Critical review points

• Who is most likely to ask for data visualisation?

  Directors
• Confirmatory data analysis


  confirm or disprove a hypothesis eg to prove the elasticity of

  demand for a company's products.
• Exploratory data analysis

  find new relationships or features in a data set. Data analysis

  to find a connection between sales volume and time of the year, for a seasonal business.
• Predictive data analysis

  making forecasts, based on techniques such as statistical

  modelling.
• Text data analysis

  involves extracting and classifying data from textual sources.
• Advantages of data Visualisation?

  1. Data easy to understand
  2. Faster decision making
  3. Improved decision making
• Responsibilities of a company that holds data

  1. Be steward
  2. Be transparent
  3. Ensure accuracy
  4. Have human checks
  5. Manage volume of data held
• Mintzberg Organisation - Technostructure

  Drives efficiency through rules and procedures
• Mintzberg Organisation - Strategic apex


  Direction of business through control
• Mintzberg Organisation - Operating core


  Perform routine activities
• Mintzberg Organisation - Middle line


  Management
• Mintzberg Organisation - Support staff

  Provide expertise
• Benefits of shared service centres

  1. Cost saving
  2. Standardised processes
  3. Improved services
  4. Consolidation of info systems
  5. Improved quality and control
• Total Quality Management


  This is committed continuous improvement in quality, productivity and effectiveness.
• Kaizen method


  This is incremental increases
• Aspects of marketing for service organisations

  1. Intangible outputs
  2. No storage
  3. heterogeneity
  4. Inseparability
  5. No transfer of property
• Elements of transaction theory

  1. Site specifity
  2. Physical asset
  3. Human asset
  4. Brand name
  5. Dedicated asset
  6. temporal
• advantages of rules based approach

  1. Consistent application
  2. breaches easy to identify
  3. rules for specific output
• Advantages of 3D Printing

  1. speed
  2. cost effective
  3. customisable
  4. lean
  5. confidential
• What are intended features of virtual company model

  1. improved flexibility and speed
  2. low investment hence less risk
  3. injection of market forces into all linkages in value chain
• What is the biggest challenge to shared service centres

  Service level agreements
• Six Sigma

  1. produce near perfect level products
  2. improved profitability
  3. customer orientated
• Examples of KWS

  1. CAD
  2. CAM
  3. Specialised financial software aiding financial trading
• Valence is the strength of persons preference of outcome
• Aspects of business partnering

  1. Basic performance measurement info
  2. provide to business functions
  3. support tactical decisions
• Aspects of strategic partnering

  1. Support major strategic decisions
  2. Expert analysis and insights
  3. Provide to company leaders
• Businesses that need to apply Corporate governance code

  1. companies listed in FTSE350
  2. Companies outside FTSE350
• 6 Benefits of data analytics

  1. Segmentations and customisation of markets
  2. Risk management
  3. fresh insight and understanding
  4. improved decision making
  5. Fast decision making
  6. innovation
• Classifications of transaction cost

  1. Search and information
  2. bargaining costs
  3. policing and enforcing