Strategic Benefits of Predictive Analytics
In this case study learners will examine how an omni-channel retailer can benefit from predictive analytics. Retailing can be a very competitive industry that requires firms to fully use their data resources in order to optimize the value they provide their customers.
Write a 3–4 page response to questions 1–5 on page 189 in Business Intelligence and Analytics: Systems for Decision Support.
Why should retailers, especially omni-channel retailers, pay extra attention to advanced analytics and data mining?
What are the top challenges for multi-channel retails? Can you think of other industry segments that face similar problems?
What are the sources of data that retailers such as Cabela’s use for their data mining projects?
What does it mean to have a “single view of the customer”? How can it be accomplished?
What type of analytics help did Cabela’s get from their efforts? Can you think of any other potential benefits of analytics for large-scale retailers like Cabela’s?
In your answers focus on the strategic benefits that predictive analytics offers Cabela’s and how they integrated software tools.
As you complete your assignment, be sure your paper meets the following guidelines:
Written communication: Writing is free of errors that detract from the overall message.
APA formatting: All resources and citations should be formatted according to current APA style and formatting guidelines.
Length: 3–5 typed, double-spaced pages including graphics.
Font: Times New Roman, 12 points.
Refer to the scoring guide for this assignment to ensure you meet the grading criteria. When your paper is complete, submit it to the assignment area.
Strategic Benefits of Predictive Analytics Scoring Guide
Identify the strategic benefits of predictive analytics in a business case.16%
Identify the top challenges in implementing predictive analytics.16%
Apply the concept of a single view of a customer to a business case.16%
Describe specific predictive analytics applications in a business case.20%
Identify sources of data for data mining processes16%