Informational technologies play an important part of any company's and business's development, as this is a strategic weapon nowadays. Killer apps have a strong power and more and more companies question for them as they promise to provide the biggest competitive advantages. Some companies have upgraded in this competition and now transformed their institutions into Killer apps. This is not only because the business has more and more data and information that turns around it, but also is it a great challenge to take. Analytics competitors are a key link in all processes, as only they know the market and who and why is going to buy the exact product. The purpose of the following essay is to talk about analytics competitors and their influence on business in general.
Only high-skilled professionals are hired for those positions, while they know all the areas of influence that can make a company prosper. Those are leaders in multiple areas - finance, consumer products, travel, entertainment, and retail. For instance, the company known as Capital One can thank for the 20 percent grow in shares every year to analytics competitors. Amazon also used it to win the market share and turn the profit irrespective of the fact that they made huge investments in infrastructure and growth. Not steroids, buts statistics is the key to win in sports, as it give an advantage of knowing the facts.
How can a company become prosperous as an analytics competitor? The answer is quite simple - just never stop at what you have achieved. Marriott International is a brilliant example of top winners in global game. Besides the optimal price system establishment for guests, this company has increased its expertise in areas such as catering and conference, and created special Internet application that is easily accessible for managers and hotel owners. The system that shows the customer's likelihood to choose the competitor's offer was also developed. Revenue of Marriott International has increased from 83% to 91%. The behavior of this company is not traditional and includes three behaviors, which can be summarized into the following: common usage of optimization and modeling, an enterprise approach, and senior executive advocates.
First approach, which is a common usage of optimization and modeling, talks about looking beyond the statistics, which is available within any organization. The specialists in order to analyze and get a comprehensive understanding of their customers generate the in-house and external data. Such methods as supply chains optimization, alternatives simulations, shipment routing and mapping are used. Experiments are also an important part of this approach.
An enterprise approach.The sophisticated quantitative difference that is implemented regularly can improve the situation significantly, and this is the pillar of this approach. The information-based strategy is important to analytics competitors as it is one of sources to their strengths as well as statistics.
Senior executive advocates. This approach is all about changes in processes, behavior, skills, and culture for many employees that are led by top management, especially CEO. The analytics change requires the top leader to have a familiarity and an appreciation of the subject. Another source of strength to analytics competitors are observations done by human beings.
People who use proper strategies together with informational technologies will give the strength to the organization. Finding the right focus is very important, as it is critical to choose at some stage where to put all the resource-intensive efforts. The right culture is the next important factor, as such methods as rewarding, bonus systems and measurement of leadership traits are more often used in organizations. The right people is another strength and means that when a company is looking for a person to fulfill the vacant position, it seeks for a candidate with analytical thinking or an analyst that would perform much better and provide more benefits for the company. Such people can generate complex ideas in a short timing and have proper relationship skills with decision makers. The right technology is about getting all possible data from any source in a quick manner in order to analyze it with the help of IT techniques. It includes data strategies that are about collecting information, business intelligence software, which helps to extract, lead, and transform information into reports, scorecards, and alerts, and computing hardware that is related to quicker processing of the information (Davenport, 2009).
Business modeling is done with the help of management science professionals and operations research (OR). It requires the usage of the computer and quantitative methods for proper planning the efficient resources allocation in industry, business and the organizations of government (Monash University, 2013). This article has influenced my views in a positive way, as I have once again understood that it is really important for any company to have a proper combination of data usage along with people' s management. If to talk about business decision making, I found a clear correlation of the article with the basis process, they are related to the fact that in any company's management, before making a decision, it is critical to demand more evidence, examine logic and encourage experimentation (Harvard Business School Publishing, 2013).
To conclude, I am more inclined to say that in general my view conforms to the ideas given in the article, as it is important to develop the analytics competitors. The right culture, the right resource, and the right people can really make a difference for the company and give more profitability in the times when the market is as competitive as ever. However, talking from the Christian worldview, I want to mention that sometimes it is not very important to think only about the profitability or money, but to think more about employees and consumers. There are some companies (I would not name them, but they are in the area of food industry) who would say that safety of employees and customers is much more important that profitability of the company.
Dear Mr. Kelly,
I would like to call your attention on the ways that Bauer College of Business would improve the services of learning to the community. The University has offered a well-organized program to provide business studies to students. However, the only programs offered in the business course involve face to face lectures between the students and the course facilitators. Though the business students benefit immensely from the tutoring and advises, the demand for business studies is on the increase. The increase in demand for the business studies necessitates the need to customize the services to meet the student's needs.
As the administrator of the Bauer College of Business, it is necessary to provide the necessary resources to support the increasing demand and increase the number of courses offered online. The online learning experience would cater for the increasing demand by offering additional online courses for the undergraduate business majors. This would cater for the working students, those who live far and the ones who have families. In assessing and identifying the need for online studies, the following needs to be considered:
Bauer College of Business Online learning services
The online classes will increase the number of new enrollments in the college of business. It will benefit the part-time student who can become a full-time student. The statistics indicate that the Undergraduate part-time of the whole university is about 25%. The majority of part-time students are those with full-time jobs. One-third of the undergraduate students who are fully employed while attending college can benefit a lot from online classes. It would benefit the 37% of university students who commute long distances, and those who cannot afford living on campus, which costs a minimum of $2,252 per semester. The college loses a good number of students who are willing to enroll, but have young children who demand flexible hours. The Bauer College of Business can enroll a large number of students by considering implementing online courses.
The provision of online business classes would enable students to enroll for higher business degrees. Additionally, it would facilitate students to be double major by applying online classes. The online classes would allow students to finish undergraduate classes quicker, and allow them to complete a second major or a higher degree. The statistics of fall 2011 indicates that the undergraduate students totaled 4,430. On the other hand, low numbers enrolled for full time MBA - 166, Master in Finance – 71, and master in Accounting – 356. The online classes would see an increase of the enrolled for MBA, Master in Finance and Accounting.
As indicated above, the business online courses would offer great advantage to both the college and the students taking business courses. The online courses will be an ideal model to promote learning to your business college. The online courses would help in the expansion of the college, and add value to the learning services offered by Bauer College of Business.
Need for online courses in Bauer College of Business
The information below will prove the need to increase online business courses in your college:
- An estimated over 44 per cent of the total number of students are not residents of Harris County. The international and out-of-state students add up to 8.5 and 2.5 % respectively of the University population. The international students are from over 130 different countries of the world.
- The statistics of fall 2011 indicates that there were more than 250 undergraduate business majors in the Honors College.
- Over a third of the undergraduate business students are fully employed and attend college at the same time.
- The Bauer College of Business has the largest enrollment for the AACSB – accredited undergraduate business programs in the country that exceeds over 4,000 students.
The information given above clearly illustrates the need for increasing online business courses to support the learning services in Bauer College of Business.
The need for increasing the number of business courses offered online would have an immense impact on the learning services of the college. The online courses would benefit a diversified population that wants to build their academic performance.
The online courses would provide the undergraduate business students with the benefits of multimedia resources. The students would be availed with electronic publications that would assist them to counter their busy schedules, and help in reducing their financial burdens.
The increase and provision of online business courses would be greatly beneficial to Bauer Business College. In using the online services, the undergraduate business majors will use services that are tailored to their needs. It is in my strongest opinion that increase of online business courses will improve academic performance. The online classes would allow students to complete undergraduate courses quicker and enroll for a second major or higher degree. Bauer College of Business would generate more tuition income, and get better ranking for quality service to humanity. The students who commute long distances, the working students, and those who cannot afford living on campus would be catered for when online business classes are available.