The Different Layers of the Business Analytics Model - Essay Example

?Business Analytics for Managers Contents Chapter 3 Chapter 2 3 Chapter 3 4 Chapter 4 4 Chapter 5 5 Chapter 6 5 Chapter 7 6 Chapter 8 6 Chapter 9 7Work Cited 8 Chapter 1 Question1. Explain the different layers of the Business Analytics Model? Answer. The structure of the business analytics of an organization is provided by the business development model. Achievement of the strategic objectives of the organization by changing business processes is the objective of BA model. The BA model composes of five layers: 1. Top management- The business strategy for the business analytics in the top layer is created by the top management. 2. Operational decision makers- After creation of the business strategy, the objectives for the operation business process are established. 3. Reporting, controlling and analytical processes- The necessary information and data for the desired changes in operational managers’ behavior are identified and specified by the business analysts. 4. ELT developers and data base specialists- The data from data warehouses is gathered by the database specialist or the ETL (extract, transformation, and load) developer who make it assessable and usable to the front-end application of the business. 5. IT Professionals- In this layer, infrastructure run and develop the primary data is developed by generating sources or creating new data by the IT professionals. (Laursen & Thorlund, 2010) Chapter 2 Question1. Explain the process of business analytics at strategic level. Answer. The process of business analytics at strategic level could be explained by integration between the BA function and the company’s strategy. There are four different scenarios showing the degree of integration between business strategy and strategy: 1. Where no formal link exists between strategy and BA, the BA function is used on an ad hoc basis. 2. When the link between BA and strategy is coordinated, the BA function is purely reactive and there is no feedback procedure from BA to strategy. 3. When there is a formal feedback procedure from BA to strategy and strategy innovation is supported by BA. 4. Where the information is used as a strategic resource. It enables the information to be used to determine the strategy. (Laursen & Thorlund, 2010) Chapter 3 Question1. Explain the process of establishing a new business processes with the Rockart model? Answer. The process of establishing a new business processes with the Rockart model consists of the following stages: 1. Objectives- The first step is the identification of the objectives, i.e. to identify the aim and purpose of the information to be developed. 2. Operational Strategy- The operational strategy to fulfill the objective is identified and implemented. 3. Critical Success Factors- A large number of activities are initiated by implementation of a strategy. Some of these activities are more critical than others. All such critical success factors should be identified. 4. Lead and Lag Information- The information at functional level can be broadly classified as: Lag information- The information which we choose to register on an ongoing basis is the lag information. Lead information- Lead information is created on the basis of lag information. It helps in monitoring and improving the existing or initiating processes. (Laursen & Thorlund, 2010) Chapter 4 Question1. What are the required competencies of a business analyst? Answer. A business analyst is a provider of methodology. A business analyst must meet the following requirements: 1. Business competencies- A business analyst must have the business competencies and should understand the business process properly. He or she must have the business insight. 2. Tool Kit must be in order- A business analyst should be able to deliver multiple information in same data and should be able to visualize the information as the user. 3. Technical understanding- The business analyst should have the technical understanding of the information which could be used in collection and presentation of data. (Laursen & Thorlund, 2010) Chapter 5 Question1. What are the different techniques used in data warehousing in Business Analytics? Answer. A data warehouse provides an organization with data which is consistent, integrated and valid. The various techniques used in data warehousing include: 1. Master Data Management- MDM is used as an intelligent way of consolidating and managing data in complex and high volume data. It provides a unified view of data, when data is integrated from different data sources. The master data management is most suitable for organizations growing in long term and merging companies. 2. Service-Oriented Architecture- Service-oriented architecture is a way of thinking about how to use the organization’s resources based on a service approach. It makes systems more flexible and integrated, simpler to develop further and easier to maintain and manage. Implementing solutions with a service-oriented architecture facilitates the organization’s planning for the future and helps it to respond proactively rather than reactively. (Laursen & Thorlund, 2010) Chapter 6 Question1.What is the uses of source system? Answer. When a data generated for the first time is saved, it becomes the source system for data warehouse. Data in the warehouse comes from primary sources and is saved on the basis of organizations rules and requirements. Based on the data warehouse information a large number of analysis and business processes are carried. The uses of source systems can be summarized as: 1. It helps to carrying the segmentations based on behavior and value of the customers, etc. for example, billing systems. 2. Source systems also contain history about customer calls and conversations, for example, CRM system. 3. The information about user behavior on the company’s Web site can also be gained using source system, for example, web log. 4. The source systems also help in analyzing the questionnaires performed by the business company in evaluating a strategy. 5. Information from ERP systems which includes accounting management systems in which entries are made about the organization’s financial transactions for the use of accounting format could also be analyzed through source system. (Laursen & Thorlund, 2010) Chapter 7 Question1.How does a business intelligence competency centre (BICC) process? Answer. A BICC is a problem solving forum having integrated business, analytical and business competencies. In order to provide the right information to the right people at the right time, data is condensed into information and knowledge. This is called information wheel. An information wheel summarizes the knowledge and information. The BICC must maintain the information wheels. The BICC must focus that the processes of an information wheel could be performed in several places instead of being performed at one place only to create a synergy on the data side via a correct combination of data. The BICC should be user-friendly and relevant. On implementation of a new information system, the user should be trained to use them. The information generated should be reliable, accurate and actionable. BICC must also prioritize the new business analytics initiative. (Laursen & Thorlund, 2010) Chapter 8 Question1.How and in which order the business analytics initiatives should be implemented? Answer. The business analytics projects must be prioritized so that they can be implemented efficiently. Various parameters are taken into consideration for the prioritization of business analytics projects. Projects not specified as the part of company’s strategy are expected to render improved performances. So a non strategic project is prioritized to a strategic project. Only on experience of subsequent improved decision making the value creation of the project is realized. The project thus having higher under covered value creation is prioritized. When a project runs for several years, it is prioritized on the basis of strategic context. A qualitative business case based on cost/ benefit method should be used in case of projects having uncertainty. Maturity models are used as a tool to find the involvement of the project in bigger picture. It also helps in relating technical solutions to strategic requirements. (Laursen & Thorlund, 2010) Chapter 9 Question1. What scope does Business Analytics has in the future? Answer. Business Analytics can be defined as delivering the right decision support to the right people at the right time. The role of BA in future can be explained with the help of this definition.The solutions provide by BA will be highly complex and precise in future. It will provide the right decision support to the users. In regards to the right people, major changes will be seen in near future as the BA’s solution must develop to the level of users’ preferred way of making decision. BA’s solutions are forecasted to be real time based and users will be getting solutions as and when they are found. (Laursen & Thorlund, 2010) Work Cited Laursen, Gert H.N. & Jesper, Thorlund. Business Analytics for Managers. Hoboken, New Jersey. JohnWiley & Sons, Inc. 2010. Pdf. Read More