Quantitative Methods in Decsion Making
Decision Making
Betty Pittman
Grand Canyon University
Quantitative Methods
November 16, 2011
Decision Making Analytics competitors are leaders in their varied fields consumer products, finance, retail, and entertainment. For organizations to become and prosper as an analytics competitor they must use analytics data because many industries offer similar products and use comparable technologies, business processes are among the last remaining points of differentiation. And analytics competitors use every possible analytics value from these processes. In order for organizations to prosper they must know what products their customers want, what prices those customers will pay, how many items each will buy in a lifetime, and what triggers will make people buy more. They must know the compensation costs and turnover rates, and they can also calculate how much personnel contribute to or detract from the bottom line and how salary levels relate to individuals’ performance (Davenport, 2006). Organizations can prosper when they rely on analytics date to help them know when inventories are running low, and they can predict problems with the demand and supply chains, to achieve low rates of inventory and high rates of prefect orders. We have already established that analytics are leaders in a varied of fields, and the important an organization need these top leaders to coordinate strategy and pushed down to decision makers at every level. These leaders are trained to recognize and used their expertise to get the best evidence and the best quantitative tools to make the best decisions, whether big or small every day to help their organizations succeed. The key source of strength for an analytics competitor is to find your competitive advantage. When you define your key industrial competitive pressures can provide a framework for developing strategies for your growth. Analyzing your primary competitor and identifying their Strengths,
Betty Pittman
Grand Canyon University
Quantitative Methods
November 16, 2011
Decision Making Analytics competitors are leaders in their varied fields consumer products, finance, retail, and entertainment. For organizations to become and prosper as an analytics competitor they must use analytics data because many industries offer similar products and use comparable technologies, business processes are among the last remaining points of differentiation. And analytics competitors use every possible analytics value from these processes. In order for organizations to prosper they must know what products their customers want, what prices those customers will pay, how many items each will buy in a lifetime, and what triggers will make people buy more. They must know the compensation costs and turnover rates, and they can also calculate how much personnel contribute to or detract from the bottom line and how salary levels relate to individuals’ performance (Davenport, 2006). Organizations can prosper when they rely on analytics date to help them know when inventories are running low, and they can predict problems with the demand and supply chains, to achieve low rates of inventory and high rates of prefect orders. We have already established that analytics are leaders in a varied of fields, and the important an organization need these top leaders to coordinate strategy and pushed down to decision makers at every level. These leaders are trained to recognize and used their expertise to get the best evidence and the best quantitative tools to make the best decisions, whether big or small every day to help their organizations succeed. The key source of strength for an analytics competitor is to find your competitive advantage. When you define your key industrial competitive pressures can provide a framework for developing strategies for your growth. Analyzing your primary competitor and identifying their Strengths,