What are the purposes and distinguishing characteristics of business analytics?
Mobile dashboards have similar components to business dashboards, but with a few key differences. The components of business dashboards include:
Before data can be analyzed, it must be collected, centralized, and cleaned to avoid duplication, and filtered to remove inaccurate, incomplete, and unusable data. Data can be aggregated from:
In the search to reveal and identify previously unrecognized trends and patterns, models can be created by mining through vast amounts of data. Data mining employs several statistical techniques to achieve clarification, including:
In many cases, consumers perform similar actions at the same time or perform predictable actions sequentially. This data can reveal patterns such as:
Companies can also collect textual information from social media sites, blog comments, and call center scripts to extract meaningful relationship indicators. This data can be used to:
A forecast of future events or behaviors based on historical data can be created by analyzing processes that occur during a specific period or season. For example:
Companies can create, deploy, and manage predictive scoring models, proactively addressing events such as:
Companies can identify best-case scenarios and next best actions by developing and engaging simulation techniques, including:
Information and insights drawn from data can be presented with highly interactive graphics to show:
These data visualization components allow organizations to leverage their data to inform and drive new goals for the business, increase revenues, and improve consumer relations.
What are the purposes and distinguishing characteristics of business analytics?
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[A Financial accounting information and managerial accounting information have a number of distinguishing characteristics. To submit your answer, number your answer space 1 through 10 (corresponding to the numbering of the items below). For each of the characteristics listed below, indicate which characteristics are more closely related to financial accounting by placing the letter "F" in the space to the left of the item and indicate those characteristics which are more closely associated with managerial accounting by placing the letter...
A Financial accounting information and managerial accounting information have a number of distinguishing characteristics. To submit your answer, number your answer space 1 through 10 (corresponding to the numbering of the items below). For each of the characteristics listed below, indicate which characteristics are more closely related to financial accounting by placing the letter "F" in the space to the left of the item and indicate those characteristics which are more closely associated with managerial accounting by placing the letter...