Modern-day firms have ever-increasing amounts of data that are derived from various sources such as transaction-based applications like enterprise resource planning systems. The use of analytics implies that companies utilize data they have gathered over the years to make analyses that support business. Variations of statistical analyses can lead to a variety of decisions (Hashem et al., 2018). For example, a firm can use analytics and cloud computing to know whether the management’s interventions influenced a past happening. In addition, analysis of data can go a long way in helping a business establishment to predict future occurrences (Assunção, Calheiros, Bianchi, Netto, & Buyya, 2015). If the management team knows what is most likely going to happen in the future, it can institute a plan to handle issues to maintain good business and gain a competitive advantage.
The organization in the case study can be likened to any other business that can benefit from analytics and cloud technology in the 21st century (Hashem et al., 2018). The executive should aim at improving efficiency as well as reducing the cost of doing business. Creating a better environment in which to operate will be a remarkable advantage, and this will result in better customer service both in the short and long run. Moreover, adopting the latest technology for conducting commercial activities will enable the company to modernize its operations (Assunção et al., 2015). This essay argues why the organization in the case study should utilize analytics and cloud technology. In addition, it provides a workflow diagram to demonstrate how this technology could align with the firm’s processes. Finally, it recommends the company implement analytics and cloud technology.
The Need
In the context of the case study, analytics will be not only a portion of the firm’s operations but also an important element to assist the management in understanding the target clientele in a better way. Expected insights could range from obtaining information about customer service to improving marketing strategies (Assunção et al., 2015). Notably, the use of modern technology in the business in the case study will go a long way in supporting the efforts of the executive team to provide services that align with the needs of consumers.
Data from day-to-day operations may be collected and analyzed using appropriate tools. The firm should determine the best ways in which value can be derived from the gathered data, and present them to its main stakeholders, who are its clients. To ensure that the adoption of analytics and cloud technology will benefit clients and the organization, the management should understand how this technology works and how other companies have used it to achieve particular business goals.
There is a need for the executive team to adopt predictive analytics to comprehend future developments that could be associated with changing market fundamentals, consumer habits as well as preferences, and market dynamics. Notably, predicting the future would involve utilizing current events in a particular business field and combining them with data collected in the past to obtain trends as well as expected changes (Assunção et al., 2015; Grover, Chiang, Liang, & Zhang, 2018). In other words, the senior managers will be able to know how the future of the organization might look like, and share their predictions with their followers to position themselves strategically to handle business shifts.
While discussing the issue of cloud technology, it is important to state that it offers an organization an opportunity to enhance its computing infrastructure without introducing remarkable changes to the existing hardware and software platforms that would result in disruption of operations. Cloud computing will allow the firm in the case study to set up its computer systems in a manner that supports optimum power usage (Grover et al., 2018). This arrangement is not possible with conventional computing systems. Since cloud technology relies on the use of the internet, it provides solutions for monitoring commercial occurrences. In this context, the firm’s growth strategy will be supported by the package of hardware, software, and applications contained in cloud technology (Assunção et al., 2015). Even if the management would want to change the strategy, the system will be reconfigured to take into account these alterations.
An instance of cloud computing that would be helpful to the firm concerning making decisions about what to stock is e-commerce. This field of business would require employees to collect and analyze data to decide about the products that the targeted customers would purchase and their quantities. This can be achieved by gathering data about web visits, searched products, page clicks, and ages of potential clients (Assunção et al., 2015). Therefore, advanced data usage by the firm will enable it to adapt better business decisions as well as achieve improved commercial outcomes.
Workflow Diagram
According to the diagram above (Figure 1), an employee uses a smart device with an embedded processor to command the gadget to send data to the cloud that contains an IoT platform, which handles various types of information. Data from other sources like business systems may be combined and analyzed collectively to offer results that can be applied to make decisions about several business matters. A data specialist can mine historical information from the cloud or smart devices to process it using particular algorithms. These programs can incorporate machine learning methods that are critical in the prediction of future outcomes concerning sensor quantities. Notably, algorithms are integrated into cloud technology or smart devices to process real-time incoming data.
The theoretical portion of the diagram involves data acquisition and processing, while the translational part supports analysis. The diagram above (Figure 1) could be applied to align business processes with analytics and cloud computing if the management comprehends five technical areas about the representation. First, the company should identify and describe its opportunities for applying this technology within business processes such as cross-selling. Second, the executive team should develop questions that would guide the process flow. These would help to describe commercial matters, diagnose problems, predict outcomes, and prescribe solutions. Third, the firm in the case study can benefit from analytics and cloud technology if it defines its data requirements that would be associated with actors and activities. Fourth, statistical variables in the form of quantitative data are always aligned with the identified questions (Assunção et al., 2015; Grover et al., 2018). Finally, a set of rules are utilized to guide the integration of analytics components into business processes.
Recommendation
The executive team should start using analytics and cloud technology to improve its performance both in the short and long run. Business decisions will not be based on what managers think can work but what has been analyzed and proven feasible for the company. Although the team is unfamiliar with the technology, it should seek a service provider that will offer the right training and hire a data specialist to be in charge of the process of integrating and maintaining the new business system. The firm will have higher chances of attaining a competitive advantage since analytics and cloud technology offers organizations the ability to strategically analyze current and past commercial performances.
Conclusions
In conclusion, this essay has established that analytics and cloud technology are essential business tools for organizations in the modern-day environment that are typified by relatively high levels of competition. Analytics is founded on the collection and analysis of quantitative data that have meaningful implications on commerce. Decision-making is an important process in organizations since it helps management teams to adopt strategies that propel them forward. One of the benefits of analytics and cloud technology is the remarkable reduction of costs associated with operations and production of goods and improved efficiency. This technology will enable the organization in the case study to gain insights into several issues such as service delivery and marketing approaches. Cloud technology will be an essential management tool to assist the firm to align its goals with the inputs and outputs of analytics. Based on the workflow diagram, the processes will involve the integration of data into business systems, deployment of analytics to the cloud, exploratory analysis, and utilization of algorithms to smart devices. The executive team would be advised to incorporate analytics and cloud technology into the operations of the organization to gain a competitive advantage in the industry.
References
Assunção, M. D., Calheiros, R. N., Bianchi, S., Netto, M. A., & Buyya, R. (2015). Big Data computing and clouds: Trends and future directions. Journal of Parallel and Distributed Computing, 79(7), 3-15.
Grover, V., Chiang, R. H., Liang, T. P., & Zhang, D. (2018). Creating strategic business value from big data analytics: A research framework. Journal of Management Information Systems, 35(2), 388-423.
Hashem, I. A. T., Yaqoob, I., Anuar, N. B., Mokhtar, S., Gani, A., & Khan, S. U. (2015). The rise of “big data” on cloud computing: Review and open research issues. Information Systems, 47(3), 98-115.