Role of Data in Decision Making
The post contains two asighnments
1:Data in Decision Making-
Order Description
The Evolving Role of Data in Decision Making (The Economist, 2013)
1. How does the article define “big data”? Based on your functional area of expertise, discuss the frequency of big data in driving decisions graph versus what you
observe. Could this be related to the organization?
2. According to the “Alice in Wonderland” problem, how should you approach any project? Be specific with respect to the class project.
3. Compare and contrast the advantages and disadvantages of organizational cultures with and without a data-driven focus.
4. How does this article’s content impact your view of the methods you may apply to gather, analyze and report data so you have the ability to factually measure
performance outcomes?
2: The External Environment
Order Description
In minimum of 100 words answer the following questions.
1 Explain the importance of analyzing and understanding the firm’s external environment.
2 Define and describe the general environment and the industry environment.
3 Discuss the four parts of the external environmental analysis process.
4 Name and describe the general environment’s seven segments.
5 Identify the five competitive forces and explain how they determine an industry’s profitability potential.
6 Define strategic groups and describe their influence on firms.
7 Describe what firms need to know about their competitors and different methods (including ethical standards) used to collect intelligence about them.