Running Head: Data Analytics 1 The New Frontier: Data Analytics Donald Ray Sawyer Jr. CIS 500: Information Systems for Decision-Making Strayer University 16 July 2017 Data Analytics 2 What is Data Analytics Data analytics is the method of examining data sets to come up with conclusions about the information they comprise, more and more with the assistance of particular systems and software. Data analytics technologies and methods are generally used in commercial industries to empower organizations to make more-informed business decisions and by scientists and researchers to validate or invalidate scientific models, theories, and hypotheses (Rouse, 2016). The process of data analytics consists of three main parts. The first step would be to collect all reliable data from many different sources with numerous formats. Then a company/person would prepare data for analyses. By preparing the data a company/person needs to make sure all duplicates are removed and put the valuable data into a standardized and organized format, this is called the data-cleansing process. Once all data has gone thru the data-cleansing process, a company/person would perform the accurate analyses and verify the analyses. Once verified a company/person would accurately report the important data (Turban, Volonino, Wood, & Sipior, 2013). If done properly data analytics has the ability to help companies improve operational efficiency, create a better financial process, grow the customer base, detect fraud, and potential stop the fraud from ever happing. Which intern creates a mass return in profit for the company. Running Head: Data Analytics 1 The New Frontier: Data Analytics CIS 500: Information Systems for Decision-Making Strayer University 16 July 2017 Data Analytics 2 What is Data Analytics Data analytics is the method of examining data sets to come up with conclusions about the information they comprise, more and more with the assistance of particular systems and software. Data analytics technologies and methods are generally used in commercial industries to empower organizations to make more-informed business decisions and by scientists and researchers to validate or invalidate scientific models, theories, and hypotheses (Rouse, 2016). The process of data analytics consists of three main parts. The first step would be to collect all reliable data from many different sources with numerous formats. Then a company/person would prepare data for analyses. By preparing the data a company/person needs to make sure all duplicates are removed and put the valuable data into a standardized and organized format, this is called the data-cleansing process. Once all data has gone thru the data-cleansing process, a company/person would perform the accurate analyses and verify the analyses. Once verified a company/person would accurately report the important data (Turban, Volonino, Wood, & Sipior, 2013). If done properly data analytics has the ability to help companies improve operational efficiency, create a better financial process, grow the customer base, detect fraud, and potential stop the fraud from ever happing. Which intern creates a mass return in profit for the company. Points: 120 Assignment 1: The New Frontier: Data Analytics Unacceptable Fair Proficient Exemplary Below 70% F 70-79% C 80-89% B 90-100% A 1. Define data analytics in general and provide a brief overview of the evolution of utilizing data analytics in business. Weight: 15% Did not submit or incompletely defined data analytics in general; did not submit or incompletely provided a brief overview of the evolution of utilizing data analytics in business. Partially defined data analytics in general; partially provided a brief overview of the evolution of utilizing data analytics in business. Satisfactorily defined data analytics in general; satisfactorily provided a brief overview of the evolution of utilizing data analytics in business. Thoroughly defined data analytics in general; thoroughly provided a brief overview of the evolution of utilizing data analytics in business. 2. Analyze the main advantages and disadvantages of using data analytics within the industry or company that you have chosen. Weight: 15% Did not submit or incompletely analyzed the main advantages and disadvantages of using data analytics within the industry or company that you have chosen. Partially analyzed the main advantages and disadvantages of using data analytics within the industry or company that you have chosen. Satisfactorily analyzed the main advantages and disadvantages of using data analytics within the industry or company that you have chosen. Thoroughly analyzed the main advantages and disadvantages of using data analytics within the industry or company that you have chosen. 3. Determine the fundamental obstacles or challenges that business management in general must overcome in order to implement data analytics. Next, suggest a strategy that business management could use to overcome the obstacles or challenges in question. Provide a rationale for your response. Weight: 20% Did not submit or incompletely determined the fundamental obstacles or challenges that business management in general must overcome in order to implement data analytics. Did not submit or incompletely suggested a strategy that business management could use to overcome the obstacles or challenges in question. Did not submit or incompletely provided a rationale for your response. Partially determined the fundamental obstacles or challenges that business management in general must overcome in order to implement data analytics. Partially suggested a strategy that business management could use to overcome the obstacles or challenges in question. Partially provided a rationale for your response. Satisfactorily determined the fundamental obstacles or challenges that business management in general must overcome in order to implement data analytics. Satisfactorily suggested a strategy that business management could use to overcome the obstacles or challenges in question. Satisfactorily provided a rationale for your response. Thoroughly determined the fundamental obstacles or challenges that business management in general must overcome in order to implement data analytics. Thoroughly suggested a strategy that business management could use to overcome the obstacles or challenges in question. Thoroughly provided a rationale for your response. 4. Analyze the overall manner in which data analytics transformed the industry or company you selected with regard to customer responsiveness and satisfaction. Weight: 15% Did not submit or incompletely analyzed the overall manner in which data analytics transformed the industry or company you Partially analyzed the overall manner in which data analytics transformed the industry or company you selected with regard Satisfactorily analyzed the overall manner in which data analytics transformed the industry or company you selected with regard Thoroughly analyzed the overall manner in which data analytics transformed the industry or company you selected with regard Criteria selected with regard to customer responsiveness and satisfaction. to customer responsiveness and satisfaction. to customer responsiveness and satisfaction. to customer responsiveness and satisfaction. 5. Speculate on the trend of using data analytics for the chosen industry or company in the next ten (10) years. Next, determine at least one (1) additional type of data that one could collect by using data analytics. Provide a rationale for your response. Weight: 20% Did not submit or incompletely speculated on the trend of using data analytics for the chosen industry or company in the next ten (10) years. Did not submit or incompletely determined at least one (1) additional type of data that one could collect by using data analytics. Did not submit or incompletely provided a rationale for your response. Partially speculated on the trend of using data analytics for the chosen industry or company in the next ten (10) years. Partially determined at least one (1) additional type of data that one could collect by using data analytics. Partially provided a rationale for your response. Satisfactorily speculated on the trend of using data analytics for the chosen industry or company in the next ten (10) years. Satisfactorily determined at least one (1) additional type of data that one could collect by using data analytics. Satisfactorily provided a rationale for your response. Thoroughly speculated on the trend of using data analytics for the chosen industry or company in the next ten (10) years. Thoroughly determined at least one (1) additional type of data that one could collect by using data analytics. Thoroughly provided a rationale for your response. 6. 3 references Weight: 5% No references provided. Does not meet the required number of references; some or all references poor quality choices. Meets number of required references; all references high quality choices. Exceeds number of required references; all references high quality choices. 7. Clarity, writing mechanics, and formatting requirements Weight: 10% More than 6 errors present 5-6 errors present 3-4 errors present 0-2 errors present
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