Describe about the Business Leadership Through Analytics ?
Business Analytics emerged as revolutionary technology in today's world. In the current, time the business environment completely influenced by using the business analytics in the business approaches, models, and strategies. In this Paper, the impacts of Business Analytics in the on the Global Business Management has been highlighted. Examples of two companies are undertaken one is using the Business Analytics in their business and the other is not. The positive and negative impacts of the Business Analytics on these businesses also discussed. Today, Business Analytics have made their mark and proved itself as the customary for the information system of the business (Apte, Dietrich & Fleming, 2012). Implementation of Business Analytics in the organization has completely prejudiced the on the whole functionality of the corporation.
IBM using the Business Analytics
The IBM offers SaS (Software as a Service) for Business Analytics. In today’s world, the enormous amount of big data requires new knowledge, decision-making, and skills. IBM embedded information- based insights into individual processes, actions and decision. Implementation of Business Analytics software in the IBM helps the company to achieve the not only the short-term goals but also the long- term strategic planning of the organization. IBM is the organization that is providing the services to the several small and medium sized enterprises to enhance their business processes and strategies to attain the desired objectives of the organization (Chen, 2009). Business Analytics has proved as the building blocks of decision making of any organization. Business Analytics is the means that standardizes the methods of business ofan business. As Business Analytics, is implemented all over the Business oriented organizations, it has presented the affluent functionalities such as the decision- making process, inventory management, resource management, etc. The deployment of Business Analytics not only affected the industry at national level but it has altered the complete business management worldwide. It enhances the process of the business activities, and this business change has been followed by the organizations across the globe (Apte, Dietrich & Fleming, 2012).
There are several benefits of using and implementing the Business Analytics software in the organizations. However, some major risks and Challenges are also faced by the organization while implementing the Business Analytics in the business process and strategies.
Advantages of Business Analytics
Sales, distribution and promotion
These are the fields where the Business Analytics has shown its full influence in the rapid advancement and growth of the organization.
Risks Implementing the Business Analytics
Regulatory Obstacles: Rapid change in regulations and uncertain markets affects adversely to the profitable investments.
Resource constraints: demand for the effective planning processes results in the shortage of skills.
Cultural differences: sometimes the cultural and religious differences, occurs when the operations are thousands of miles away. Management of workforces in these situations is the major challenge for the company.
Problem Flexibility: system disruptions occur due to a growth of interdependency of international value chains (Doumpos & Zopounidis, 2015).
These are the some major challenges that are faced by the IBM while using the Business Analytics in its business process. However, these challenges and risks are not faced by the organizations that are not using the Business Analytics. Therefore, these companies and organizations not need to concern about these issues as their business process are running smoothly completely (Duan & Xiong, 2015).
Novatech using the Business Analytics
Novatech is the IT based company that is not using the Business Analytics tools for running the business processes and strategies to attain its goals and objectives. This organization uses the traditional method of running the business processes (Ringeling, 2015). This organization is using the traditional approaches for the extraction, search, and for the other use of big data. The company does not get any benefits of the business analytics in its decision- making procedures, business processes, business strategies, and other management support for the improvements of the business and organization (Vera-Baquero, Colomo-Palacios & Molloy, 2013). Novatech basically, uses the Research and Development traditional process of development of products and services. There are various sectors where the Novatech is lagging down to compete with the different large organizations such as Microsoft, Google, IBM, etc. Many small industries had not implemented the Business Analytics and though carrying their business process successfully and achieving its goals and objectives without having any hurdles. Novatech is one example of such industry, which is not using the tool of business analytics (Ringeling, 2015).
Apte, C., Dietrich, B., & Fleming, M. (2012). Business Leadership Through Analytics. IBM Journal Of Research And Development, 56(6), 7:1-7:5. doi:10.1147/jrd.2012.2214555
Chen, W. (2009). Business Risks, Business Strategies, HRM and De-Globalization. Asian Social Science, 5(1). doi:10.5539/ass.v5n1p18
Doumpos, M., & Zopounidis, C. (2015). Editorial to the special issue “business analytics”. Omega. doi:10.1016/j.omega.2015.06.006
Duan, L., & Xiong, Y. (2015). Big data analytics and business analytics. Journal Of Management Analytics, 2(1), 1-21. doi:10.1080/23270012.2015.1020891
Ringeling, C. (2015). A Practical Approach to Business Analytics Software.Computer Law Review International, 16(1). doi:10.9785/cri-2015-0103
Vera-Baquero, A., Colomo-Palacios, R., & Molloy, O. (2013). Business Process Analytics Using a Big Data Approach. IT Professional, 15(6), 29-35. doi:10.1109/mitp.2013.60