Paper Details

Data , information and Knowledge are the terms we hear frequently, many a time we experienced those are the similar terms,But in a defined scope those three terms interact with each other and have different meanings. Those terms also interact witheach other as a hierarchy. In today’s business competition, data is being considered as one of the major parameter forplanning or decision making. Decision making is driven by data analytics in both ways as corrective and proactive decisionstoday. The importance is increasing for more and more data to rely on decisions being taken in this competitive situation.Today’s business is vast; each function of business is dealing with decision making and risks associated with it. Not all thedecisions are judgmental and situation based but today decisions based on data are playing an important role. Theorganization and its functions deal with different data and different data sources. Many large scale organizations havefocused on data analytics as organizations core function or important function that is also outsourced to some external dataanalytics firm, where huge data is processed in meaningful information to take relevant decisions.Today organizations can see growing appreciation towards the return from big data and many executives are realizingimportance of data in planning. This research paper is highlighting on data analytics terminologies, todays scenario, types ofanalytics, importance in business environment, few challenges with implementation of analytics in business & expectedfuture trends in analytics. Moreover this paper is focused on industry trends & some recently done research outcomes in dataanalytics domain. The major tilt in this research paper is all Business analytics related topics are tilted towards supply chainfunction due to interest of researcher.

Amol Prasad Khedkar, Dr. ShyamkantShrigiriwar, “Rolling data analytics to improve enterprise performance with special reference to supply chain function”, International Journal of Advance Engineering and Research Development (IJAERD), Vol. 3, Issue 9, pp. 102-110, September 2016.