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Business analytics for managers: taking business intelligence beyond reporting PDF

291 Pages·2017·3.81 MB·English
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TrimSize:6inx9in Laursen ffirs.tex V2-09/15/2016 7:38pm Pagei (cid:2) Business Analytics for Managers (cid:2) (cid:2) (cid:2) TrimSize:6inx9in Laursen ffirs.tex V2-09/15/2016 7:38pm Pageii (cid:2) Wiley & SAS Business Series The Wiley & SAS Business Series presents books that help senior-level managerswiththeircriticalmanagementdecisions. TitlesintheWiley&SASBusinessSeriesinclude: AgilebyDesign:AnImplementationGuidetoAnalyticLifecycleManagement by RachelAlt-Simmons AnalyticsinaBigDataWorld:TheEssentialGuidetoDataScienceanditsAppli- cationsbyBartBaesens BankFraud:UsingTechnologytoCombatLossesbyRevathiSubramanian BigData,BigInnovation:EnablingCompetitiveDifferentiationthroughBusiness AnalyticsbyEvanStubbs Business Analytics for Managers, Second Edition: Taking Business Intelligence BeyondReportingbyGertH.N.LaursenandJesperThorlund Business Forecasting: Practical Problems and Solutions edited by Michael Gilliland,LenTashman,andUdoSglavo (cid:2) (cid:2) BusinessIntelligenceApplied:ImplementinganEffectiveInformationandCommu- nicationsTechnologyInfrastructurebyMichaelGendron BusinessIntelligenceandtheCloud:StrategicImplementationGuidebyMichael S.Gendron BusinessTransformation:ARoadmapforMaximizingOrganizationalInsightsby AimanZeid Data-DrivenHealthcare:HowAnalyticsandBIareTransformingtheIndustryby LauraMadsen Delivering Business Analytics: Practical Guidelines for Best Practice by EvanStubbs Demand-DrivenForecasting:AStructuredApproachtoForecasting,SecondEdition byCharlesChase Demand-Driven Inventory Optimization and Replenishment: Creating a More EfficientSupplyChainbyRobertA.Davis DevelopingHumanCapital:UsingAnalyticstoPlanandOptimizeYourLearning and Development Investments by Gene Pease, Barbara Beresford, and LewWalker (cid:2) TrimSize:6inx9in Laursen ffirs.tex V2-09/15/2016 7:38pm Pageiii (cid:2) Economic and Business Forecasting: Analyzing and Interpreting Econometric Results by John Silvia, Azhar Iqbal, Kaylyn Swankoski, Sarah Watt, and SamBullard FinancialInstitutionAdvantageandtheOptimizationofInformationProcessing bySeanC.Keenan FinancialRiskManagement:ApplicationsinMarket,Credit,Asset,andLiability ManagementandFirmwideRiskbyJimmySkoglundandWeiChen FraudAnalyticsUsingDescriptive,Predictive,andSocialNetworkTechniques:A Guide to Data Science for Fraud Detection by Bart Baesens, Veronique Van Vlasselaer,andWouterVerbeke HarnessOilandGasBigDatawithAnalytics:OptimizeExplorationandProduction withDataDrivenModelsbyKeithHoldaway HealthAnalytics:GainingtheInsightstoTransformHealthCarebyJasonBurke HeuristicsinAnalytics:APracticalPerspectiveofWhatInfluencesOurAnalytical WorldbyCarlosAndre,ReisPinheiro,andFionaMcNeill HotelPricinginaSocialWorld:DrivingValueintheDigitalEconomyby Kelly McGuire Implement,ImproveandExpandYourStatewideLongitudinalDataSystem:Creat- ingaCultureofDatainEducationbyJamieMcQuigganandArmisteadSapp (cid:2) (cid:2) KillerAnalytics:Top20MetricsMissingfromyourBalanceSheetbyMarkBrown MobileLearning:AHandbookforDevelopers,Educators,andLearnersbyScott McQuiggan,LucyKosturko,JamieMcQuiggan,andJenniferSabourin ThePatientRevolution:HowBigDataandAnalyticsAreTransformingtheHealth- careExperiencebyKrisaTailor PredictiveAnalyticsforHumanResourcesbyJacFitz-enzandJohnMattoxII