Business Administration & Management Mr. Bernstein Management Information, pp April 17, 2015
Business Administration & Management Mr. Bernstein Management and Information Don’t make decisions without information Management by Exception – review data, act on exceptions Market Research Internal studies of efficiency Compare your metrics to industry Estimates of local economic growth 2
Business Administration & Management Mr. Bernstein Using data to solve problems Make sure you are solving the problem, not a symptom Take time to brainstorm or list alternative solutions Seek information to analyze solutions Only then are you prepared to make best decisions 3
Business Administration & Management Mr. Bernstein Big Data is Changing Business Huge streams of data have emerged The analytical power to manage these volumes of data has been recently developed Patterns that were formerly unseen can now be identified Senior management surveys show Big Data upgrades are necessary to remain competitive 4
Business Administration & Management Mr. Bernstein Big Data is more than UPS, Marketing and PARCC Monsanto: Using data to improve green agriculture business/2015/apr/09/monsanto-big-data- agriculture-farming-environment-climate-corp Caterpillar: Looking to improve manufacturing 0/NEWS05/ /caterpillar-catches-the- big-data-bug 0/NEWS05/ /caterpillar-catches-the- big-data-bug 5