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Assignment of Usefulness of Data mining, Data

Resource Aspect and IT Enabled services in formulatinga Business Strategy

Assignment 2

Submitted in partial fulfilment of trimester II curriculum program for the subjectManagement Information Systems in MBA++ Program

by

Kedar Patil

Roll No. 14330 Div- C

Under the guidance of

Prof. Nitin Patil

Faculty for the subject Management Information Systems

DEPARTMENT OF MANAGEMENT SCIENCES(PUMBA) UNIVERSITY OF PUNE PUNE-411007 (MS)

INDIA 2014-2015

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How Data Mining Aspect helps to formulate business strategy?

Data mining is the process of analyzing data and summarizing it to produce useful

information. Data mining uses sophisticated data analysis tools to discover patterns and

relationships in large datasets.

When data mining is used in business applications, it is also referred to as business analytics

or business intelligence .

Example.

Consider I am an online retailer who sells a wide variety of products. In a typical day, I may

sell thousands of different products to tens of thousands of different customers. How does

the company leverage all this data to improve its business? One strategy is to discover

which products are often bought together which is done with help of data mining.

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How can Data Resource Management be Implemented in a Business?

By implementing data resource management, a company can plan more strategically,

maintain an inventory of references, and reduce duplication of data and systems. In order toimplement such a plan a strategic approach must be taken. I want to start a consulting firmwhich will counsel companies regarding Data Analytics and Research. The following are thesteps i will follow in building a system for data resource management.

1. I will create a plan for the data resource management system and will ensure that thisplan includes vision and mission statements. With clearly stated goals, it can be secured inthe fact that any data that is stored will be data that is relevant to the business and projectat hand.

2. I will determine who the best resources are for managing this data. I will employ the mostdiligent individuals to organize and secure the data resource.

3. I will research what currents systems are in place for data resource management.Determine what is working and what is not working.

4. Once holes in the current system have been detected, it is time to come up with a planfor filling in these holes - either through constructing a more streamlined plan for dataresource management or by purchasing software.

5. I will implement this plan through the company. To ensure the success of the dataresource management plan the required steps for implementation must be planned toensure a smooth transition.

6. I will review on a regular basis the needs of the organization when it comes to dataresource management for projects. Technology is ever changing and organizationalrequirements change and evolve, it is a necessity to continuously review current method ofdata resource management.

http://www.brighthub.com/office/entrepreneurs/articles/40775.aspxhttp://www.brighthubpm.com/resource-management/14438-key-elements-of-resource-management/http://www.brighthubpm.com/resource-management/9792-data-resource-management-in-a-changing-business-environment/http://www.brighthubpm.com/resource-management/9792-data-resource-management-in-a-changing-business-environment/http://www.brighthubpm.com/resource-management/14438-key-elements-of-resource-management/http://www.brighthub.com/office/entrepreneurs/articles/40775.aspx

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What is IT enabled Services?

IT Enabled services (ITES) or Web enabled services or Tele-working, covers all operations whichexploit Information Technology for improving efficiency of an organization. The key IT enabledservices are:

Call Centres

Electronic Publishing

Medical Transcription

Data Centres

GIS Mapping

Portals

ERP( Enterprise Resource Planning )Knowledge Management & Archiving.

Favoured Application AreasITES penetrates into areas where there is huge amount of data that needs to be processed andutilised for delivering the results, or the data is the outcome of the service. In all cases, without useof IT the task would otherwise be unmanageable. Some of the most important areas where ITenabled services can be deployed are:

Telemarketing

Helpdesk

Customer Support Centres

Data Ware House

GIS Mapping for Transport trackingElectronic Distribution.

Some of the possible implementation of IT enabled services in SMEs (Small & Medium Enterprises)are:

Joint Marketing Programs

Common Helpdesk

Portal for Electronic distribution

Telemarketing

Fig. ITES services offered to a business