Q3 Explain, how much can business intelligence and

business analytics help companies refine their business

strategy?

Business analytics has a wide range of application and usages. It can be used
for descriptive analysis in which data is utilized to understand past and
present situation. This kind of descriptive analysis is used to assess current
market position of the company and effectiveness of previous business
decision.Business analytics is also used for prescriptive analysis, which is
utilized to formulate optimization techniques for stronger business
performance.For example, business analytics is used to determine pricing of
various products in a departmental store based on past and present set of
information.Business intelligence is framework designed to support decision-
making process. This framework combines architecture, database, analytical
tools and applications. Business analytics forms an integral part of business
intelligence

Insurance Fraud DetectionSensitivity Analysis :-

Earlier fraud detection was done by claims agents who had to rely on few
facts and a large amount of intuition. New data analysis has intro¬duced tools
to make fraud review and detection possible in other areas such as
underwriting, policy renewals, and in periodic checks that fit right in with
modelling.

Sensitivity Analysis :-

In finance, a sensitivity analysis is created to understand the impact a range of

variables has on a given outcom.Example, assume an equity analyst wants to
do a sensitivity analysis and a scenario analysis around the impact of earnings
per share (EPS) on the company's relative valuation by using the price-to-
earnings (P/E) multiple. Financial instruments, such as stocks and bonds, are
constantly impacted by many factors. Sensitivity accounts for all factors that
impact a given instrument in a negative or positive way in an attempt to learn
how much a certain factor impacts the value of a particular instrument.

Understanding customers better by Customer Loyalty Analytics:-

When a retailer can connect customers with the products they want and need
at a good price, sales go up. Automated campaign management and analytics
give the company the ability to do it. It uses insights of customer behavior
and interests to create small, highly targeted campaigns aimed at specific
customer segments.Customer Loyalty Analytics offers full visibility of every
aspect of the customer. Because every customer interaction is tracked and
aggregated It gives a clear view of how different types of customers use the
website, and pages.

In HR :-

Business analytics does not only gathering data on employee but it aims to
provide insights into each process by using data to make relevant decisions,
improve the processes and operational performance. HR collects enough data
on employee’s personal information, compensation, benefits, retirements,
attrition, performance, succession time to time so it is important to use it
properly to interpret the outcome and spots the trends.
Q4 Define an expert system, describe how it works, and
explain its value to business.
Expert systems are an intelligent technique for capturing tacit knowledge in a
very specific and limited domain of human expertise. These systems capture
the knowledge of skilled employees in the form of a set of rules in a software
system that can be used by others in the organization.Expert systems model
human knowledge as a set of rules that collectively are called the knowledge
base. The strategy used to search through the collection of rules and
formulate conclusions is called the inference engine. The inference engine
works by searching through the rules and firin those rules that are triggered
by facts gathered and entered by the user.
Expert systems help organizations make high-quality decisions with fewer
people. They are used in discrete, highly structured, decision-making
situations where expertise is expensive or in short supply.
Some of examples are:
Amazon Alexa, Netflix & Cortana from Microsoft Windows.
Working of Expert system:
It basically perform the operation similar to those of humans in terms of
learning and decision making with set of information available to them. It
manages the knowledge and provide send inference. Knowledge component
consists of organisation of facts about a particular task which need to be
executed. The inference part give the result after interpreting and evaluating
the facts from the knowledge base
Expert system as an value to the business :-
It helps in developing automated web design.
An expert system increasing productivity and operational efficiency of a
business
It saves both time and money by use of automation and also optimising the
routine process and tasks for a business.
It helps in in forecasting the sales and also show the future growth
opportunities for the business.
It is used to develop smart devices which are adjustable as per the
behaviour.Smart personal assistants like cortana and Google now and Siri
have been developed which enhance the user experience.
It helps the E-Commerce companies in providing personalized service for
different customers.
It also prepares the list of product recommendations and the purchase
predictions in case of online shopping.
It helps in developing automated web design.
An expert system increasing productivity and operational efficiency of a
business
It saves both time and money by use of automation and also optimising the
routine process and tasks for a business.
It also show the mistakes which are generally called human error.
It provides expert analysis and advice based on the continuous learning it goes
through while in operation.
Q1 If you were setting up the Web site for Disney World
visitors, what management, organization, and technology
issues might you encounter?
Organization problems issues :
Old business processes : in this VUCA world if we do not opt for latest
technology, process, and techniques then we will not be able to sustain in the
market. The changes must be made in order to remain in the Market.
• Unsupportive culture and attitude: every organization has a corporate culture, and
that culture decide whether the company will survive in the market or not. For
example if a company has good corporate culture then will adopt the changes very
well and if the company do not has a good corporate culture then the same will
create hindrance for itself.
• Political fights: an organization always faces problem related to politics. Every
business needs some support from the political parties and for the same they are
required to maintain good relation with the same.
• Turbulence in the business environment surrounding: Every business is elastic to
its external environment. If we ignore our competition and other things like
suppliers and other parties who are stakeholder then it will be difficult for the
businesses to run,

Technology issues are :-

• Inadequate database capacity: Database is most essential in this world but due to
increase in population and in order to facilitate them we need more and more
database to lower the trafic on one server.
• Rapid technological change: in this world change is the only constant, so we must
upgrade our technologies in order to work more effectively and efficiently
• Shortage and aging hardware: technologies have very short life span as in every
few months some new technologies enter in the market and new technologies
comes with improved specifications. And we will not be able to adopt new
technologies then we will face the consequences.
• Old Software: not only the technologies but software’s to get old and every new
version of sowftwares require new hardware’s to support them.

Management: Problems include the following:

• Lack of staff training : we have to train the staff as how the system works and
who are the people responsible for the same work. If our employees are not trained
and don’t know how to work using MIS system then we will not be able to sustain
in the market.
• Evaluating the performance of difficulty: we should also check in which area
staff is facing problem and most common problem should be given priority then as
per need of staffs we should train them.
• Business environment: Business environment is pervasive in nature as it changes
very often. If we will not cope up with the environment then we might lose the
business.
• Lack of support and participation of employees: Change is never easy. In order to
have implement changes we first have to explain the same to employees and then
explain them if we don’t implement changes then what will happen. We should
attain their consent by solving their problems rather then forcing the same.
Q2 Propose a cloud-based solution for Syntax. Solution
should consist of the details of delivery and service models.