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MT300M2-2: Analyze the importance of data management, knowledge management, and business analytics to business organizations.
GEL-2.01: Communicate the impact of mathematical results in a discipline specific situation.
Using Information for Decision Making
In business, people are constantly making decisions. Show that you understand the decision-making process and the applications, technologies, and processes for gathering, storing, accessing, and analyzing data to help business users make better decisions.
In this assessment, you will discuss the importance of using historical data from a database, data warehouse, or data mart for making decisions for an organization. You will learn about the different types of data analytics and the different ways to present the data to make effective decisions. You will also practice using a spreadsheet as a tool for business analytics.
There are two parts to this assessment. You will complete lessons located within the WileyPlus Lab, then you will write an essay discussing the information.
Marketing managers at TED, known for TED Talk events and conferences, feel that the data they have collected over the years could be analyzed to provide them with some insights about their products. They have come to you because of your expertise in data management, knowledge management, and business analytics to ask for your recommendations.
First, you need to complete the following data analytics lessons in WileyPlus and provide the Excel® spreadsheets, with the formulas, for answering the questions present by the lessons. Use the information from the spreadsheets in your essay and attach the spreadsheets as appendices to your essay.
You will find the following lessons under the Data Analytics and Decision-Making Module:
Data Analytics Lesson 01: Excel Activity
If you need additional assistance in completing this activity, review the tutorial located after the last question on using formulas and functions.
Data Analytics Lesson 02: Excel Activity
If you need additional assistance in completing this activity, review the tutorial located after the last question on using sorting and filtering.
Data Analytics Lesson 04: Excel Activity
If you need additional assistance in completing this activity, review the tutorial located after the last question on using the formula bar.
Next, you will need to write at least a 3-page (minimum 750 words) essay discussing your recommendations as to how you might assist the company based on the data from the spreadsheets you just completed. What are the three types of analytics that you can provide? What tools could you use? What are the ways that this information might be presented to them to be the most effective? Demonstrate that you understand how the concepts of data and knowledge management, big data, and business analytics fit together to provide strategic information.