PredictiveBusinessAnalytics:Forward-LookingCapabilitiestoImproveBusiness PerformancebyLawrenceMaiselandGaryCokins StatisticalThinking:ImprovingBusinessPerformance,SecondEdition by Roger W.HoerlandRonaldD.Snee TooBigtoIgnore:TheBusinessCaseforBigDatabyPhilSimon Trade-BasedMoneyLaundering:TheNextFrontierinInternationalMoneyLaun- deringEnforcementbyJohnCassara The Analytic Hospitality Executive: Implementing Data Analytics in Hotels and CasinosbyKellyA.McGuire TheVisualOrganization:DataVisualization,BigData,andtheQuestforBetter DecisionsbyPhilSimon UnderstandingthePredictiveAnalyticsLifecyclebyAlCordoba UnleashingYourInnerLeader:AnExecutiveCoachTellsAllbyVickieBevenour (cid:2) TrimSize:6inx9in Laursen ffirs.tex V2-09/15/2016 7:38pm Pageiv (cid:2) UsingBigDataAnalytics:TurningBigDataintoBigMoneybyJaredDean VisualSixSigma,SecondEditionbyIanCox,MarieGaudard,PhilipRamsey, MiaStephens,andLeoWright For more information on any of the above titles, please visit www.wiley.com. (cid:2) (cid:2) (cid:2) TrimSize:6inx9in Laursen ffirs.tex V2-09/15/2016 7:38pm Pagev (cid:2) Business Analytics for Managers Second Edition Taking Business Intelligence Beyond Reporting (cid:2) (cid:2) Gert H. N. Laursen Jesper Thorlund (cid:2) TrimSize:6inx9in Laursen ffirs.tex V2-09/15/2016 7:38pm Pagevi (cid:2) Copyright©2017byJohnWiley&Sons,Inc.Allrightsreserved. PublishedbyJohnWiley&Sons,Inc.,Hoboken,NewJersey. PublishedsimultaneouslyinCanada. Nopartofthispublicationmaybereproduced,storedinaretrievalsystem,or transmittedinanyformorbyanymeans,electronic,mechanical,photocopying, recording,scanning,orotherwise,exceptaspermittedunderSection107or108ofthe 1976UnitedStatesCopyrightAct,withouteitherthepriorwrittenpermissionofthe Publisher,orauthorizationthroughpaymentoftheappropriateper-copyfeetothe CopyrightClearanceCenter,Inc.,222RosewoodDrive,Danvers,MA01923,(978) 750-8400,fax(978)646-8600,orontheWebatwww.copyright.com.Requests tothePublisherforpermissionshouldbeaddressedtothePermissionsDepartment, JohnWiley&Sons,Inc.,111RiverStreet,Hoboken,NJ07030,(201)748-6011, fax(201)748-6008,oronlineatwww.wiley.com/go/permissions. LimitofLiability/DisclaimerofWarranty:Whilethepublisherandauthorhaveused theirbesteffortsinpreparingthisbook,theymakenorepresentationsorwarranties withrespecttotheaccuracyorcompletenessofthecontentsofthisbookand specificallydisclaimanyimpliedwarrantiesofmerchantabilityorfitnessforaparticular purpose.Nowarrantymaybecreatedorextendedbysalesrepresentativesorwritten salesmaterials.Theadviceandstrategiescontainedhereinmaynotbesuitablefor yoursituation.Youshouldconsultwithaprofessionalwhereappropriate.Neitherthe publishernorauthorshallbeliableforanylossofprofitoranyothercommercial damages,includingbutnotlimitedtospecial,incidental,consequential,orother damages. Forgeneralinformationonourotherproductsandservicesorfortechnicalsupport, pleasecontactourCustomerCareDepartmentwithintheUnitedStatesat(800) (cid:2) (cid:2) 762-2974,outsidetheUnitedStatesat(317)572-3993orfax(317)572-4002. Wileypublishesinavarietyofprintandelectronicformatsandbyprint-on-demand. Somematerialincludedwithstandardprintversionsofthisbookmaynotbeincluded ine-booksorinprint-on-demand.IfthisbookreferstomediasuchasaCDorDVD thatisnotincludedintheversionyoupurchased,youmaydownloadthismaterialat http://booksupport.wiley.com.FormoreinformationaboutWileyproducts,visit www.wiley.com. LibraryofCongressCataloging-in-PublicationData: Names:Laursen,GertH.N.,author.