Why is it important to have a strategic target when collecting data for business analytics? How does the methodology used to collect the data affect the outcome? What creative methods can you think of that would cause this practice to be more effective in today’s technology driven world?
REPLY TO MY CLASSMATE’S POST. EXPLAINING WHY YOU AGREE WITH HIS POST TO THE ABOVE DISCUSSION (A MINIMUM OF 150 WORDS EACH)
No matter the type of business, it is important to have a strategy from the beginning of how the data is going to be used. It’s about the goals (vision, mission, and objectives) of the business and what data will be needed in order to meet these goals (Marr, 2020.) Having the right data and using it properly, means decision-making is much easier. There are multiple different ways of collecting data; There are open and closed-ended survey questions, analytics tools, focus groups, etc. Using the wrong data collection method can impact the quality of the data as well as its usefulness (Ndukwu, 2020.) With the help of today’s technology it is easier to collect data than ever before. New technologies means multiple methodologies can be used at the same time, they can make it easier to reach the target audience, and there are analytic programs out there for the novice to the pro analyst.
Marr, B. (2020). Why every business needs a data and analytics strategy. Retrieved from https://www.bernardmarr.com/default.asp?contentID=768
Ndukwu, D. (2020). 7 Data Collection Methods for Qualitative and Quantitative Data | KyLeads. Retrieved from https://www.kyleads.com/blog/data-collection-methods/