MIS 7000 Costco Data Analytics
Business intelligence is an umbrella term for many types of data analysis.
Descriptive
analytics can be used to depict current business conditions and provide
new insights into the current environment. This type of analysis
typically includes a dashboard with a big picture summary of data and
the ability to drill down to ever increasing levels of detail.
Diagnostic
analytics can help to answer the question of why certain patterns exist
in the descriptive data by seeking statistical correlations of cause
and effect.
Predictive analytics examine the historical patterns
associated with descriptive analysis and the reasons for those patterns
from the diagnostic analysis to predict future business activities.
Predictive
analytics include a combination of big data, business intelligence, and
machine learning, which is a form of artificial intelligence.
Prescriptive analytics are used to make recommendations based on the
predictive analysis.
In this paper, describe and provide examples of how Costco uses big data.
Cost
has a low-cost strategy, so explain how the various forms of data
analytics could help to keep the costs of products and services low.
You
should provide examples of descriptive, diagnostic, predictive, and
prescriptive analytics for your business. Please be specific.
This research driven paper, as the minimum, must contain:
A title page
Three to five pages of text-based content
one or more reference pages
