Description

Introduction to Analytics
April 2024 Examination
1. In the context of the rapid growth of Big Data, explain how banks can leverage Big
Data analytics to enhance customer experience and achieve operational efficiency.
Provide an illustrative example demonstrating the efficacy of utilizing Big Data
analytics in the banking sector. (10 marks)
Ans 1.
Introduction
In an era dominated by the digital revolution, the banking sector stands at the forefront of a
transformative shift, driven largely by the rapid growth of Big Data. This proliferation of
data, characterized by its immense volume, velocity, and variety, offers unprecedented
opportunities for banks to redefine their customer relationships and streamline operations. By
harnessing the power of Big Data analytics, banks can gain deep insights into customer
behavior, preferences, and needs, enabling them to deliver personalized services that
significantly enhance the customer experience. Furthermore, Big Data analytics empowers
banks to optimize their operational processes, identify inefficiencies, and reduce costs,
It is only half solved
Get Complete assignment help from us
Price – 290/ assignment
NMIMS Complete Solved Assignments
Available for session APRIL 2024
The last date is 28th MARCH- 2024
Our assignment help is affordable
Our goal is to provide you with the best and the cheapest
services
Contact No – 8791514139 (WhatsApp)
OR
Mail us- [email protected]
Our website – www.assignmentsupport.in
Online buy – https://assignmentsupport.in/shop/
2. The landscape of manufacturing, from procurement of raw materials to
production, packaging, and delivery, has been revolutionized by digital-driven
processes. FMCG companies have embraced analytics across all operations,
transforming how they understand customers and manage supply chains. Elaborate on
how (Fast-Moving Consumer Goods) FMCG companies can leverage descriptive,
predictive, prescriptive, and diagnostic analytics to gain deeper customer insights and
enhance supply chain management. (10 marks)
Ans 2.
Introduction
In the rapidly evolving landscape of Fast-Moving Consumer Goods (FMCG) companies, the
integration of analytics has marked a paradigm shift in operational efficiency and customer
engagement. These organizations, which span a broad spectrum of products consumed daily,
have traditionally relied on historical sales data and market research to inform their strategies.
However, the advent of digital-driven processes has significantly expanded their capabilities.
By harnessing descriptive, predictive, prescriptive, and diagnostic analytics, FMCG
companies are now equipped to delve deeper into consumer behavior, optimize supply chain
operations, and foresee market trends with unprecedented precision. This integration of
analytics not only refines their understanding of customer needs but also enhances their
3. The healthcare industry is transforming significantly by integrating data analytics
and digital technologies. The increasing demand for analytics in healthcare has been
fueled by the need to improve patient outcomes, optimize operations, and enhance
overall healthcare delivery. However, despite the potential benefits, challenges arise due
to the complex nature of healthcare data, ethical considerations, and the potential biases
inherent in analytics algorithms.
a. What are the potential challenges in using data analytics in healthcare? Support your
viewpoint with an example. (5 marks)
Ans 3a.
Introduction
The integration of data analytics into the healthcare industry marks a significant leap forward
in enhancing patient care, optimizing operational efficiency, and improving healthcare
delivery. This transformative shift is driven by the vast amounts of data generated within
healthcare systems, from patient records and treatment outcomes to operational logistics.
Despite the promising advantages, the application of data analytics in healthcare is not
b. Describe any six tools used to visualize healthcare data. What are the benefits of using
visualization tools? (5 marks)
Ans 3b.
Introduction
In the realm of healthcare, data visualization tools play a crucial role in transforming complex
datasets into actionable insights. These tools are designed to help healthcare professionals,
administrators, and researchers interpret vast amounts of data efficiently, facilitating informed
decision-making and enhancing patient care. By presenting data in a visually engaging and
accessible format, these tools make it possible to identify trends, patterns, and outliers that