C520: Quantitative Analysis - Management Assignment Help

ASSIGNMENT TASK:

 TASK:

Why Quantitative Analysis?

Global competition and the quest to accomplish more with less make it imperative for businesses to continually innovate. The digital revolution has enabled companies to achieve high levels of productivity and control over the past several decades. The use of information systems, the internet, and other digital tools has enabled higher efficiency in processes and better, more accurate reporting of performance. The emergence of low cost storage and retrieval capabilities has created valuable information resources with a plethora of data about customers, inventories, business operations, product performance, prices, sales, advertising campaigns, employees, supply chains – indeed, virtually every aspect of the business. Given this, businesses around the world are looking at ways to leverage these data to create business value. This is being done using quantitative analysis and topics such operations research, statistical modeling, predictive analytics, text mining and associated IT tools, The area of optimal decision making using models has been in existence since the late 1950s with the development of Operations Research as a discipline. The evolution of large-scale databases and data warehouses provided corporations with core analytics capabilities that can support the development of performance management and reporting, dashboards, balanced scorecards, etc. The combination of these two areas with traditional statistical tools enables the development of predictive models and intelligent decision making and is what will be covered in the course. It is increasing being referred to as business analytics. This is emerging as a key area for organizations where they leverage data for competitive advantage. Many companies around the world are, as a result, embarking on plans to develop the full potential of business analytics.

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