|Thorlund,Jesper,author. Title:Businessanalyticsformanagers:takingbusinessintelligencebeyond reporting/GertH.N.Laursen,JesperThorlund. Description:Secondedition.|Hoboken:Wiley,2016.|Series:Wiley&SAS businessseries|Revisededitionoftheauthors’sBusinessanalyticsfor managers,|Includesindex. Identifiers:LCCN2016028271(print)|LCCN2016029032(ebook)|ISBN 9781119298588(hardback)|ISBN9781119302520(ePDF)|ISBN9781119302537 (ePub)|ISBN9781119302520(pdf)|ISBN9781119302537(epub) Subjects:LCSH:Businessintelligence.|BISAC:BUSINESS&ECONOMICS/ Decision-Making&ProblemSolving. Classification:LCCHD38.7.L392016(print)|LCCHD38.7(ebook)|DDC 658.4/033—dc23 LCrecordavailableathttps://lccn.loc.gov/2016028271 CoverDesign:Wiley CoverImage:©MichaelMann/GettyImages,Inc PrintedintheUnitedStatesofAmerica 10 9 8 7 6 5 4 3 2 1 (cid:2) TrimSize:6inx9in Laursen ftoc.tex V2-09/15/2016 7:38pm Pagevii (cid:2) Contents Foreword xi Introduction xiii WhatIstheScopeofBusinessAnalytics?Information Systems—NotTechnicalSolutions xvii PurposeandAudience xix OrganizationofChapters xxiii WhytheTermBusinessAnalytics? xxiv Chapter1 TheBusinessAnalyticsModel 1 OverviewoftheBusinessAnalyticsModel 2 StrategyCreation 4 BusinessProcessesandInformationUse 4 TypesofReportingandAnalyticalProcesses 5 DataWarehouse 5 (cid:2) (cid:2) DataSources:ITOperationsandDevelopment 5 DeploymentoftheBusinessAnalyticsModel 6 CaseStudy:HowtoMakeanInformationStrategy foraRadioStation 6 Summary 13 Chapter2 BusinessAnalyticsattheStrategicLevel 17 LinkbetweenStrategyandtheDeploymentofBusiness Analytics 19 StrategyandBusinessAnalytics:FourScenarios 20 Scenario1:NoFormalLinkbetweenStrategy andBusinessAnalytics 22 Scenario2:BusinessAnalyticsSupportsStrategy ataFunctionalLevel 24 Scenario3:DialoguebetweentheStrategyandthe BusinessAnalyticsFunctions 28 Scenario4:InformationasaStrategicResource 30 WhichInformationDoWePrioritize? 32 TheProductandInnovationPerspective 34 CustomerRelationsPerspective 38 TheOperationalExcellencePerspective 42 Summary 44 vii (cid:2) TrimSize:6inx9in Laursen ftoc.tex V2-09/15/2016 7:38pm Pageviii (cid:2) viii CONTENTS Chapter3 DevelopmentandDeploymentofInformation attheFunctionalLevel 47 CaseStudy:ATriptotheSummerhouse 50 SpecificationofRequirements 51 TechnicalSupport 52 OffWeGototheSummerhouse 53 LeadandLagInformation 54 MoreaboutLeadandLagInformation 57 EstablishingBusinessProcesseswiththeRockartModel 59 Example:EstablishingNewBusinessProcesseswiththe RockartModel 61 Level1:IdentifyingtheObjectives 62 Level2:IdentifyinganOperationalStrategy 62 Level3:IdentifyingtheCriticalSuccessFactors 64 Level4:IdentifyingLeadandLagInformation 66 OptimizingExistingBusinessProcesses 72 Example:DeployingPerformanceManagement toOptimizeExistingProcesses 73 ConceptofPerformanceManagement 74 WhichProcessShouldWeStartWith? 78 CustomerRelationshipManagementActivities 80 (cid:2) (cid:2) CampaignManagement 84 ProductDevelopment 85 WebLogAnalyses 86 Pricing 89 HumanResourceDevelopment 91 CorporatePerformanceManagement 93 Finance 94 InventoryManagement 95 SupplyChainManagement 95 Lean 97 ACatalogueofIdeaswithKeyPerformanceIndicators fortheCompany’sDifferentFunctions 99 Summary 101 Chapter4 BusinessAnalyticsattheAnalyticalLevel 103 Data,Information,andKnowledge 106 Analyst’sRoleintheBusinessAnalyticsModel 107 ThreeRequirementstheAnalystMustMeet 109 BusinessCompetencies 110 ToolKitMustBeinOrder(MethodCompetencies) 111 TechnicalUnderstanding(DataCompetencies) 112 RequiredCompetenciesfortheAnalyst 113 (cid:2)

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