Page 123 - DCAP208_Management Support Systems

Management Support Systems Navpreet Kaur, Lovely Professional University

Notes Unit 8: Usages, Benefits and Success of Business
Analytics and Data Visualization

CONTENTS

Objectives
Introduction
8.1 Usages of Business Analytics and Data Visualization

8.1.1 Usages of Business Analytics
8.1.2 Usage of Data Visualization
8.2 Benefits of Business Analytics and Data Visualization
8.2.1 Benefits of Business Analytics
8.2.2 Benefits of Data Visualization

8.3 Success Factors of Business Analytics and Data Visualization
8.3.1 Success Factors of Business Analytics
8.3.2 Success Factors of Data Visualization

8.4 Summary
8.5 Keywords
8.6 Review Questions
8.7 Further Readings

Objectives

After studying this unit, you will be able to:

Discuss the Usages of Business Analytics and Data Visualization
Discuss the Benefits of Business Analytics and Data Visualization

Discuss Success Factors of Business Analytics and Data Visualization
Introduction

Focus on business analytics has increased steadily over the past decade as evidenced by the
continuously growing business analytics software market. Business analytics is reaching more
organizations and extends to a wider range of users, from executives and line of business
managers to analysts and other knowledge workers, within organizations. In an environment
of increasingly faster growing data volumes where operating on intuition is no longer an
option, business analytics provide the means to both optimize the organization internally and
at the same time maintain flexibility to face unexpected external forces. Visualized data is
frequently displayed in business intelligence (BI) dashboards and performance scorecards that
provide users with high-level views of corporate information, metrics and Key Performance
Indicators (KPIs). In this unit, we will discuss the usages, benefits, and success of business
analytics and data visualization.

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