6.1.2 Organisation data usage

• Name the 6 things that a business may need data for:

  Identifying market trends

  System performance analysis

  User monitoring

  Targeted marketing

  Informed decision making

  Threat/opportunity assesment
• Businesses may data analyse system performance to find if it is operating efficiently, or if it easily/hardly able to handle its peak load
• Businesses may use user monitoring to improve numerous things, the data included is stuff like:

  The number of new vs returning visitors

  Location

  Device

  Time a website is accessed
• Data such as what a user visits most on a site is called 'user analytics'
• Targeted marketing is using data about a users to provide promotions that they are more likely to be interested in
• Businesses will often use collected info to make better business decisions these are known as informed decisions and include:

  Strategic decisions - general ideas regarding business goals

  Tactical decisions - specific ideas to achieve the long-term goal

  Operational decisions - ideas throughout the day-to-day to achieve a tactical decision
• Threat/opportunity assessments are where businesses consider the threat (potential loss) and opportunity(potential gain), to help decide whether to make a business decision
• Name 4 kinds of threat/opportunity assessments:

  Breakeven - what it takes for total cost to equal total revenue

  Predictive model - a method of using data and analysis to predict future events such as weather

  Cost analysis - examining expenses to determine the cost efficiency of operating

  Market trends - using historical data to identify patterns that predict the markets future behaviour
• List three examples of KID with different datatypes, in order D>I>K

  30052003> a date> Dyl's birthday

  2.88 > a price > cost ofbig mac

  True > is raining > bring an umbrella
• Organisations use data, name 5 things they use it for:

  Analyse market trends

  Monitor users

  Carry out threat/opportunity assessment

  Use targetted marketing

  Inform decision making
• Organisations can use data to analyse system performance. They can see what resources are used most.

  This informs them whether:

  If it needs to be upgraded

  If it can be overclocked

  If it could be downgraded

  Power usage
• Organisations can use data to monitor users such as remembering their sign info, holding info (phone number), or settings. This data may also include website analytics that help optomise web reach and user experience
• Organisations can create targetted marketting using data, this is useful to increase the reach of their company, and to increase sales of specific items with demographics that may share it more.

  This allows a preference profile to be built for targetted ads etc
• Organisations can use data to inform decision making, making decisions that will benefit a company the most
• What is decision making composed of?

  Strategical

  tactical

  operational
• WHat is strategical decision making?

  Long term, general direction
• WHat is tactical decision making?

  Medium term, specific projects according to direction
• What is operational decision making?

  Short term, completion of projects, maintenace of current position
• A threat/opportunity assessment is used by companies to see if making a business decision is worth it by considering the potential gains, potential losses, and the chance of each
• What is this?

  Threat opportunity matrix

  A) Threats

  B) Opportunities

  C) Short term

  D) Long term