Western Governors University (WGU) ITEC2113 D336 Business of IT Applications Practice Exam

Question: 1 / 400

How does data analytics influence business strategy?

It reduces the number of employees needed

It decreases the time spent on manual data entry

It provides insights that inform strategic planning

Data analytics plays a critical role in shaping business strategy by providing valuable insights that inform decision-making processes. By analyzing large sets of data, businesses can uncover trends, customer preferences, and market dynamics that are not immediately apparent. This empirical evidence allows organizations to make informed strategic choices, allocate resources more efficiently, and identify new opportunities or areas for improvement.

For instance, through data analytics, a company might discover shifts in consumer behavior that signal a demand for a new product line or identify inefficiencies in their operations that need addressing. This strategic planning becomes data-driven, allowing for more accuracy and effectiveness in achieving business goals. In essence, data analytics transforms raw information into actionable insights that guide the overall direction of a business, aligning strategies with real-world market conditions and consumer needs.

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It eliminates the need for market research

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