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Information Systems and Controls AssessmentAmjad Arafah180010094IT 500 ” Business and Information TechnologySaudi Electronic University ” Riyadh CampusDr. Mohammed JarrayaJune 21, 2019Table of Contents TOC o “1-3” h z u Executive Summary PAGEREF _Toc12051059 h 3Introduction PAGEREF _Toc12051060 h 3Big Data Analytics PAGEREF _Toc12051061 h 3Using Big Data Analytics PAGEREF _Toc12051062 h 4Customer Acquisition and Retention-related factors PAGEREF _Toc12051063 h 4Advertisement Problems and New Marketing Ideas PAGEREF _Toc12051064 h 4Risk Management PAGEREF _Toc12051065 h 4Proper Guidance for Innovations and Product Development PAGEREF _Toc12051066 h 5Supply Chain Management PAGEREF _Toc12051067 h 5Organization Examples Using Business Analytics PAGEREF _Toc12051068 h 5Coca-Cola PAGEREF _Toc12051069 h 6Amazon Fresh and Whole Foods PAGEREF _Toc12051070 h 6Conclusion PAGEREF _Toc12051071 h 7References PAGEREF _Toc12051072 h 8Executive SummaryData analytics is the practice of examining large amounts of data and famously known as big data.
This big data examination revels some of data hidden patterns, the data correlations and it helps to give insights on making proper business decisions.
In these days, Organizations recognize the big need for evolving from a knowing organization to a learning organization. Businesses is aiming to embrace the power of data and technology to be more objective and data driven.Advanced software systems are used in the big data analytics to achieve a helpful results utilizing efficient efforts and in reasonable time. The ability to analyze the big data efficiently allows business to make the right decisions in the right time.Introduction’Big data’ is a term indicating extremely large sets of digital data.
Analyzing these data may reveal patterns, trends and associations relating to human behavior and interactions. Companies have chosen to use the readily available feedback for improving their overall performance by automating their processes, gaining insight into their target market.Here we look at some of the businesses integrating big data and how they are using it to boost their brand success.Big Data AnalyticsExamining a large amount of data helps taking the proper decisions in business world. Although the concepts of data analytics or the big data has been around for many years, they were conducted in simple and slow ways to support the business success. Nowadays, advanced software systems are used in the big data analytics to allow businesses to achieve less analytics time for faster and better accuracy decision making. Big Data Analytics UsesCustomer Acquisition and Retention-related factorscustomers are the basic component in any business. For the success of any business it is required to establish a solid customer relation base, where a competition is always there. Neglection of the customer needs or slow response can lead the business to go out of the field due to the loss of clients.Using big data allows businesses to analyze and explore the different customers’ patterns and trend which eventually increase the customer loyalty. It was reported that The more data a business collects the more patterns and trends can be identified. Currently, the used technology in business can easily collect all customer data which make understanding the customer an easier practice. Advertisement Problems and New Marketing IdeasMatching the customer expectation might change the business to the right direction in no time. Big data can help business in changing to required product line.Big data has been now adopted by the technology field of marketing and advertising in a more advanced and sophisticated way of analysis. This includes monitoring the point of sale transactions and following the online activities. Moreover, detection of dynamic changes in customer requirements and trends. To save money and ensure efficiency the targeted and personalized campaign can be beneficiary where the right clients are targeted with the right products. Risk ManagementDue to the high competition in the market, any business requires a proper planning to manage the risks that might affect its existence. A risk management plan is a critical investment for any business regardless of the belonging field. Mitigating risks before their happening is a critical mission for any business.Big data analytics can help greatly in developing risk management plans. The available tools allow the businesses to quantify and model the different risks that are related to it. A smart business mitigation plan can help in achieving smarter risk mitigation strategies and to make strategic decisions.Driver of Innovations and Product DevelopmentIn order for business to keep up with the strong competition, it should come up with innovative solutions and products. Big data can help tremendously in this field. It gives the ability for a business to innovate and redevelop their products to keep attracting the consumers’ attentions. The design process begins by establishing what fits the consumer.Supply Chain ManagementSupplier networks requires greater accuracy to ensure the business success. The big data analytics can provide a higher clarity and Insights in this regard. Applying the big data analytics gives the suppliers the ability to achieve contextual intelligence across the supply chains. Big data analytics allow suppliers to learn from their historical data and avoid any resource of waste.Complex supplier networks achieved success by utilizing the modern supply chain systems that are based on big data.Organizations Using Business AnalyticsMany organizations are using BA for one or more of the previously mentioned reasons. Among these organizations: Coca-Cola and Amazon Fresh and Whole Foods.Coca-ColaIt is an American Company established in 1892. It is engaged primarily in manufacturing and the sale of syrup and concentrate for Coca-Cola. The company produces mainly Coca-Cola which is a sweetened carbonated beverage and other soft drinks and citrus beverages. With more than 2,800 products available in more than 200 countries, Coca-Cola is considered to be the largest beverage manufacturer and distributor globally and one of the largest corporations in the United States. Headquarters are in Atlanta, Georgia.Coca-Cola is using BA to boost customer acquisition and retention. In 2015, Coca-Cola managed to strengthen its data strategy by building a digital-led loyalty program. Coca-Cola director of data strategy was interviewed by ADMA managing editor. The interview made it clear that big data analytics is strongly behind customer retention at Coca-Cola.Amazon Fresh and Whole FoodsAmazon.com is an American multinational technology company established in Seattle, Washington. It focuses on e-commerce, digital streaming, cloud computing, and artificial intelligence. It is considered among the Biggest Four technology companies: Google, Apple and Facebook.Amazon is the largest Internet company by revenue in the world and considered the second largest employer in the United States and one of the world’s most valuable companies. Amazon is known for its disruption of well-established industries through technological innovation and mass scale It is the world’s largest e-commerce marketplace. Amazon is the second largest technology company by revenue.Amazon Fresh and Whole Foods is using BA as a driver of innovations and product development. Focusing on big data analytics, Amazon whole foods is able to understand the interaction between the customers buying groceries and the suppliers. These data gives insights whenever there is need to implement further changes.ConclusionOrganizations have invested in big data analytics for different purposes to ensure a continuous existence in the business field. Any kind of business that we know depends on quick and agile decision to remain competitive in the market which is developing in fast manner. In this paper we had seen how data analytics or big data can help business in protecting their benefits and their existence in the market. Also, the big data can help the companies in improving their profits and their efficiency.References Kopanakis, John. (2018, June 14). 5 Real-World Examples of How Brands are Using Big Data Analytics. Retrieved (2019, June 20) From O’Neill, Eleanor. (2016, September 23). 10 companies that are using big data. Retrieved (2019, June 20) From
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IT 500 Module 4 Critical Thinking. (2019, Aug 20). Retrieved from https://studymoose.com/it-500-module-4-critical-thinking-essay