Benefits of Business Analytics
Introduction
In a business environment, knowledge is the essential ingredient for sustained success for an enterprise. Experience in commercial terms refers to the ability of an organization to seek information, find it and synthesize it to produce insight that is helpful in the day to day operations of a company aimed at achieving the strategic objectives of the organization. Business analytics is one aspect or component of the knowledge systems of a company which entails using data within the confines of organizational storage to come up with new ideas more suitable for future adaptability. Statistical methods applied to a specific product, process or project make up the business analytics process, a procedure that can also be used to evaluate an entire company by identifying weaknesses and strengths of its current operations and improving where necessary and omitting the ones that are not viable.
Comparing and contrasting Facebook regarding analytics
The internet currently boasts of its characterization as the biggest forum through which human interaction is possible. The infrastructure installed supports operations of over four billion users with both social media accounts and research websites attributed to the internet numbering more than a hundred with the most popular of the social networking sites considered as Facebook and Instagram. Despite4 the fact that both applications fall under the same ownership and that each is established to address different needs for different users, the similarities between them are as formidable as the differences hence they form an integral part of social communications between people, and their influence is as much.
Currently, though, Facebook enjoys an upper hand regarding user population and influence it generates if the latest statistics hole any credence. Of all online users, the site boasts of three billion users who are about two-thirds of the total users of the internet, a massive difference from the monthly eight hundred million users that Instagram boasts of at this time. However, all the users of Facebook are not available on a daily basis resulting in only 76 percent of users accessing their accounts on a regular basis. In mathematical terms, the daily number of Facebook accounts that are located translates to just a little over two billion people who interact with the site on a regular basis.
In as much as the number of users on a daily basis for Instagram is inferior to the figures reflected by Facebook, organizations benefit from social media based on responses to the products and the issues raised, a phenomenon measured by the number of likes and comments that are attributed to a post. On Instagram, the average daily likes to posts are four billion, higher than the user presence on Facebook, a situation that points to the efficacy of the site in attracting the response. On top of that, Instagram also has the upper hand in the united states that Facebook has given that more than 70% of its users are based in the country as opposed to Facebook where a significantly lower percentage (68) of the users are based in America. In a nutshell, Facebook is the better site on which advertisements of businesses would be based considering its broad scope of coverage. However, for companies that target American markets exclusively, the better pick would be Instagram since a better potion of its use is found in America.
Data analytics in objective achievement for both companies
For both sites, the primary objective is to create networks amongst peers and members of a community. As such, all the operations and services offered by the networking sites should be implemented with a view in either delivering messages real time to enhance communication increase clarity of the information passing process. From the information cited in the preceding paragraphs, the preferences of the users are quite evident since Facebook is more popular by the number of subscriptions mainly due to a more extended market presence and the simplicity of its operations. However, Instagram attracts more reaction because of its pictograph-based mode of passing information. In Instagram, moving video and photograph information is easier hence appropriate responses are easily evoked especially since pictures are more relatable towards with the respondent more confident in reacting to the post since a film is likely more informative than a text.
Challenges faced by staff in using business analytics
Like any other systems change, employees find it difficult to adapt to new orders due to reasons that are either real or imagined. The main reasons for the discomfort of the employees stem from the uncertainties associated with the introduction of new systems since mechanization almost always leads to job losses especially for professionals like actuaries who are most endangered by predictive systems. Alternatively, employees may be uneasy with systems based on minimal knowledge of the arrangements. Inadequate information and know-how about a subject cause discomfort amongst the employees dampening their spirits and work morale and in the process increasing their disdain for the change imposed on their world. Other challenges that business analytics may face thanks to the staff of a company include compromised data integrity, inability to address complexity associated with the implementation and the difficulty in securing and maintaining the data involved.
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