Business Value of Analytics: A Research ReportWord count: XXXXXXXXXXAssessment type: Individual Assignment weighting: 25% Due date: End of Week 9 10INF30030 Business Analytics Semester 1,...

Business Value of Analytics: A Research ReportWord count: + 2500 Assessment type: Individual Assignment weighting: 25% Due date: End of Week 9 10INF30030 Business Analytics Semester 1, 2018Swinburne University of Technology Page 2 of 3Business Analytics (BA) refers to the tools and techniques that make it possible to glean value from big data. These tools are used to turn data into actionable information for management, organization and decision making. Majority of organizations can benefit from BA, but here are some of the indicators that you should look into a BA strategy for an organization:• The need to integrate data from multiple business applications or data sources• Lack of visibility into the company’s operations, finances, and other areas• The need to access relevant business data quickly and efficiently• Increasing volume of users requiring and accessing information and more end-users requiring analytical capabilities• Rapid company growth or a recent or pending merger/acquisition• Introduction of new products / services• Upgrades within the IT environment.Though, different kind and size of organizations are using BA, some of the most popular applications of BA include:Finance: Companies these days have a large amount of financial data. Use of intelligent BA tools can help use this data to determine the products’ prices. Also, based on historical information BAs can study the trends on the performance of a particular stock and advise the client on whether to retain it or sell it. Marketing: Use BA to gauge the effectiveness and impact of a marketing strategy on the customers. Data can be used to build loyal customers by giving them exactly what they want as per their specifications. HR Professionals: HR manager can predict the employee retention rate based on data given by BA. CRM: The company wants to improve its service in a geographical segment. With data analytics, one can predict the customer’s preferences in that segment, what appeals to them, and accordingly improve relations with customers. Manufacturing: The Manager wants information on performance of a machinery which has been used past 10 years. The historical data will help evaluate the performance of the2INF30030 Business Analytics Semester 1, 2018Swinburne University of Technology Page 3 of 3machinery and decide whether costs of maintaining the machine will exceed the cost of buying a new machinery. Credit Card Companies: Credit card companies can help the retail sector by locating the target audience. According to the transactions reports, retail companies can predict the choices of the consumers, their spending pattern, preference over buying competitor’s products, etc. This historical as well as real-time information helps them direct their marketing strategies in such a way that it hits the dart and reaches the right audience.YOUR TASK:Your task for this assignment is to select an industry that has implemented BA successfully. Please note that applications of BA listed above are just few examples and is not an exhaustive list of applications by any means. After selecting an application of BA in an industry of your choice, you need to write a report that should address the following aspects of BA implementation:1. Overview of the selected industry 2. Drivers to adopt BA 3. Perceived benefits to achieve from BA 4. BA strategy employed by the industry 5. Challenges to BA strategy 6. Actual benefits achieved through the implementation of BA 7. Drawback of the selected BA strategy 8. Your recommendations to make more effective BA strategyYou are required to conduct a comprehensive review of literature (at least 10 references) to support your arguments.THIS IS THE END OF ASSIGNMENT DESCRIPTION


INF30030 Business Analytics Semester 1, 2018Page | 1Swinburne University of TechnologyINF30030 Business AnalyticsSemester 1, 2018 Assessment Marking Rubric: Research Report Due Date: May 6th, 2018 (11.59 pm) Assessment Weighting: This assessment contributes 25% to your final grade Assessment Type: IndividualCONTENTBELOW EXPECTATION AT EXPECTATIONEXCEEDS EXPECTATIONUnsatisfactory Student presents with minimal evidence of required skills Pass / Credit Student presents with a majority of the required skills 50-90%Distinction/High Distinction Student presents above and beyond the required skills 70-100%Overview of the selected industry (10 marks) Overview of the selected industryThe report failed to provide clear overview of selected industry in the context of business analytics The report offers adequate details on the overview of selected industry in the context of business analytics The report offers excellent details on the overview of selected industry in the context of business analytics Drivers to adopt BA (10 marks) What are the existing problems faced by the selected organization.The report doesn’t offer critical analysis and failed to identify the existing problems faced by the industry.The report offers adequate analysis and identify the existing problems faced by the industry.The report offers excellent analysis and clearly identify the existing problems faced by the industryPerceived benefits (10 marks)Details of the perceived benefits to achieve from BAThe report doesn’t offer adequate discussion on the perceived benefits to be achieved from business analytics strategy. The report offers adequate discussion on the perceived benefits to be achieved from business analytics strategy. The report offers excellent discussion on the perceived benefits to be achieved from business analytics strategy. BA strategy (10 marks)Details of the business analytics strategy employed by the industryThe report doesn’t offer adequate discussion on the business strategy and how the selected industry made use of business analytics to achieve the expected outcomes.The report offers adequate discussion on the business strategy and how the selected industry made use of business analytics to achieve the expected outcomes.The report offers excellent discussion on the business strategy and how the selected industry made use of business analytics to achieve the expected outcomes.22018/10/14 23.59pm220INF30030 Business Analytics Semester 1, 2018Page | 2Swinburne University of TechnologyChallenges (10 marks) What are the challenges faced by the BA strategy?Unclear or no identification of challenges faced by the existing business analytics strategy.The benefits returned by the business strategy are clearly identified with adequate details on the evidence of such benefitsThe benefits returned by the business strategy are clearly identified with excellent justification and details on the evidence of such benefitsBenefits (10 marks) Actual benefits achieved through the implementation of BA.Unclear or no identification of benefits achieved by the business analytics strategy.The benefits returned by the business strategy are clearly identified with adequate details on the evidence of such benefitsThe benefits returned by the business strategy are clearly identified with excellent justification and details on the evidence of such benefitsDrawbacks (10 marks) Drawback/bottlenecks of the selected BA strategyLack of critical analysis of the drawbacks in the existing business analytics strategy currently employed by the selected industry.The report does provide adequate analysis of the drawbacks in the existing business analytics strategy currently employed by the selected industry.The report provides excellent analysis of the drawbacks in the existing business analytics strategy currently employed by the selected industry.Recommendations for improvements: (20 marks) How to make a more effective BA strategyUnclear or no recommendations provided to make a more effective BA strategyThe report provides adequate set of recommendations to make a more effective BA strategyThe report provides clear and concise recommendations to make a more effective BA strategyWritten expression (10 marks)Formal, level of details, grammar, spelling, and punctuation used in the written report.Insufficient, incomplete and irrelevant contents. It is hard to know what the writer is trying to express. Writing is convoluted. Misspelled words, incorrect grammar, and improper punctuation are evident.Writing is generally clear, but unnecessary words are occasionally used. Few spelling, grammar, or punctuation errors are made. Majority of the key contents included in the report.Writing is crisp, clear, and succinct. Choice of language enhances effectiveness of the document. Ideas are supported with evidence. No spelling, grammar, or punctuation errors are made. All the key components of the project are included in the report.(Adapted from Association of American Colleges and Universities, Written Material Rubric)This is the end of Assessment Rubric