Data Analytics And Decision-Making In Organization

Data Analytics and Decision-Making in OrganizationsStudent’s NameInstitutional AffiliationData Analytics and Decision-Making in OrganizationsEvery decade or so, the business world creates a new description of how to extract decision-making and managerial value from computerized data. The favored term was “decision support systems” in the 1970s; it changed to “executive information systems” in the early 1980s, and the 90s saw the emergence of “business intelligence” (Chen et al. 2012). However, it appears that another shift has occurred in the label of how businesses take advantage of data to make better decisions, and this new tag is “business analytics.” The need for data analytics continues to grow, and businesses are maximizing their investment in analytics by focusing on the big data. The present paper is an in-depth study of data analytics, its benefits and challenges, strategies for successful implementation, and how information and data companies, such as Google and Yahoo are using it to transform the business.General Definition and an Overview of the Evolution of Data AnalyticsAccording to Davenport (2010), business analytics is the broad use of quantitative analysis and data to make decisions in an organization. The process involves