Analytic Essay

Today’s world is full of competition and challenges. And this is not only the problem for the companies who are newly emerging but also for the companies who are in the market with a good grip on market and reputation. If the company fails to constantly look for new ideas and think innovatively then it is really hard to stay and compete with this competitors in market. For example if we see blackberry was supposed to be a huge cell phone company before few years. They were holding around 40 percentage for the total cell phone market. But today they are just holding around 1 or maximum 2 percentage of cell phone market. What happened to it? Why there was such a big fall in the market for the company? Why there customers preferred and moved to

In the beginning was used on small and initial based to take decisions on facts and figures. It was also called as support system. But as the time passed and people came to know about its importance now it has grown into vast field is used in every field for large companies. So when we talk about my old company SK there are also many fields like market analyzing in which we can use analytics in which we can use analytics to understand the market demands. Through which we can estimate the quantity of the goods to be produce which plays very important role because if you do not know the perfect data or amount of commodity then you will be over stocked or either out of stock. If you are out of stocked then it will directly affect the customers because you won’t be able to supply the goods on right time. While over stocking will result in running out for storage space. It will also result on investing company’s money on not needed stuff which will stuck the company’s money. This should be a reason which supports the use of prediction analysis. As we can see there are always reasons for the production of certain goods for certain time period. For example if you are running a cloth manufacturing then there are different weathers in which customers wears or buys different clothes. So assume that you are over stocked for winter stock or products, then the left over stock would not be sold until next

Starting for analytical impaired up to the best analytical competitors. As I have told that SK were at the very beginning stage of the analytical competitors. And the first stage of the analytical competitors has no further visions. They probably has resides on the past reports like previous year sales, and the problems that are faced from competitors in past. But good competitors actually looks towards the future prospects of company. Prospects relates to new innovations and possibilities, staying ahead, understand things better and clearly. Our company was just trying to their sales but were not having any perfect direction and solution for the same. So we can say that we were flying blind instead of that doing proper analysis of all the data, we could have taken good and the needed action required for the company. And that would have helped the company’s future sales and company to stay ahead then all other competitors. So if we want to grow, then we always need to be on the fifth stage of analytical competitors. There is a saying that you cannot drive a car forward while looking into the rear view mirror. So any company which is just looking at the past reports rather than the future planning or prospects will never move forward or faster. If we think to move forward then we have to think innovative, think bigger and ahead then all the other competitors in the market. Our company also needed to motivate the use