The Role Big Data Plays in Business Decision-Making

Utilizing statistical and data analytic frameworks, evaluate and analyze the role big data plays in business decision-making.

How is data analytics different from statistics? What are the main differences between descriptive, predictive, and prescriptive analytics tools? How do businesses use analytics to convert raw operational data into actionable information? Think about the organization you work for (or any other organization you are familiar with). Does the organization use data analytics? If so, how is it used? How can the organization improve the way it uses data analytics? What opportunities is the organization missing out on? If not, how could data analytics be used to improve the organization’s performance?