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Read below and write rebuttal
Discovering patterns or trends is always important to business
operations as they allow a more predictable outcome of an event once a
decision is made. As the text describes, quantifiable data is data that
can be represented by a numerical scale, such as how many stores exist
in region or what the dollar amount of sales for an individual product
was for the past six months. Qualitative data varies greatly in that it
is not naturally accountable on numerical scale. For instance, the
amount of influence a recent advertisement campaign had on a selected
target audience. Even as the marketing campaign may have had a
significant impact on the consumers the translation to a numerical scale
is not direct. However, often gathering consumer qualitative data such
as using post purchase questioning often allows very effective decision
making and insight on such things such as brand management, marketing,
and consumer relationships.
Business Analytics: Discovering Patterns Or Trends In Business Operations.
Length: 1 pages (365 Words)
Importance of business analytics
Discovering patterns or trends is always important to business operations as they allow a more predictable outcome of an event once a decision is made. In research processes, the communication and discovery of meaningful patterns in a data set is referred to as analytics (Henderson, 2014). In fields with recorded information, analytics basically relies on simultaneous use of statistics, operations research and computer programming techniques to quantify performance.