Describe how you would apply your data analytics technology to track and implement your business strategy for your coffee shop. Here is my outline. First, information we hope to collect data. How are we find out these data
Business intelligence or business analytics is a broad, general term describing information that people use to support their decision-making efforts. To execute your business strategy you should have full knowledge of your coffee shop strengths and weaknesses and full knowledge of the competitor strengths and weaknesses. Lack of either one might result in failure. Background: You understand that database and data analytics technology can dramatically improve your ability to analyze information and assist you in implementing and tracking your strategic plans for the cafe. You will need to first determine the information required from your coffee shop databases and then design the required data analytics technology. Task: The tasks associated with the business analytics opportunity outline your approach to using information to strategically track your business performance: Document the database information found in all of your coffee shop databases and determine which selected information should be collected for your data analytics opportunity. Describe how you would discern patterns and meaning in the information using your initial business analytics technology application. Describe how you would apply your data analytics technology to track and implement your business strategy for your coffee shop. Here is my outline. First, information we hope to collect data. How are we find out these data . 1Who are our best customers? Like using POS data and website. 2What is our most active time of day? 3What is our best/worst products? Second, Why we want those data information? Benefits from these data. 1Manage inventory: maximize available space in store, keep goods fresh. 2Marketing: advertise to right customers, retain customers and keep costs down. 3Payroll: decrease/increase employees as needs (hire more for seasonal increases) Third, other companies. How are other cafe’s using business analytics to improve their business model?