What is Data Mining and Why is it Important

          In the video, "What is Data Mining and Why is it Important?" the presenter uses the statement "patterns in data help answer business questions," a broad statement. Consider a small business that is a computer store. How would data mining help expand their business? (LO1) https://youtu.be/mOfPG5ZIY-k Essential Activities: Watching "What is Data Mining and Why is it Important?" will assist you with the discussion forum. Notes: Please refer to this assignment's discussion forum rubric on the start here tab. To earn total points on the discussion forums each week, include outside sources to support your discussion. Discussion 2 In the article, Why Business Analysts Are Essential to Your Operations Team, September 3, 2019 by Paul Crosby, the following 5 reasons are listed. 1. Business Analysts Improve Operational Productivity 2. Business Analysts Need to Prove Their Value to the Operations Team 3. Business Analysts are Problem Solvers by Nature 4. Business Analysts Drive Value By Wearing Many Hats 5. Every Operations Team Will be Data and Analysis-Driven Briefly discuss your view on the necessity of each. Can you think of additional reasons? If so, please share.

Sample Solution

  Business Analysts Improve Operational Productivity: Business analysts play an important role in streamlining operational processes. They use data to identify problems and suggest changes that can improve the efficiency of operations, thus increasing productivity. This helps organizations save time and money, as well as increase customer satisfaction. Additionally, business analysts are able to forecast future performance and make recommendations on how to better allocate resources.      
Business Analysts Need to Prove Their Value To The Operations Team: Business analysts must be able to demonstrate their value within the organization in order for them to be taken seriously by operations teams. To do this, they must show how their decisions will positively impact the bottom line by driving cost savings or improving performance metrics such as customer acquisition rate or profitability. Developing a solid understanding of the company’s systems and requirements is essential for proving value—as is being able to communicate those findings effectively with stakeholders across the organization. Business Analysts Are Problem Solvers By Nature: Business analysts have a knack for identifying potential issues before they become larger problems within an operation team's workflow. By taking a proactive approach, they can help management find solutions more quickly than would otherwise be possible by conducting research, analyzing large amounts of data, and presenting recommended solutions based on their findings—all while keeping stakeholders informed along the way. Business Analysts Drive Value By Wearing Many Hats: A business analyst brings many skillsets together under one umbrella; from technological expertise such as coding or design capabilities all the way up through strategic planning abilities like market analysis or predicting customer behavior patterns through analytics projects—the ability for a single person wearing multiple hats at once adds great value across any industry or sector in which it is utilized correctly. Every Operation Team Will Be Data And Analysis-Driven: We live in an increasingly digital world where businesses need reliable data sources that provide accurate insights into everything from consumer preferences to employee engagement levels if they want remain competitive with other companies in their respective industries. As such, every operation team needs access to someone who can analyze said data sets properly so that appropriate actionable steps can then be taken accordingly; this is precisely where a skilled business analyst comes into play and begins adding immense value through his/her successful manipulation of facts & figures into useful information & applicable strategies alike! Additional Reasons why Business Analyst are Essential : One additional reason why business analyst are essential involves leveraging big data technology – two terms often associated together due to its massive potential benefits when utilized correctly (e.,g., predictive analytics). This type of “smart” technology allows companies not only access real-time insights like never before but also gain valuable trends/patterns regarding product development cycles , pricing models , etc.; naturally all this requires sound decision making obtained via knowledgeable personnel running corresponding analysis which again ties back into our original point about hiring savvy business analyst capable of dealing with both structured & unstructured datasets at all times!

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