(Portion 1)

This week’s required readings explain the role that analytics plays in the modern business environment. Consider the following questions and respond in a minimum of 175 words:

• How is data analytics different from statistics?
• Analytics tools fall into 3 categories:descriptive, predictive, and prescriptive. What are the main differences among these categories?
• Explain how businesses use analytics to convert raw operational data into actionable information. Provide at least 1 example.
• Consider the organization you work for (or another organization you’re familiar with). Does this organization use data analytics?If so, how is it used? If not, how could the organization use data analytics to improve its performance?

Word count = 250

(portion 2) 

Reply to two students – !50 words EACH = 300. 

Due tonighT! 

Response 1:

Porcha wrote:

Good evening Professor and class,

· How is data analytics different from statistics?

Analytics is systematic data used for discovery, interpretation and communication in the vision of patterns. Statistics is when you organize, present or analyze that data.

· Analytics tools fall into 3 categories: descriptive, predictive, and prescriptive. What are the main differences among these categories?

Descriptive analytics is when the examination of the data is performed. Predictive analytics is analyzing the current facts and making predictions. Prescriptive analytics is the last phase of analyzing.

· Explain how businesses use analytics to convert raw operational data into actionable information. Provide at least 1 example.

One way of doing this is sampling. For example: if you want to analyze the increase of quality care in the healthcare field you can sample patient complaints and ratings to analyze whether the quality care increased compared to a previous testing.

· Consider the organization you work for (or another organization you’re familiar with). Does this organization use data analytics? If so, how is it used? If not, how could the organization use data analytics to improve its performance?

Data analytics are used in order to determine customer satisfaction in my company. Surveys are text messaged to the patients and are analyzed by the big bosses.

Response 2:

KatV wrote

Statistics is collecting, organizing, analyzing, interpreting, and presenting data. Data analytics is the process of inspecting and cleansing that data then transforming it into a hypothesis that is molded.

Descriptive analytics describes what has happened in the business, predictive analytics is what could happen and prescriptive analytics is what should happen.

Businesses use data and statistics to be able to interpret what is happening within their business and progress to where they need to be.

In my organization and department we are always looking at raw data from how many patients we see, how many referrals we get, patient wait times, and staffing. We even use data to decide on customer satisfaction with vendors that we use. With COVID our operations were forced to practically shut down and only perform the most necessary cardiac testing and that was even limited to how many patient the entire building could bring in for the day. As more referrals have started to come in we have had to analyze what days we could increase operations and staffing since they are included in the occupancy rate in the building.

Response1:

Porcha wrote:

Good evening Professor and class,

• How is data analytics different from statistics?

Analytics is systematic data used for discovery, interpretation and communication in the vision of

patterns. Statistics is when you organize, present or analyze that data.

• Analytics tools fall into 3 categories: descriptive, predictive, and prescriptive. What are the main

differences among these categories?

Descriptive analytics is when the examination of the data is performed. Predictive analytics is analyzing

the current facts and making predictions. Prescriptive analytics is the last phase of analyzing.

• Explain how businesses use analytics to convert raw operational data into actionable

information. Provide at least 1 example.

One way of doing this is sampling. For example: if you want to analyze the increase of quality care in the

healthcare field you can sample patient complaints and ratings to analyze whether the quality care

increased compared to a previous testing.

• Consider the organization you work for (or another organization you’re familiar with). Does this

organization use data analytics? If so, how is it used? If not, how could the organization use data

analytics to improve its performance?

Data analytics are used in order to determine customer satisfaction in my company. Surveys are text

messaged to the patients and are analyzed by the big bosses.

Response 2:

KatV wrote

Statistics is collecting, organizing, analyzing, interpreting, and presenting data. Data analytics is the
process of inspecting and cleansing that data then transforming it into a hypothesis that is molded.

Descriptive analytics describes what has happened in the business, predictive analytics is what
could happen and prescriptive analytics is what should happen.

Businesses use data and statistics to be able to interpret what is happening within their business
and progress to where they need to be.

In my organization and department we are always looking at raw data from how many patients we
see, how many referrals we get, patient wait times, and staffing. We even use data to decide on
customer satisfaction with vendors that we use. With COVID our operations were forced to
practically shut down and only perform the most necessary cardiac testing and that was even limited
to how many patient the entire building could bring in for the day. As more referrals have started to
come in we have had to analyze what days we could increase operations and staffing since they are
included in the occupancy rate in the building.

Response 1:

Porcha wrote:

Good evening Professor and class,

· How is data analytics different from statistics?

Analytics is systematic data used for discovery, interpretation and communication in the vision of patterns. Statistics is when you organize, present or analyze that data.

· Analytics tools fall into 3 categories: descriptive, predictive, and prescriptive. What are the main differences among these categories?

Descriptive analytics is when the examination of the data is performed. Predictive analytics is analyzing the current facts and making predictions. Prescriptive analytics is the last phase of analyzing.

· Explain how businesses use analytics to convert raw operational data into actionable information. Provide at least 1 example.

One way of doing this is sampling. For example: if you want to analyze the increase of quality care in the healthcare field you can sample patient complaints and ratings to analyze whether the quality care increased compared to a previous testing.

· Consider the organization you work for (or another organization you’re familiar with). Does this organization use data analytics? If so, how is it used? If not, how could the organization use data analytics to improve its performance?

Data analytics are used in order to determine customer satisfaction in my company. Surveys are text messaged to the patients and are analyzed by the big bosses.

Response 2:

KatV wrote

Statistics is collecting, organizing, analyzing, interpreting, and presenting data. Data analytics is the process of inspecting and cleansing that data then transforming it into a hypothesis that is molded.

Descriptive analytics describes what has happened in the business, predictive analytics is what could happen and prescriptive analytics is what should happen.

Businesses use data and statistics to be able to interpret what is happening within their business and progress to where they need to be.

In my organization and department we are always looking at raw data from how many patients we see, how many referrals we get, patient wait times, and staffing. We even use data to decide on customer satisfaction with vendors that we use. With COVID our operations were forced to practically shut down and only perform the most necessary cardiac testing and that was even limited to how many patient the entire building could bring in for the day. As more referrals have started to come in we have had to analyze what days we could increase operations and staffing since they are included in the occupancy rate in the building.