Data analysis in business
- Description of data analysis
Business analytics is often referred to as practices, technology and skill in continued iterative exploration and investigation of previous business performance to attain insight and conduct the planning of business. A specific example of business analytics application is data analysis. Data analysis entails the inspection, cleaning transformation and modeling of information in an aim to discover valuable information, proposing conclusion and support of decision making (Kennet & Ranaan 2011).
The application entails many approaches incorporating a variety of techniques in various fields. Unilever is one company that has revolutionized the use of data analysis; it uses both qualitative and quantitative methods which in turn, enhance productivity and gain in business. The company is chosen because it is a consumer company, and the nature of its operations is centered towards creation of products that are suitable for their clientele. Data analysis in unilever is vital essentially because it focuses primarily on influencing decision making through thorough data processing and interpretation.
[...] New York, Springer Science & Business Media. Kennett, R., & Raanan, Y. (2011). Operational risk management: A practical approach to intelligent data analysis John Wiley & Sons. Wolf, S. M. (2013). Unilever case studies. Grin Verlag. [...]
[...] In conclusion, it is evident that business analysis as a component of business is heavily reliant on data analysis as an application. Businesses, therefore, need to be particularly involved in this process to ensure they acquire customer satisfaction by allowing the process to inform the decisions made by the organization's management hence, maximization in overall company gains, as a result, of a content client base. References Berthold, M., & Hand, D. J. (2003). Intelligent data analysis: An introduction Springer Science & Business Media. Chambers, J. (2008). Software for data analysis: Programming with r. [...]
[...] The company is chosen because it is a consumer company, and the nature of its operations is centered towards creation of products that are suitable for their clientele. Data analysis in unilever is vital essentially because it focuses primarily on influencing decision making through thorough data processing and interpretation. Description of data analysis Data analysis in Unilever is primarily done in the business to client setting. The consumer company collects and analyzes information related to the clients, processes in business and market economics. The collected data is categorized, stored and synthesized to study purchasing trends and patterns. [...]