficiency to evaluate data and trends, and persistent motivation to keep employees engaged and m...