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How Does Improving Decision Making Add Value for a Business?

Autor:   •  November 20, 2014  •  Essay  •  395 Words (2 Pages)  •  752 Views

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1. How does improving decision making add value for a business?

Making the right decisions, at the right time, is essential to proper management. Having the right tools and all information from not only internal sources but external as well, the analytics, and reports enables management to make informed decisions which lead to cost reduction, increased efficiency, increased profits and organizational growth. Additionally, value may be added in the employees’ morale by good decisions made by company management, such as flexible scheduling options or the ability to work from home.

2. Explain why it might be useful to have detailed Web site metrics like those IBM provides.

Web site metrics such as IBM’s NAB 2008 website with core metrics and video metric enables tracking a consumer’s movement such as what web page they are coming from and the pages they are landing on, the type of content they are view and how long they view that content. These metrics allow a company to develop a consumer profile which aids in their marketing strategy, such as in targeting. A program like this allows a company to see customer behavior and to make business decisions based on the data. Utilizing the information gained from metrics, a company’s CRM system, billing systems, and other sources then give the company the ability to find synergy in that data. They combine, cleanse, and rationalize data into a structure that is compatible with programs like Cognos 8, enabling them to put options into a wide scope as well as detailed and informative package that aids with making the right business decisions. These metrics allow business intelligence to affect day-to-day decision making; marketing and logistics operations could see significant improvements because of this data.

3. Use the Web to find out some of the specific capabilities of Cognos 8 BI.



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